NEW YORK, Feb. 21, 2018 /PRNewswire/ -- Cota Inc., a healthcare real-world evidence and data analytics company bridging precision medicine to population health, today announced the completion of a Series C round of financing led by IQVIA (NYSE: IQV) with major participation by EW Healthcare Partners.
Cota will leverage this funding to scale its solutions across healthcare providers, payers and life sciences companies. The funding will also advance its proprietary Cota Nodal Address™ (CNA) system, a powerful and unique precision disease classification system built on its comprehensive real-world data set. Memorial Sloan Kettering Cancer Center also participated in the round, along with existing Cota investors which include, Boston Millennia Partners, Horizon Blue Cross Blue Shield of New Jersey, Hackensack Meridian Health and Atoc Holdings.
"With our CNA classification system and powerful analytics, we are confident that Cota will revolutionize both patient care and healthcare economics. Moreover, the depth and richness of our real-world evidence set empowers life sciences companies to gain new insights into their compounds, accelerate market applications and support clinical trials," said John Hervey, chief executive officer at Cota. "We're poised to expand our team and add new capabilities to support the company's rapid growth."
Andrew Pecora, M.D., founder and executive chairman of Cota added, "My intent in creating the CNA and launching Cota in 2012 was to enable the healthcare industry to address the value of care. Since then, we have proven that CNAs enable patients to get optimal care and improve outcomes, while payers see greater efficiencies and less waste, thus reducing total cost of care. CNAs embody all that is relevant and unique about a person, their disease and intent of care, allowing precision medicine to be bridged to population health."
"We are excited to support Cota's unique oncology analytic environment and real-world data capabilities," said Jon Resnick, president, Real-World & Analytics Solutions at IQVIA. "We have been investing in applying data science to accelerate drug development, ensure patient access to innovative therapies, and make value and outcomes more transparent to align all healthcare stakeholders. Investing in Cota is consistent with that vision."
With its participation in the Series C round, IQVIA has secured a seat on Cota's board of directors. IQVIA is a leading global provider of information, innovative technology solutions and contract research services focused on using large scale analytics, transformative technology and extensive domain expertise to help healthcare clients find better solutions for their patients.
"Cota occupies a unique place in the healthcare ecosystem, benefitting payers, providers and life sciences companies with its proprietary capabilities," said Steve Wiggins, managing director at EW Healthcare Partners. "They are uniquely positioned to advance drug development as well as value-based payment arrangements – initially in oncology and eventually in other specialties."
Cota's CNA-based Real World Evidence (RWE) offerings include Cota Research, Cota Payer Solution, Cota Provider Solution and Cota Life Sciences. The power of CNAs and Cota RWE is currently being leveraged by some of healthcare's most prominent organizations across the spectrum of providers, payers and life science companies.
Versari Private Capital Advisors acted as the exclusive financial advisor to Cota for its Series C financing.
About Cota Cota is a healthcare data and analytics company that enables providers, payers and life science companies involved in diagnosing and treating complex diseases to optimize the outcomes of individual patients and lower the overall cost of the patient population served. It is powered by the patented Cota Nodal Address™ (CNA) system, a unique digital classification methodology built by leading physicians and data scientists. The CNA is the first and only system that precisely categorizes patient factors, their diseases and intended therapies, enabling precision medicine at scale. Cota's real-world evidence sets are being used by life science companies to expand the application of precise clinical data to broaden the efficacies and lower the costs of clinical trials.
Cota's technology enriches medical records to create research-grade data and joins it with a suite of analysis, visualization and management tools. This enables providers, payers and life science companies to analyze, report on and research outcomes, costs, treatments and quality at any granularity and stage of the patient journey. The result is a constantly improving system that merges technology and medicine to improve the lives of patients everywhere. For more information, go to www.cotahealthcare.com.
About IQVIA IQVIA is a leading global provider of information, innovative technology solutions and contract research services focused on helping healthcare clients find better solutions for patients. Formed through the Merger of IMS Health and Quintiles, IQVIA applies human data science – leveraging the analytic rigor and clarity of data science to the ever-expanding scope of human science – to enable companies to reimagine and develop new approaches to clinical development and commercialization, speed innovation, and accelerate improvements in healthcare outcomes. Powered by the IQVIA CORE™, IQVIA delivers unique and actionable insights at the intersection of large scale analytics, transformative technology and extensive domain expertise, as well as execution capabilities to help biotech, medical device, and pharmaceutical companies, medical researchers, government agencies, payers and other healthcare stakeholders tap into a deeper understanding of diseases, human behaviors and scientific advances, in an effort to advance their path toward cures. With more than 55,000 employees, IQVIA conducts operations in more than 100 countries.
IQVIA is a global leader in protecting individual patient privacy. The company uses a wide variety of privacy-enhancing technologies and safeguards to protect individual privacy while generating and analyzing the information that helps their customers drive human health outcomes forward. IQVIA's insights and execution capabilities help biotech, medical device and pharmaceutical companies, medical researchers, government agencies, payers and other healthcare stakeholders tap into a deeper understanding of diseases, human behaviors and scientific advances, in an effort to advance their path toward cures. To learn more, visit www.IQVIA.com.
About EW Healthcare Partners With over $3.0 billion under management, EW Healthcare Partners is one of the largest and oldest growth equity firms pursuing investments in pharmaceuticals, medical devices, healthcare services, and healthcare information technology. Since its founding in 1985, EW Healthcare Partners has maintained its singular commitment to the healthcare industry and has been involved in the founding, investing, and/or management of over 150 healthcare companies, ranging across sectors, stages, and geographies. The team is comprised of over 20 senior investment professionals with offices in New York, London, Palo Alto and Houston.
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