BEIJING, Nov. 1, 2016 /PRNewswire/ -- Oncology big data company Medbanks and IMS Health recently announced a strategic partnership through which the two companies will broadly collaborate on establishing and commercializing Medbanks' foremost oncology-focused clinical database in China.
Oncology is a highly prevalent, complex, and personalized field. In 2015, there were an estimated 4.3M new cancer cases and 2.8M cancer-related deaths in China. According to public authorities, cancer-related cost of care has exceeded RMB 100 billion annually, making it one of the most critical public health issues in China today. Healthcare is a highly data-intensive industry, particularly as it pertains to oncology care given the highly complex and personalized nature of the disease. As such, access to high quality, structured clinical data is critical to the provision and advancement of oncology care. A centralized, standardized oncology clinical database can not only provide a view of the clinical landscape as it exists today, it can also enable better designed research, better informed clinical treatment decisions, and ultimately better outcomes. Furthermore, such a platform can maximize efficiency for stakeholders across the entire healthcare value chain, ranging from the drug and device manufacturer to the care provider to the payer, all while maximizing end benefit to the patient.
Medbanks is the foremost oncology big data company in China, while IMS Health is a prestigious global services provider of healthcare data and technology. Together, Medbanks and IMS will aim to establish and implement data standards that will unlock the commercial and clinical value of oncology-related clinical data by ensuring collection of the highest data quality while enabling interoperability and analyzability of such data both within and outside of China. This strategic collaboration between Medbanks and IMS Health is positioned to deliver world-class oncology-specific clinical database in China, and promises to elevate the overall quality of cancer-related research, clinical management, and outcomes in China.
Dr. Brian Mi, Head of Greater China Region at IMS Health, said: "This collaboration with Medbanks will greatly benefit both companies' existing efforts in oncology in China, enabling us to more efficiently create a comprehensive, real-world view of the oncology clinical landscape today. Collectively, we will leverage this database to provide the highest quality insights and services to the life science industry and other industry partners."
Peter Ma, Founder and CEO of Medbanks, added, "Medbanks is honored to enter into a strategic collaboration with IMS Health in China. Through this partnership, Medbanks can benefit directly from the years of industry-leading experience that IMS has accumulated in the field of healthcare data and service, and in doing so, establish the highest quality oncology-focused clinical database in China to support the continued advancement of oncology research and care in China."
IMS Health is an industry-leading healthcare data, technology and solutions vendor providing services to the global healthcare market. IMS Health has a global footprint that spans across 100 countries and over 15,000+ employees, collectively providing local healthcare market insights and services to a wide variety of stakeholders, including biopharma, consumer health, medical device, distribution, insurance, non-profits, government, academia, and financial institutions.
Medbanks was founded in 2014 and is the premier oncology-focused clinical big data company in China. Medbanks' database represents the largest repository of oncology clinical data, encompassing over hundreds of thousands of individual cancer patient cases of all major tumor types across several hundred oncology departments in major cancer centers throughout China. The Medbanks team consists of medical and technology professionals with deep knowledge and extensive experience in the oncology field. Medbanks investors include Tencent, Eight Roads Ventures China (formerly Fidelity Growth Partners Asia), F-Prime Capital Partners (formerly Fidelity Biosciences), and Ping An Ventures (venture investing arm of Ping An Insurance Group).
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