NEW YORK, Nov. 3, 2015 /PRNewswire/ -- Medivo, Inc., a leader in lab data analytics, today announced that it has formed a nonexclusive laboratory data licensing agreement with Quest Diagnostics (NYSE: DGX), the world's leading provider of diagnostic information services. The agreement is designed to enhance Medivo's ability to identify opportunities to educate physicians about new and potentially under-utilized drug therapies that could improve outcomes for patients.
"Our agreement with Medivo is the latest in a series of steps Quest has taken this year to further leverage our lab data to drive better outcomes," said David Freeman, general manager, Quest Diagnostics Information Ventures. "Through collaborations with progressive healthcare solutions companies like Medivo, and our own clinical and technology expertise, we are committed to providing insights that are actionable, not just for physicians and patients, but for therapy developers, health plans and health systems. We look forward to collaborating with Medivo to realize the full value of this unique competency to drive better healthcare."
Under the agreement, Quest Diagnostics will provide clinical and bioinformatics expertise as well as analysis of its de-identified laboratory data to Medivo, in order to identify patterns in test ordering and result values in specific clinical disease categories. Medivo uses these results, in conjunction with other datasets, to identify physicians whose patients may benefit from FDA approved drugs. One example is the new class of cholesterol lowering drugs, PCSK9 inhibitors, which may be effective in patients in whom traditional statins are ineffective.
In addition, Quest's scale in highly advanced genomic and genetic tests for low-prevalence diseases makes Quest's data potentially helpful in linking "orphan" drugs with the caregivers of patients with low-prevalent and rare disorders.
"Medivo's analytic solutions are designed to transform lab data into actionable information. While we currently service the majority of the top 15 pharma companies, analyses based on the addition of Quest's 20 billion laboratory test results allows us to provide solutions for more conditions to more brands. Through this relationship, Quest and Medivo will enhance the ability of laboratory data to inform physicians, and improve the odds patients can access the treatments that will help them." said Sundeep Bhan, CEO of Medivo.
"With more than 40 drug therapies approved by the FDA last year alone, it is virtually impossible for physicians to stay on top of the various options available to them to help improve treatment for their patients," said Harvey W. Kaufman, MD, senior medical director, Quest Diagnostics. "Because of Quest's analytics expertise and massive datasets, the addition of Quest's data to Medivo's analytics solutions will greatly improve the ability to focus outreach programs to help patients gain access to therapies that will potentially benefit them."
The Quest Diagnostics database consists of more than 20 billion laboratory test results on conditions ranging from diabetes, cholesterol, oncology, pregnancy health and other clinical areas. The company participates in data analytics research of this data in de-identified form with top public and private healthcare institutions, including the Centers for Disease Control and Prevention (CDC) and UCSF, to enhance public and private health initiatives. Quest also routinely publishes novel research of insights on this de-identified data in peer-reviewed publications as part of its Quest Diagnostics Health Trends™ series of reports. In October, Quest and Inovalon launched Data Diagnostics™, a suite of hundreds of real-time patient-specific data analyses that clinicians can order individually, on demand at the point of care, to identify and address gaps in quality, risk, utilization and medical history insights. Quest also collaborates with partners on select pre-clinical drug development data analysis.
About Medivo Medivo is a healthcare data analytics company that unlocks the power of lab data to improve health. Medivo is the largest source of lab data in the U.S., with access to over 150M patients through its nationwide network of partner labs. Labs are able to de-identify data on their premises using Medivo's OPAL™ De-Identification Software. Medivo then analyzes these large, de-identified data sets and shares its findings with the medical community at large, as well as with its life science, payer and lab partners, to ensure that appropriate available treatments are provided to patients sooner. Founded in 2010, Medivo's investors include Safeguard Scientifics, Inc. (NYSE: SFE) and Merck Global Health Innovation Fund (GHIF). For more information, visit www.medivo.com.