HEALTH TECHNOLOGY
IQVIA | September 29, 2022
IQVIA a leading global provider of advanced analytics, technology solutions and contract services to the life sciences industry announced its Decentralized Clinical Trial (DCT) program has received GDPR compliance validation from TRUSTArc. This marks the first instance of a DCT service receiving this European data privacy validation.
TRUSTArc’s third-party validation demonstrates that IQVIA’s DCT program processes personal data in accordance with GDPR, allowing customers to address participant and investigator privacy concerns that may arise because of their participation in decentralized trials.
“At IQVIA, we are committed to delivering decentralized studies, we recognize the criticality of patient data protection in doing this and we understand the focus on data protection by European regulators,” said Ronan Brown, SVP and head of Patient Centric Solutions & Decentralized Trials. “IQVIA is proud to have this validation prove our longstanding dedication to data protection in decentralized trials.”
TRUSTArc maps it’s GDPR Validation requirements to applicable GDPR Articles and ISO 27001 standards, alongside the standards of it’s own Privacy and Data Governance Accountability Framework. This validation is yet another step IQVIA has taken to enable DCTs to be brought to a wider group of participants, improving diversity, sustainability, and trust in clinical development.
“Achieving a GDPR validation demonstrates IQVIA’s commitment to ensuring the highest standards of delivering decentralized studies to the people it serves. Organizations of all sizes must become privacy-forward to earn the trust of their customers. IQVIA has consistently prioritized being privacy-forward to earn the trust of their customers and the TRUSTArc GDPR and CCPA Validations reinforce that standing.”
Chris Babel, CEO, TRUSTArc
About IQVIA
IQVIA is a leading global provider of advanced analytics, technology solutions, and clinical research services to the life sciences industry. IQVIA creates intelligent connections across all aspects of healthcare through its analytics, transformative technology, big data resources and extensive domain expertise. IQVIA Connected Intelligence™ delivers powerful insights with speed and agility — enabling customers to accelerate the clinical development and commercialization of innovative medical treatments that improve healthcare outcomes for patients. With approximately 82,000 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 information on a scale that helps healthcare stakeholders identify disease patterns and correlate with the precise treatment path and therapy needed for better outcomes. 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.
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FUTURE OF HEALTHCARE
Veritas Capital | August 08, 2022
Veritas Capital a leading technology and government investor with deep healthcare expertise, announced that an affiliate of Veritas completed the combination of two complementary revenue cycle management businesses: Coronis Health and MiraMed Global Services. The combination creates a scaled RCM platform providing end-to-end technology-enabled solutions to a diverse set of healthcare providers across the U.S. The newly combined company benefits from meaningfully increased scale, end-to-end RCM capabilities across multiple specialties, and robust infrastructure with over 8,500 employees globally.
The combined company will be led by Coronis CEO Stephen Grubbs. MiraMed’s founder and CEO Tony Mira will serve as Vice Chairman of the Board of Directors.
Veritas has a proven track record of driving growth for companies within the healthcare technology market. The firm brings a culture of intense customer focus and accelerating growth through investment in R&D and product innovation.
Coronis is a leading provider of end-to-end RCM solutions to U.S. healthcare providers including primary and specialty physician practices, anesthesia groups, laboratories, emergency medical services, behavioral health centers, FQHCs, and hospitals. Since its founding in 2015, Coronis has rapidly become an industry leader with an emphasis on quality, transparency, and customer satisfaction. Coronis’ solutions address the full RCM continuum for a patient’s journey, allowing clients to focus on delivering high quality patient care to communities they serve. Veritas acquired Coronis from 424 Capital and other minority shareholders.
Founded by Tony and Sue Mira in 1979, MiraMed is a leading provider of end-to-end RCM and business process outsourcing services for anesthesia practices and commercial healthcare clients in the U.S. MiraMed delivers medical coding, billing, and receivables management solutions to regional anesthesia-focused physician practices and other commercial healthcare clients, supported by a highly strategic hybrid onshore/offshore delivery model. Veritas acquired MiraMed from the Mira family, who will retain an ownership position in the combined company.
“This combination brings together two highly complementary businesses with a shared mission to improve operations for healthcare providers across the U.S. Coronis’ end-to-end RCM solutions paired with MiraMed’s expertise and global infrastructure creates a robust platform for growth in a highly fragmented market. We look forward to leveraging our expertise in healthcare technology to support the combined company and, in partnership with management, deliver innovative technology-based solutions to ensure the continued success of the company’s healthcare provider clients.”
