Datavant

Part
01
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Part
01

Datavant Business Background and Data Types

Datavant has customers in the United States and has been serving healthcare organizations for almost 2 years. Data types that are covered by the company include but are not limited to patient records, health data, and electronic medical records. All the information has been included in the attached slides.

DATAVANT

BUSINESS DESCRIPTION
  • Datavant was established in 2017.
  • Its headquarters are in San Francisco, California.
  • The company's mission deliverables include protecting patient health data privacy , linking health data across sources while maintaining patient privacy, and exchanging health data excluding Protected Health Information (PHI).
DATA QUALITY AND QUANTITY
  • The key data types the company works with include patient records, health data, Protected Health Information, any data type/file, electronic medical records (EMRs), lab data, specialty pharmacy data, provider data, non-healthcare data, claims data, health plan data, mortality data, structured data, de-identified data, and tokenized data.
  • Datavant has been serving healthcare organizations (HCOs) for almost 2 years (approximately 1 year 8 months).
  • The company's footprint is located mainly in California.




Part
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Part
02

Datavant HCOs, Patients, Data Access

Datavant serves 150 million patients and is associated with 200 HCOs. We have summarized the data for Datavant on the attached presentation.

Datavant HCOs, Patients, Data Access:


Your Research Team Applied the Following Strategies:

We commenced the research to seek the relevant data for Datavant by scanning through the official website of the company. We also extended our search by scanning through media publications from authoritative media outlets. Through these sources, we were able to obtain relevant information regarding the number of HCOs, number of patients and 'drivers' and 'brakers' for data acquisition.
  • For number of HCOs, we were able to locate a news article that clearly states that the company works with about 200 institutions.
  • For number of patients, we were able to locate an article that clearly the company has data of about 150 million unique patients.
  • For drivers, we located a news article that mentioned that Datavant is forging strategic partnerships with leading pharmaceutical companies, payers, providers, and analytics companies to build an ecosystem of data
  • For brakers, we found an article that stated that the company is only engaged in building data sets which it offers to other analytics companies such as DCRI, Verge Genomics, G3 and Mendel, among others thereby, confirming that Datavant lacks analytics capabilities.
Kindly note that the drivers and brakers have been devised after considering the example in Slide 3. Also, the content entered for drivers and brakers could not be more detailed considering the nature of the slide and size of the text box available on the slide thereby, we have provided short pointers similar to ones provided in Example slide 3.

Part
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Part
03

Datavant Architecture/Analytics

Datavant has designed a technology that they use to de-identify and unify data. In the attached presentation, on slide 1, all requested information can be found.

DATA UNIFICATION

  • This process uses the token transformation software that is installed and runs at the local site. The software allows site-specific tokens created during the de-identification process to be converted into a data recipient’s site-specific token scheme. This allows the corresponding de-identified patient records in the data source to be matched.
  • There is a transitional step to converting a data source’s token scheme to a data recipient’s token scheme. The source transforms its site-specific tokens to transit tokens first, this ensures that the source’s site-specific tokens never leave the source’s environment. The data is then sent with encrypted transit tokens and is transformed again by the recipient into their token scheme.
  • Each Datavant installation has a site-specific token key. This makes sure that no data set can be linked without the owner's permission.

DE-IDENTIFICATION

  • The company uses technology to replace patient data with encrypted "tokens", same patient-specific tokens are then created in any data set. This means two different data sets can be combined using the patient tokens to match corresponding records without revealing patient information.
  • The technology is installed behind users' firewalls. This technology is run locally and no patient information is sent out to Datavent.
  • The engine is specifically designed for healthcare data and performs basically two functions: de-identification of the data set and insertion of encrypted patient tokens.
  • The tokens created are based on the personally-identifiable information.
  • The technology uses an irreversible hash function to ensure that the patient's personal identification information used to create the token cannot be recovered from the output value.
  • The hash value is encrypted with a site-specific encryption key to generate the final encrypted patient token that makes sure each patient has a unique token.
Part
04
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Part
04

Datavant Financial Data Part 1

Datavant was launched at the end of 2017 but began operations in 2018. They have generated $17.2 million in revenue so far in 2019 and have a quarterly growth of 39%. These data points have been updated on the attached presentation.

