This week in Healthcare: Pharma firms turn to AI/ML to detect illness outbreaks, anticipate health trends, and improve public health
Latest Industry Insights from Draup Braindesk
Insurers are enhancing their business operation engagements by adopting technologies such as AI, RPA, and Data Analytics
Cloud-hosted Health Insurance Advisory
Insurance applications hosted on the cloud, run with the aid of chatbots, are helping individuals in selecting a policy based on their needs, resulting in minimalistic human intervention in solving day-to-day challenges.
Paperless Health Care
Patient experience solutions that are cloud-based provide immersive education in a user-friendly format. Patients can learn about medical problems in electronic formats, with interactive videos and text to enable various learning styles.
Automated Claims Management Platform
With the adoption of claims management platforms, payors can execute end-to-end claims processing, including data filling, checking, and approval/denial decision making.
Automated Claims Processing
Health insurers adopt automation technologies such as RPA, cognitive document processing (CDP), and Optical character recognition (OCR) to streamline the claim process and reduce turnaround time by automating data entry.
Pay-as-you-Use Insurance Platform
Offers usage-based health plans that can be activated/de-activated whenever the customer makes the request.
The providers are banking on AI, RPA, cloud, and big data/analytics to adopt the trends such as EHR, tele-consulting, and AI/ML-based diagnostics to modernize their business models.
Clinical Workflow Automation with Cloud Integration
Software platforms equipped with APIs and SaaS-based solutions interact with cloud-hosted hospital information systems to automate data entry tasks and provide an intuitive interface to accomplish medical coding requirements.
Connects associated entities of the healthcare ecosystem such as patients, providers, payors under a single platform to exchange details of the services.
AI and Analytics-driven Workflow Management
AI-driven tools enable healthcare providers to effectively use semi-structured and unstructured data to diagnose, identify adverse health social determinants, health coaching, and streamlining workflows.
With the expansion of retail clinics and telemedicine services that redirect patients to lower-cost care options, some health systems respond by offering their expertise to smaller or less well-equipped provider systems.
The increasing investments, growth of technology startups, advancement in drug discovery, and developing inter-organizational collaborations spur innovation across the pharma industry trends. Cloud-based Clinical Trails
Advancements in cloud computing help design clinical trials and develop new therapies to identify and deliver novel active molecules.
Drug Exposure Model
Drug exposure models determine the pharmacokinetic and pharmacodynamic properties of drugs for arriving at the correct dosage for medications based on personal characteristics and other clinical parameters.
AI/ML technologies are applied to monitor and predict epidemic outbreaks or seasonal illnesses and help companies plan the supply chain with the predictive forecast.
With telehealth platforms, pharma companies quickly adapt sales & marketing strategies, improve patient outcomes, and reduce healthcare costs like preventing hospital readmissions.
Companies focus on digital devices and shifting towards a more collaborative product development process with high reliance on technologies such as AI/ML, robotics, cloud, and IoT.
Cloud Connected Medical Devices
Enables a constant flow of patient data gathered by medical devices to a care provider’s internal healthcare applications, creating good opportunities for remote patient monitoring using wireless cloud-based medical devices.
The technological advancements in wearable devices and population health management have influenced market players to develop more intelligent devices to cater to customers’ growing needs, enhance bedside care and clinical mobility experience.
Digital therapeutics helps companies develop a digitally guided therapy platform for chronic respiratory disease, which integrates information from multiple sources, including connected medications.
Clinical Decision Support
Clinical decision support (CDS) tools are designed to help shift through enormous amounts of data to suggest the next steps for treatments.
CDS tools are often integrated into the electronic health record (EHR) to streamline workflows.
