Prospection | September 06, 2022
Health analytics pioneer, Prospection has announced a unique global data access agreement with leading Japanese medical data company Medical Data Vision Co., Ltd. to accelerate healthcare analytics globally.
The agreement, covering the world's second largest pharmaceutical market, will provide global pharmaceutical companies and researchers access to comprehensive and longitudinal data covering more than 40 million people in Japan at more than 470 hospitals.
Combining predictive analytics and machine learning with real-world healthcare data, Prospection's agreement with MDV will provide pharmaceutical companies across the world with unique access to patient diagnostic and medication data from hospitals across Japan, unlocking potential to assess an unlimited number of treatment programs in the region.
The agreement also enables access to patient history and prefecture level data, allowing analysis of disease progression, disease outcomes and the mapping of disease courses to provide evidence on areas where development can address unmet needs. When distilled further, this creates an opportunity to assess patient data on a regional level to find geographical areas where patients or health centres require additional support for specific disease and conditions.
Prospection's access to Japan's most comprehensive medical data sets is a significant milestone for the company. Prospection currently provides real-time access to longitudinal patient data across 15 regions globally including Australia, New Zealand, Japan, South Korea, Taiwan, USA and the UK. The company's latest announcement with Medical Data Vision will build on this work, providing Prospection with access to one of Japan's largest healthcare databases.
"We are delighted to announce our latest agreement with Medical Data Vision. This partnership demonstrates a shared commitment to improving patient outcomes and marks a significant milestone in Prospection's mission to deliver real community benefits to patients across the globe.
"As one of the largest pharmaceutical markets in the world, Japan has incredibly rich datasets. Working with Medical Data Vision gives us the opportunity to access a dataset of approximately 40 million patients, creating a unique opportunity to use advanced analytic tools to accelerate precision medicine to enable the right patient to receive the right treatment at the right time in their journey.
"The outcomes of this partnership will play a key role in understanding the full cycle of patient health conditions and disease journeys in areas including immuno-oncology, immune disorders, cardiovascular and metabolic conditions allowing researchers and pharmaceutical companies globally to better understand the different patient characteristics, treatments and respective outcomes."
Eric Chung, CEO and Co-founder, Prospection
"We are very excited to be working with MDV in our latest data access agreement. Combining MDV's large and comprehensive dataset with Prospections global reach and extensive expertise working with datasets across the world will not only allow MNC pharmaceutical companies to work with patient data from Japan, but will also open a broader understanding of different health conditions across the world. This agreement brings us one step closer to enhancing precision medicine to find the 40% of patients that can be optimised."
Prospection is a pioneer in health data analytics technology. We are on a mission to make advancements to precision medicine through real world evidence, with an aim to put the right patient on the right treatment at the right time. Applying advanced ML algorithms to real-world data we unearth health journey and treatment insights by analysing longitudinal data for hundreds of millions of patients to see how drug treatments are used after the clinical trial. Delivering actionable real-world evidence that enables better outcomes for patients, across the world.
Prospection is guided by credentialled experts and innovative leaders within their respective fields. Globally, we work with over 15 large health data sets applying our expertise to examine health patterns. Working with government and researchers through to our core client base in the pharma/biopharmaceutical industry, we have delivered insights across more than 90 therapeutic indications. Including rare and complex diseases such as oncology, immuno-oncology, virology, metabolic conditions, respiratory and cardiovascular disease. Prospection is backed by investors including Ellerston, Horizons Ventures and Main Sequence, and commercially with CRO Novotech.
About Medical Data Vision (MDV)
MDV is an accumulation of anonymously processed data with secondary usage permission from medical institutions. The actual number of patients in the "hospital data" centered on the acute phase is 40.42 million. In addition, by holding data from the health insurance association, data on the recovery period and chronic period has been enhanced, and in addition to information by hospital/clinic, it has become possible to track information on transfer destinations. "Health insurance data" was 7.84 million people (same).
FUTURE OF HEALTHCARE,MEDICAL DEVICES
Capterra | November 30, 2022
The rising adoption of connected medical devices is accelerating cyberattacks, according to Capterra’s new Medical IoT Survey of healthcare IT professionals. The survey also reveals that 67% of healthcare cyberattacks impact patient data and nearly half impact patient care, an indication that rising security risks in the industry are leading to severe consequences in patient outcomes and privacy.