Relevant Information

  • Datavant was officially announced by its parent company — Roivant Sciences — in September 2017.
  • In 2018, they raised $85 million in funding rounds.
  • According to a Biospaces article on Roivant in September 2018, Datavant started generating revenue for the first time in 2018.

REVENUE

Revenue estimates of the company are as follows;

Research Strategy

To provide the 2016 and 2019 revenue, as well as the growth rate of Datavant, we proceeded with an extensive search for the annual report of the company. In the course of research, we found that the company was launched in 2017, hence, no 2016 revenue data exist. Also, we found that the company recorded its first revenue in 2018. Although the annual report of the company is not publicly available, we found an estimate of the breakdown of the company's revenue from 2018 to this day in quarters on a credible third-party website.

CALCULATION OF REVENUE PER YEAR

  • 2018: $2.4 million + $4.6 million + $5.4 million = $12.4 million
  • 2019: $8.8 million +$4.2 million + $4.2 million = $17.2 million

CALCULATION OF GROWTH

  • Formula: (FV/IV)^(1/Years) — 1. Where FV (final value) = $17.2 million, IV (initial value) = $12.4 million, Years = 1.
  • (17,200,000/12,400,000)^(1/1) — 1 = 39%





Part
05
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Part
05

Datavant Financial Data Part 2

Datavant has raised a total of $40.5 million in funding over 1 round. The company is valued at around $162 million - $243 million. Details have been entered in slide 1 of the attached presentation.

CAPITAL RAISED AND VALUATION

  • According to Datavant, the company is financially backed by Roivant Sciences, Softbank, and Founders Fund.
  • On 1st May 2018, Datavant completed $40.5 million financing round.
  • Other competitors' insights platform such as PitchBook, Index, and WeTech Rotterdam confirm that Datavant has raised $40.5 million in early-stage VC fund led by Roivant, Softbank, and Founders Fund (Travis May).
  • Dealroom estimates that Datavant is valued at around $162 million to $243 million. This estimate is based on the last funding round amount using similar rounds as benchmarks.
Part
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Part
06

Datavant Products/Services & Data Elements

The key products/services offered by Datavant include data protection, data linkage, and data exchange. In the attached presentation, on slide 2, all requested information can be found.

Datavant Product Offerings

  • Datavant offers data protection services. It offers technology that helps healthcare stakeholders protect their data “within and across multiple organizations” without risking protected health information (PHI).
  • It also offers data linking services, thus it joins patient records across multiple sources whereby none of the parties need to expose the personal identification information of patients.
  • Furthermore, it offers data exchange services. Datavant technology enables hundreds of data sources to discover data and exchange it with their partners.

Data Elements

  • The key data elements of Datavant include pharmacy, claims, EHR, omic, lab reports, wearable, behavioral data, genomic, socioeconomic, consumer, and mortality data.
  • By linking these de-identified data sources, Datavant enables the data to flow across networks while ensuring patient information privacy.
  • Datavant helps different stakeholders to connect de-identified health data for patients including healthcare providers, life sciences companies, payers, and analytics companies.

Part
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Part
07

Datavant Tech & Shareholders

Datavant uses different technology for storing, searching, and securing data. Its shareholders are Roivant Sciences, Softback, Founders Fund, Travis May, and Tom Chavez. The requested information can be found in the attached presentation.


SUMMARY OF FINDINGS

Technology


Shareholders


The above information can be found compiled in the technology and shareholder of slide 2 in the attached presentation.
Part
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Part
08

Datavant Key Customers

Datavant's health care organization customers are Komodo Health and Prognos Health, while biopharma's include Parexel, G3, and Verge Genomics. The requested information can be found on slide 2 of the attached presentation.