Latest Reports Published in Draup
Abbott Laboratories Account Intelligence Report: Digitization of operations across devices and systems, drug development and trials, IT & admin are gaining significance with Abbott laboratories. Read More>>
Highmark Health Account Intelligence Report: Highmark Health focuses on fulfilling the IT structure and other business needs via validated business process and cloud-based solutions. Read More>>
Key Funding Alert
Hummingbird Bioscience buzzes with USD 125 Mn series C led by Novo Holdings
The Hummingbird financing signals one of the first investments in a privately held Asian biotech by the Danish pharma company. Novo recently created Novo Holdings Equity Asia Pte. Ltd. in Singapore to focus on Asian life sciences investment. Read More>>
Company – Firefly Health HQ Location – Greater Boston Area, USA Total Funding – USD 52.2 Mn Year of Establishment – 2016 About: Firefly Health provides primary health care services that redefine high-quality patient care. The company uses sophisticated technology with a thoughtful care team experience for continuous, intelligent care that changes behavior and drives value by providing a virtual-first primary care approach. Read More>>
Key Insights and Signals – Hospital & Healthcare
Partnerships AdventHealth expands Walt Disney World partnership to include telehealth at the Florida Theme park This will include an on-demand telehealth platform that guests, employees, and others can access at any time and a mHealth app for scheduling virtual care. Read More>> Hoag’s Fly Well Clinic takes off at John Wayne Airport The 850-square-foot facility is a partnership between the Newport Beach hospital and officials at John Wayne Airport. The Fly Well Clinic will offer COVID-19 vaccinations, urgent care, telehealth consultations, and vital screenings. Read More>> Mayo Clinic, Kaiser Permanente join to offer acute care at home Medically Home seeks to shift a third of acute hospitalized care into the home, reaching underserved and rural communities. Read More>> Baylor Scott & White Health and One Medical announce collaboration The affiliation will provide Dallas-Fort Worth area residents with coordinated care across One Medical’s modernized membership-based primary care model and Baylor Scott & White’s premier network of providers, ambulatory facilities, and hospitals. Read More>> Harvard Pilgrim Health Care collaborates with Ariadne Labs and UMass Memorial Health to launch TeamBirth, an initiative to improve maternal care Lessons from this collaboration will be used to establish TeamBirth as a standard of care that benefits people giving birth across New England. Read More>>Mergers and Acquisitions Piedmont Healthcare accelerates hospital buys throughout Georgia The deal does come with the promise that Piedmont will make University Health the “regional hub” for clinical services in the Augusta area, a little more than two hours from Atlanta. Read More>> DataVita acquires Fortis data center in Glasgow, Scotland DataVita can now accelerate its plans to drive the data center’s environmental and wider ESG focus, open new opportunities with its existing clients, and support its market competitiveness and ability to work with larger users of IT services across the UK. Read More>> US investment giant to take London-listed UDG Healthcare private in USD 3.68 Bn deal UDG has long established itself as a leading provider of high-value services to Pharma and Biotech companies globally, supported by a highly-skilled workforce. Read More>>Executive Movement Trinity Health names Daniel P. Isacksen, Jr. as new executive vice president and chief financial officer Isacksen will lead all financial functions for the system and across the national organization’s Health Ministries, including financial enterprise development, treasury, financial reporting, payer strategies, and revenue excellence. Read More>> Florida CEO promoted to group VP role with Universal Health Services Kevin DiLallo will oversee Manatee Memorial, Lakewood Ranch, Wellington Regional Medical Center, and a planned hospital in Palm Beach Gardens. Read More>> Trinity Health names new chief integrity and compliance officer Dawn Geisert most recently served as senior vice president and chief compliance officer for Southfield, Mich.-based Beaumont Health. Read More>>Deal and Deal Renewal Sectra to provide its enterprise imaging solution to Mary Washington Healthcare They will utilize Sectra’s platform’s radiology and breast imaging modules as well as the enterprise archive (VNA) to store all radiology images, including cardiology images, throughout the organization. Read More>> Phenomix, Mayo Clinic Ink licensing deal for obesity phenotype blood test The multiomics MyPhenome test uses technology developed at the Mayo Clinic to analyze a person’s genomic, metabolomic, and hormone profile, and uses artificial intelligence-driven algorithms to identify which one of four specific obesity phenotypes the person fits: Hungry Brain, a defect of satiation; Hungry Gut, a defect of satiety; Emotional Hunger, emotional reward from eating; or Slow Burn, a defect in energy expenditure. Read More>>Centre setup and Expansion Norton Healthcare opens cutting edge laboratory in Louisville, Kentucky The company recently opened its relocated and expanded CPA Lab, a division of Norton Healthcare. Located in 46,000 square feet of space at the former Hikes Point Kmart site at 2935 Breckenridge Lane, the new location has enabled the organization to consolidate and enhance clinical laboratory resources, technology, and services under one roof. Read More>> Medline Industries invests USD 1.5 Bn in distribution and eCommerce The company recently finished a three-year USD 1.5 Bn project to overhaul and update its supply chain, distribution, information technology, and eCommerce systems. Read More>>
Key Insights and Signals in Pharmaceuticals