Ramzi Musallam, CEO and Managing Partner of Veritas Capital
“We are thrilled to partner with Veritas Capital through this combination, which will better position us to help our clients focus on providing what’s most important – the absolute best patient care,” said Mr. Grubbs, CEO of Coronis. “MiraMed has a terrific team and value proposition, and we are confident that, with a larger platform and enhanced resources provided by Veritas, the combined company is poised for continued organic and inorganic growth to benefit our clients, employees, and partners."
“Our family built MiraMed to serve the growing needs of our healthcare clients and their patients. By combining with Coronis, we created a new company with the scale, resources, and global infrastructure to provide an expanded set of solutions to our clients,” said Tony Mira, founder and CEO of MiraMed. “Together, we will expand our operational footprint to serve clients across various specialties and make investments in technology to enhance operations for our clients across the healthcare industry. I look forward to working with the talented team at Coronis, as well as Veritas, as we embark on this next chapter.”
“Our investment in Coronis and partnership with Stephen and the entire management team firmly established how our playbook can create value in the healthcare technology sector,” said 424 Capital Managing Partner Walter Beinecke. “We welcome Veritas as the new stewards of Coronis and wish the team continued success.”
Latham & Watkins LLP served as legal counsel to Veritas. Lincoln International LLC and TripleTree LLC served as financial advisors to Veritas. Guggenheim Securities LLC served as lead financial advisor and Whiteman Osterman & Hanna LLP served as legal counsel to Coronis. Gibson, Dunn & Crutcher LLP served as legal counsel to MiraMed.
About Veritas Capital
Veritas is a longstanding technology investor with a focus on companies operating at the intersection of technology and government. The firm invests in companies that provide critical products, software, and services, primarily technology and technology-enabled solutions, to government and commercial customers worldwide. Veritas seeks to create value by strategically transforming the companies in which it invests through organic and inorganic means.
Leveraging technology to make a positive impact across vitally important areas, such as healthcare, education, and national security, is core to Veritas. We are proud stewards of national assets, improving the quality of healthcare while reducing cost, advancing our educational system, and protecting our nation and allies.
About Coronis Health
Coronis is a leading provider of end-to-end RCM solutions to U.S. healthcare providers including primary and specialty physician practices, laboratories, and hospitals. By using industry-leading technology combined with high-touch relationship building, Coronis Health allows healthcare practitioners to focus on patient care.
About MiraMed Global Services
MiraMed is a leading provider of end-to-end RCM and Business Process Outsourcing services for anesthesia practices and commercial healthcare clients in the U.S. MiraMed partners with physician practices, hospitals, health networks, and related industry service organizations to provide a broad portfolio of solutions to streamline operations, improve productivity and ensure compliance.
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HEALTH TECHNOLOGY
Axonics, Inc. | August 18, 2022
Axonics, Inc. a global medical technology company that is developing and commercializing novel products for the treatment of bladder and bowel dysfunction, announced that in the last twelve months, the United States Patent and Trademark Office has granted eight patents and allowed four patent applications related to the company’s sacral neuromodulation technology.
The patents and allowed applications are part of Axonics’ patent portfolio and represents technology internally developed by the company covering a range of subject matter that includes the Axonics external trial system, tined lead, implantable neurostimulator, clinician programmer, wireless charging system and patient remote control.
“Axonics is committed to developing best-in-class technology to serve the unmet needs of the millions of adults suffering from incontinence. The volume, subject matter diversity, and breadth of these patents demonstrate the investment in innovation that Axonics continues to make in sacral neuromodulation technology,”
Raymond W. Cohen, chief executive officer
About Axonics
Based in Irvine, Calif., Axonics is a global medical technology company that is developing and commercializing novel products for adults with bladder and bowel dysfunction. Axonics recently ranked No. 1 on the 2021 Deloitte Technology Fast 500™ and the 2022 Financial Times ranking of the 500 fastest growing companies in the Americas.
Axonics sacral neuromodulation (SNM) systems provide adults suffering from overactive bladder and/or fecal incontinence with long-lived, easy to use, safe, clinically effective therapy. In addition, the company’s best-in-class urethral bulking hydrogel, Bulkamid®, provides safe and durable symptom relief to women with stress urinary incontinence (SUI). Overactive bladder affects an estimated 87 million adults in the U.S. and Europe, with an additional 40 million adults estimated to suffer from fecal incontinence. SUI affects an estimated 29 million women in the U.S. alone. Axonics’ clinically proven products are offered at hundreds of medical centers across the U.S. and abroad. Reimbursement coverage is well established in the U.S. and is a covered service in most European countries.
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