GENERAL DETAILS ABOUT DATAVANT CUSTOMERS


DATAVANT'S HEALTH CARE ORGANIZATION CUSTOMERS

  • Komodo Health: Datavant works with Komodo Health to connect thousands of de-identified patient datasets on the latter's healthcare intelligence platform to reduce healthcare costs and enhance patient outcomes.
  • Prognos Health: Prognos Health is a leader in AI-powered analytics for tracking and predicting disease outcomes. Datavant technology allows the organization to safely and securely connect their data and inform clinical decisions and identify risk.


DATAVANT'S BIOPHARMA CUSTOMERS

  • Parexel: Datavant's and Parexel's partnership is focused on delivering advanced data as well as real-world evidence analytics to enhance the development and commercialization of drugs.
  • Global Genomics Group (G3): Datavant works closely with G3 to pace the development of drugs through data-driven approaches to clinical trial design and interpretation.
  • Verge Genomics: Verge Genomics maintains a database of genomic data in Parkinson’s and amyotrophic lateral sclerosis. With Datavant technology, the company is capable of connecting data from early discovery to clinical development thus unlocking new opportunities for clinical trials and interpretation.


DATAVANT'S CRO CUSTOMERS

The above information has been compiled and organized accordingly in slide 2 of the attached presentation.

Part
09
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Part
09

Datavant Management/Leadership Background

The 12 leadership/management executives at Datavant are Travis May, Steve Swank, Nick Colburn, Patsy Bailin, Aneesh Kulkarni, Shahir Kassam-Adams, Jason LaBonte, Sam Roosz, Holly May, Bob Borek, Jasmin Phua and Jacob Plummer.

C-Level Executives at Datavant


Other Leadership/Management Executives








Part
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Part
10

Datavant Partnerships

Since its founding in 2017, Datavant has acquired two companies: Universal Patient Key and Health Data Link. The company has also partnered with seven companies: Verge Genomics, G3, Duke Research Institute, Worldwide Clinical Trials, Parexel, Komodo Health, and Prognos Partners. Through the acquisitions and partnerships, Datavant will gain access to UPK's suite of software, G3's G3LOBAL database, Komodo's Integrity platform, and Prognos' Opal software.

Acquisitions

  • On April 30, 2018, Datavant announced the acquisition of Universal Patient Key for an undisclosed amount.
  • UPK provides HIPAA-compliant de-identification services for healthcare data. The acquisition improved Datavant's position in providing healthcare organizations with the ability to safely link research and patient data. Datavant also gains access to UPK's suite of HIPPA-compliant de-identification software.
  • On June 3, 2019, Datavant announced the acquisition of Health Data Link for an undisclosed amount.
  • Health Data Link provides data linkage for academic medical centers and research institutes. The acquisition improves Datavant's position in the open health/academic data ecosystem.

Partnerships

  • In January 2018, Datavant formed partnerships with and Duke Clinical Research Institute (DCRI), Verge Genomics, and Global Genomics Group (G3).
  • DCRI became Datavant's academic partner with an initial focus on the cardiopulmonary area.
  • The partnership with Verge will focus on new opportunities in trial design specifically in the areas of Parkinson’s and amyotrophic lateral sclerosis.
  • Datavant is partnering with G3 to work on the company's G3LOBAL database with the goal of creating new trial enrollment models in addition to better endpoints and trial results.
  • In May 2018, Datavant partnered with Worldwide Clinical Trials. The partnership will link WCT's clinical trial studies to Datavant's healthcare data with the goal of improving drug development in the areas of ALS, Alzheimer’s, Parkinson’s, and Huntington’s.
  • In September 2018, Datavant announced a partnership with Parexel International Corporation. The partnership aims to improve the processes of drug development and commercialization by allowing healthcare data to be linked from both real-world and clinical data studies.
  • Datavant announced a partnership with Komodo Health in February 2019. The partnership will allow the companies to connect de-identified patient datasets using Komodo's Integrity platform.
  • In June 2019, Datavant began a partnership with Prognos Partners. The partnership will combine Datavant's health data ecosystem with Prognos' AI-powered analytics software, Opal, to help health care providers easily access data and make informed clinical decisions.