Partnerships GlaxoSmithKline puts the squeeze on toothpaste tubes Albéa Group has partnered with GlaxoSmithKline Consumer Healthcare (GSKCH) to launch fully recyclable toothpaste tubes, using its proprietary Greenleaf 2 laminate tube technology GSKCH’s global oral health brands, including Sensodyne, parodontax, and Aquafresh. Read More>> United, Abbott partner to use rapid COVID-19 test for international travel The collaboration will combine Abbott’s BinaxNOW COVID-19 test and the NAVICA app to provide testing and make international travel to the U.S. safer and more accessible for travelers amid the ongoing pandemic. Read More>> Japan’s Astellas Pharma pushes social implementation of advanced research results Based on this agreement, the two companies will establish a system for regularly exchanging information in the drug discovery and healthcare fields. KYOTO-iCAP expects to promote activities supporting establishment and growth of promising venture companies by collaborating with Astellas, which has drug discovery capabilities. Read More>> Hofseth BioCare in Catalent pact to develop delayed-release fish oil capsules The partnership will see Catalent use its proprietary OptiGel® DR technology to encapsulate OmeGo, HBC’s unique fish oil derived from sustainable, traceable, and fresh Norwegian Atlantic salmon. Read More>> Roche teams up with Diabeloop to advance the management of insulin pump therapy The partnership marks Roche’s first step in automated insulin delivery (AID), representing a milestone in Roche’s integrated Personalised Diabetes Management (iPDM) strategy. Read More>>Mergers and Acquisitions Carlyle Group acquires Unchained Labs for USD 435 Million Unchained Labs, based in Pleasanton, Calif., is a producer of life sciences tools. Founded in 2015, the company focuses on solving problems for biologics and gene therapy researchers. Read More>> Zydus to sell animal healthcare business to Zenex for USD 398 Million Zydus further informed that ZAHL would continue to pursue business opportunities in US and certain European countries through Animal Healthcare Emerging Markets Undertaking, which is not part of the transaction. Read More>>Executive Movement Zoetis names CFO to oversee international efforts Wetteny Joseph has impeccable CFO credentials from his years at Catalent, and has built world-class finance organizations and strong relationships with the investment community. Read More>> Sanofi has poached Eleanor Duff from AstraZeneca to become its head of global comms Prior to joining Sanofi, Duff spent five years at AstraZeneca, where she was global head of oncology, R&D, and corporate affairs. Read More>> The Himalaya Drug Company appoints Rahul Kapoor as their new CPO Rahul has over twenty years of experience working with Fortune 500 organizations in Asian business sectors, including India, Japan and Korea, and South East Asia. Read More>>Deal and Deal Renewal Cipla will market & distribute Roche’s antibody cocktail (Casirivimab & Imdevimab) in India The Central Drugs Standards Control Organisation (CDSCO) has provided an emergency use authorization (EUA) for the drug used to treat mild to moderate COVID-19 in high-risk patients. Read More>> Eli Lilly in drug pact with Indian firms The company has inked voluntary licensing agreements with Indian drug firms – Sun Pharma, Cipla, and Lupin – to expedite the availability of its arthritis drug Baricitinib for treatment of Covid-19 patients in India. Read More>>
Key Insights and Signals in MedTech
Partnerships Genetron Health, Siemens Healthineers to help standardize cancer molecular testing in China This partnership aims to promote large scale application of Genetron’s S5 platform and lung cancer 8-gene IVD assay in Chinese hospitals. Read More>> Ingram Micro deepens Sophos partnership with Connect Flex A/NZ push The Sophos MSP Connect Flex program is designed specifically for MSPs and provides the option to integrate service-based pricing into a single monthly billing report delivered through the Sophos Central Partner Dashboard. Read More>> 10x Genomics partners with 2Heads for a virtual launch This ground-breaking virtual product reveal gathered industry trailblazers, innovators, and like-minded scientists from over 87 countries to experience the newest 10x Genomics innovations that are fueling tomorrow’s biotech discoveries. Read More>> Spacelabs Healthcare partners with Masimo to bring advanced measurements to Spacelabs patient monitors The partnership will help clinicians gain more insight into their patients’ physiological status—ultimately helping them improve outcomes. Read More>> Alberta’s Align Orthodontics joins Canadian Orthodontic Partners’ peer network Canadian Orthodontic Partners provides opportunities for orthodontists to develop through mentorships, continuing education, and collaboration with peers. Clinics within the network work together to evolve their practices. Read More>>Mergers and Acquisitions PerkinElmer to buy Immunodiagnostic Systems in USD 155 Million cash deal UK-based IDS is an in-vitro diagnostic solution provider to the clinical laboratory market. IDS develops, manufactures, and markets innovative immunoassays and automated immunoanalyzer technologies to improve patients’ diagnostic outcomes. Read More>> PerkinElmer to acquire Nexcelom Bioscience for USD 260 Million The acquisition enhances PerkinElmer’s preclinical product portfolio and its QA/QC expertise in cell and gene therapy and the manufacture of biologics. Read More>> PerkinElmer expands cell biology leadership with an agreement to acquire Nexcelom Bioscience Highly complementary cell counting and analysis capabilities bolster preclinical portfolio and enhance QA/QC capabilities in cell and gene therapy and biologics manufacturing. Read More>> 3D Systems acquires bioprinting firm Allevi This acquisition aims to position 3D Systems to effectively address a broad spectrum of applications in the rapidly evolving field of regenerative medicine, which is projected to grow by more than 15% per year by multiple research houses, including Medgadget, Research and Markets, and Allied Market Research, and could surpass $18 billion by 2025. Read More>> ZEISS to acquire Capture 3D to extend its industry expertise in 3D measurement and inspection solutions The company plans to expand its national coverage in the US for its Industrial Quality & Research segment by acquiring Capture 3D. Capture 3D is the leading US partner for GOM 3D non-contact measuring solutions. Read More>>Deal and Deal Renewal Boston Scientific to get Y-90 glass microspheres from BWXT Medical Ltd. The product is developed for the treatment of patients with hepatocellular carcinoma (HCC), TheraSphere treatment is comprised of millions of glass microspheres containing radioactive Yttrium-90, which are delivered directly to liver tumors via the catheter and result in minimal exposure to surrounding healthy tissue. Read More>> US Department of Defense awards USD 178.5 Million Contract to Hologic The contract is for the firm’s Panther Fusion SARS-CoV-2 assays, Aptima SARS-CoV-2 assays, multiplex test kits, and associated reagents and consumables. Read More>>
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