The medical internet of things is helping to make healthcare more convenient, efficient, and patient-centric. However, connected devices with IoT sensors often have unprotected security vulnerabilities that endanger healthcare facilities, and even patients. In fact, medical practices with more than 70% of their devices connected are 24% more likely to experience a cyberattack than practices with 50% or fewer connected devices.
“As a healthcare organization connects more medical devices to its network, its attack surface expands. Connected medical devices often go unmonitored for security vulnerabilities, and because they run on a wide array of software and hardware platforms, it’s difficult to monitor with a single tool. This means that many connected medical devices are left wide open to cyberattacks.”
Zach Capers, senior security analyst at Capterra
More than half of healthcare IT staff rate the cybersecurity threat level in the industry as high or extreme, yet many healthcare organizations are not taking the necessary steps to protect medical IoT devices. Alarmingly, 57% do not always change the default username and password for each new connected medical device that is put into use. Additionally, 82% run connected medical devices on old Windows systems.
If a security vulnerability is discovered, organizations should patch the device or update its firmware as soon as possible. Unfortunately, 68% of healthcare organizations don’t always update connected devices when a patch is available. However, vulnerabilities and associated patches aren’t always well publicized, which means healthcare IT staff must stay up-to-date on emerging threats to medical IoT devices.
Medical IoT security requires proactive and ongoing vigilance. Healthcare practices should conduct routine vulnerability assessments before connecting medical devices to their IT network. They should also keep an up-to-date and accurate inventory of all connected devices plus associated software and firmware, and use software to monitor these devices.
Read the full report on Capterra.com to learn more about best practices for healthcare organizations to strengthen security for their medical IoT devices.
Capterra is the leading software reviews and selection platform that connects businesses to the right technology. Compare software, read and leave reviews, and access objective insights that empower business growth.
FUTURE OF HEALTHCARE
Abbott | November 21, 2022
Abbott has been recognized by the Consumer Technology Association with three CES 2023 Innovation Awards for its life-changing technologies that are advancing the health tech industry and improving the lives of people worldwide. The CTA is the organization behind the Consumer Electronics Show the most influential technology event in the world.
Ahead of the CES 2023 event, three of Abbott's industry-leading tech advancements won CES 2023 Innovation Awards, all within the Digital Health award category
Aveir VR Leadless Pacemaker – The world's only leadless pacemaker with a unique mapping capability to assess correct positioning prior to placement and designed to be completely retrievable. The system was developed by Abbott to treat patients with slow heart rhythms and eliminates wires used to deliver therapy in traditional pacemakers.
Proclaim Plus SCS System – Abbott's latest advancement in neurostimulation therapy to treat chronic pain using low doses of targeted BurstDR™ stimulation that can be adjusted as a person's therapeutic needs evolve across up to six areas of the body, which is more pain sites in the body than ever before.
Alinity m Monkeypox PCR test1 – A first of its kind, Abbott received FDA Emergency Use Authorization of its PCR test for detecting the monkeypox virus.
The CES Innovation Awards program is an annual competition honoring outstanding design and engineering in consumer technology products. The program recognizes the year's most innovative products in a multitude of consumer technology product categories and distinguishes the highest-rated in each.
Last year, Abbott became the first-ever healthcare company to keynote CES, and the company has received nine CES Innovation Awards in the past two years.
Other Abbott products previously honored with CES Innovation Awards include FreeStyle Libre 32, the world's smallest, thinnest3 and most accurate4 14-day glucose sensor and a CES 2022 Best of Innovation Award winner; BinaxNOW™5, the #1 COVID-19 self test in the U.S.; and the UltreonTM 1.0 intravascular imaging and coronary physiology software platform, which helps guide and optimize stenting decisions, combining optical coherence tomography with artificial intelligence.
In addition to the CES 2023 awards, Abbott also was recently recognized with other top honors for its healthcare technology including its revolutionary FreeStyle Libre technology being named the best medical technology in the last 50 years by the Galien Foundation. The FreeStyle Libre portfolio has transformed the lives of approximately 4.5 million people6 living with diabetes globally.
Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines.