Research Strategy

In order to locate a full list of acquisitions and partnerships for Datavant, we first leveraged the press releases from the company's website. There we discovered press releases announcing the two acquisitions and the partnerships with Parexel, Komodo, and Prognos. We then utilized information and news links published on the company's Crunchbase profile. We were able to confirm the two acquisitions in addition to finding the partnership with Worldwide Clinical Trials. Finally, we performed a general press search and scoured news articles from 2017 through 2019. Here we were able to discover the additional partnerships with Verge, G3, and DCRI.


Part
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Part
11

Datavant Competitors Part 1

The companies Comprehend Systems, YPrime, and Saama Technologies are all direct competitors of the health data group Datavant. Comprehend System is seen to have locations in the United States, and the United Kingdom, with current movements in China. YPrime also having European and Asian footprints has operations in the United States, the United Kingdom, Macedonia, Australia, and China. Saama Technologies is similarly set up with footprints in found in Asia, with operations in the United States, India, and the United Kingdom. All relevant information has been documented in the attached spreadsheet.

DATAVANT COMPETITORS

COMPREHEND SYSTEMS

Overview

  • Comprehend is a technology company utilizing cloud-based software for clinical operations.
  • Founded in 2010, Comprehend Systems has been dedicated to the innovation of clinical trials.
  • The company provides clinical intelligence applications to solve problems in portfolio monitoring and continuous quality, CRO oversight and collaboration, risk monitoring, and medical monitoring.

Competitive Advantage

  • Comprehend Systems is found to have developed a new class of software for clinical trials to increase performance and reduce risk. By reducing manual work and removing the normal complexity of data management in clinical trials, Comprehend's software reduces the waiting period between data requests and availability.
  • With the importance of sponsors maintaining reduced risk and increased profitability, Comprehend Systems promotes better decision-making through it's offering of actionable insights. The company further facilitates automated oversights and collaborations across studies, systems, and CROs at each stage. This is in an attempt to reduce errors and the chance of missing data.
  • Comprehend makes it easier to manage data and keep up to date records while decreasing query resolution times. The company also enables the coordination of activities from start-up to database lock, and make strategic contributions to risk-based management (RBM) initiatives.
  • Comprehend's cloud-based software allows for efficient data management allowing CROs to improve study planning, enrollment, compliance, productivity, and oversight. Comprehend encourages improved study performance with reduced study risk through what it calls it's "Clinical Intelligence Suite".

Target Market, Products/Services and Technology

  • Comprehend Systems offers services to Contract Research Organizations (CROs) and other Sponsorship groups.
  • Comprehend provides collaborative cloud-based applications for risk and performance management.
  • The company provides new software applications for data management in clinical trials.
  • CROs and sponsors can optimize productivity, enrollment, planning, and oversight through powerful data aggregation, analytics, monitoring, and collaboration.
  • Comprehend Systems utilizes cloud-based technology in the formation of their applications.

YPRIME

Overview

  • YPrime is a cloud-based software company coming up with management solutions for clinical trials.
  • Simplifying clinical trial management, YPrime builds its technology on the latest platforms, providing the highest quality. With the main goal of optimal experience, YPrime promotes speed, efficiency, transparency, and expertise in their services.

Competitive Analysis

  • YPrime operates an eCOA (Clinical Outcome Assessment) platform, an IRT platform, and offers eClinical consulting.
  • The eCOA platform is used for patient data collection and is the first of its kind to allow flexibility, speed, and precision. Combined with the IRT platform, the eCOA platform provides operational efficiency and handles issues such as inventory management, mobile reporting, device flexibility, and much more.
  • YPrime's eCOA provides the technology platform with the resources from experienced outlets while allowing patient data collection in any setting.
  • YPrime has proven to help reduce clinical risks with their IRT solutions. These end-to-end solutions allow for the management of clinical supplies and patient interactions.
  • Offering a wide range for early and late phase studies, YPrime's IRT system provides a simplified management avenue for patient interactions, with complete visibility into their clinical supply journey.
  • Solving clinical data problems is another service offered by YPrime through their eClinical Consulting option. With data integration, clients are provided with information from YPrime's knowledgeable specialists to help them better make informed decisions. Built on the integration of clinical systems, YPrime allows the integration of clinical trial data from any eClinical database.

