CAMBRIDGE, Mass., Jan. 29, 2014 /PRNewswire/ -- GNS Healthcare, a leading provider of big data analytics products and services in healthcare, today announced the completion of a $10M Series B financing. Cambia Health Solutions, a Series A investor, was joined in the round by two additional strategic investors: California's Heritage Provider Network, and Mitsui & Co. (U.S.A.), Inc. ("Mitsui USA"). This round of financing will be used to expand GNS Healthcare's successful data analytics business across the healthcare industry.
"Personalizing health care means putting the consumer at the center of all we do, and this requires us to approach opportunities in a new way," said Mark Ganz, president and CEO of Cambia Health Solutions and chairman of the trade organization America's Health Insurance Plans. "Supporting transformative businesses like GNS Healthcare benefits our health plan members and brings a new value proposition based on data analytics to the entire US healthcare industry."
GNS Healthcare uses patented big data analytics methods to build predictive models and products to discover the underlying causal relationships in healthcare and predict the effects of health interventions for individual patients. These models and products are used by pharmaceutical companies, health plans, and providers to address a number of crucial population health management questions, including predicting individual and population risk and costs, comparing the effectiveness of treatments, targeting member engagement to improve medication adherence, and discovering biomarkers that predict patient response to medications.
"It is clear that data-driven healthcare is the future of the industry, from finding optimal combinations for cancer therapies to identifying biomarkers for clinical trials. The market potential for big data is huge, as it will radically change how we develop, pay for, and utilize therapies and other interventions for patients," said Masahiro Moriyasu, SVP at Mitsui USA. "We are at a critical moment in healthcare, and now is the time to invest in the type of data-driven solutions GNS offers the healthcare industry."
"Our interest in healthcare data as it relates to forecasting healthier, more cost effective outcomes that directly benefits our members makes this investment in GNS a good fit for us," said Dr. Richard Merkin, CEO and Founder of Heritage Provider Network.
"Our work with leading pharmaceutical companies, health plans, and providers continues to demonstrate the enormous potential that big data has to create value in all areas of healthcare," said Colin Hill, CEO of GNS Healthcare. "With the help of Cambia, Heritage, and Mitsui USA, we will continue to provide healthcare stakeholders with models and products that will improve outcomes while decreasing healthcare costs."
About GNS Healthcare
GNS Healthcare predicts what works in healthcare and for whom. Our models and products, derived from massive quantities of patient data, are being applied across the healthcare industry: from pharmaceutical and biotechnology companies, health plans, and hospitals to integrated delivery systems, pharmacy benefits managers, and accountable care organizations. REFS™ is GNS Healthcare's scalable, supercomputer-enabled framework for discovering new knowledge from data. REFS™ automates the discovery of causal models from observational and experimental data and uses high-throughput simulations to generate new knowledge. www.gnshealthcare.com
GNS Healthcare, Inc.
Thomas A. Neyarapally
EVP, Corporate Development
MacDougall Biomedical Communications
SOURCE GNS Healthcare, Inc.