Paradigm Oral Health | September 23, 2022
Paradigm Oral Health a leading oral surgery and digital dentistry platform announced that BlackRock Long Term Private Capital has entered into a definitive agreement to acquire a majority interest in the company from shareholders including InTandem Capital Partners. LTPC will partner with Paradigm’s executive leadership team, led by founder and CEO Dr. David Rallis, to support the company’s continued expansion and strategic growth plans.
Founded in 2018, Paradigm has developed an industry-leading model designed to attract and retain best-in-class surgeons focused on delivering the highest quality of oral health care and dental implant surgery while fostering a medically-driven, patient-friendly culture of excellence. The company partners with leading oral surgery groups in markets across the United States, allowing them to maintain their unique brand identity while operating on the same platform. Paradigm’s proprietary practice management technology, Paragon, utilizes cutting-edge technology and data analytics to provide and store proprietary information and intelligence generated by the business, leading to enhanced performance as well as increased patient and provider satisfaction. Today, Paradigm and its team of over 100 surgeon partners provide patient care in 75 state-of-the-art facilities throughout the United States.
“We are pleased to invest in Paradigm, which has established itself as an industry defining platform for the development and delivery of next-generation oral health solutions. Through its focus on providing superior clinical care, advanced technology, and continued training and education to its surgeon partners, the company is well positioned for long-term growth. We look forward to partnering with Dr. David Rallis and the entire Paradigm team.”
Colm Lanigan, Head of BlackRock LTPC, Americas
David Rallis, DDS, MD, and CEO of Paradigm Oral Health, commented, “Paradigm is advancing oral surgical outcomes and patient experience through a culture that places the needs of the patient first. At Paradigm, we validate our clinical performance through a proprietary data ecosystem and use data to reinforce our culture of excellence and accountability. Through innovation, and the rapid adoption of technology, we continue to set the standard for dental implant surgery. Aligning our company with world-class partners, first InTandem Capital and now BlackRock LTPC, has allowed Paradigm to emerge as a leader. We are humbled by the opportunity to partner with BlackRock LTPC, and excited to work with Colm Lanigan and his team as we continue to advance Paradigm as the global leader in oral surgery.”
Elliot Cooperstone, Managing Partner of InTandem Capital Partners, Paradigm’s financial sponsor since 2019, commented, “InTandem Capital invests in healthcare companies that are local leaders with the ambition and potential to become a national powerhouse. Dr. David Rallis and the leadership team at Paradigm embraced our playbook for accelerated growth with amazing skill and dedication. Our deep trust in each other has allowed our partnership to flourish. My colleagues and I wish David and the Paradigm team the very best as they build on their well-deserved position as the country’s leading oral health company.”
Paradigm is BlackRock LTPC’s sixth investment to date and its fourth investment in North America.
Houlihan Lokey acted as financial advisor and Goodwin Procter acted as legal advisor to Paradigm. Simpson Thacher acted as legal advisor to Blackrock LTPC.
About Paradigm Oral Health
Paradigm Oral Health is the preeminent provider of oral surgery. Paradigm’s uniqueness comes from their ability to hire the most elite oral surgeons in the country and train them on their proprietary platform of excellence. Paradigm Oral Health continues to revolutionize and reinvent implant surgery through their ongoing technology and digital work-flow advancements. With a passion for excellence, Paradigm embraces every opportunity to meet the needs of their patients and referring dentists.
About BlackRock LTPC
BlackRock LTPC is an innovative private equity strategy focused on investing in high-quality businesses and value creation through active collaboration with management teams. The strategy's flexible duration and prudent approach to leverage preserve optionality for growth and help enable compounded capital appreciation. LTPC's team of 23 professionals are based in New York and London and invest across North America and Western Europe. LTPC is backed by BlackRock, Inc., which manages $320 billion in alternative investments and commitments on behalf of clients worldwide as of June 30, 2022.
About InTandem Capital Partners
InTandem Capital Partners is a private equity firm that invests in and helps accelerate the growth of select healthcare services companies. Its goal is to build excellent businesses of significant value working collaboratively with its management team partners. InTandem is comprised of former business executives and experienced investors, and is uniquely qualified to provide strategic, acquisition and operating expertise to help companies significantly increase their value over time. InTandem provides active support to the management of its portfolio companies directly and leverages its network of industry executives to augment its capabilities.