Target Market, Product/Services and Technology


SAAMA TECHNOLOGIES

Overview

Competitive Analysis

  • Saama Technologies operates an artificial intelligence-based Life Science Analytics Cloud (LSAC). This system delivers aggregated operational and clinical data, provides a holistic view of performance, and gives clinical data management and statistics for operations.
  • With this platform, Saama saves 50% of data management time, reduces risks in clinical development, and provides fast insights. The Life Science Analytics Cloud uses inclusion-exclusion criteria to identify patient populations. It organizes patient information based on diagnosis, procedure, and drug therapy, in an attempt to highlight specific population groups that fit certain criteria.
  • This cloud also provides into pharmaceutical products market share performance as well as the tracking of a patient's journey. The effect of outcomes-based agreements on market share can be predicted with the clinical and economic value of treatment patterns identified.
  • Using artificial intelligence a patient's clinical and commercial journey is monitored in order to attain which pathways and treatments produce better outcomes.

Target Market, Products/Services and Technology


RESEARCH STRATEGY

To begin our search we first looked at business review websites such as Hoovers, CraftCo, and Crunchbase to identify the direct competitors of Datavant. Through this search we were able to come up with some competitors of Datavant, ensuring that each company has some form of footprint in Asia or Europe.

After identifying the competitors, we visited their official websites to obtain information on their operations, products, services, as well as some of their technological innovations that have been employed through their services.

We also looked through media websites such as Forbes, Business Wire, and PR News Wire; and company profiling websites such as Bloomberg to gain a further understanding of the cutting edge technologies offered by the three companies.

Part
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Part
12

Datavant Competitors Part

Analysis of competitive advantage and other relevant information has been provided for Saama Technologies, Omnicomm Systems, and eClinical Solutions. A summary of each company is detailed below, and all the requested details have been compiled in columns F-H of the attached spreadsheet.


SAAMA TECHNOLOGIES

  • Saama Technologies is an advanced clinical data and analytics company striving for better business outcomes in the field of life sciences. Their goal is to provide enterprise-level views of raw data encouraging pharmaceutical and biotechnology companies to bring the best products to the market.
  • Saama Technologies operates an artificial intelligence platform which allows the generation of clinical information to be completed in days as opposed to months.

OMNICOMM SYSTEMS

  • OmniComm Systems provides strategic software solutions to the life sciences industry.
  • OmniComm Systems's clients are pharmaceutical and biotechnology companies, contract research organizations, diagnostic and device firms, and academic medical centers.
  • OmniComm's solutions are designed to drive efficiency in clinical development, manage risks, manage their clinical operations performance and ensure regulatory compliance.
  • OmniComm provides solutions for clinical research with an extensive global dataset from over 6,000 clinical trials.


eCLINICAL SOLUTIONS

Information on each companies' competitive advantage, technologies, target market, and products and service can be found in rows F-H in the attached spreadsheet.

Sources
Sources

From Part 02
Quotes
  • "Over 40 institutions utilize Health Data Link's health data connectivity solution, which will become seamlessly integrated with Datavant's ecosystem of over 200 institutions that have made their health data linkable."
Quotes
  • "Datavant is forging strategic partnerships with leading pharmaceutical companies, payers, providers, and analytics companies to build an ecosystem of data that represents over 150 million unique patients, and includes detailed clinical trial outcomes from over 33,000 trials. "
  • "Healthcare data is extremely siloed today, and we aspire to organize it to accomplish our goal of doubling the success rate of drugs entering clinical trials by 2020."