Flatiron Health raises $175 million for oncology work, will team with Roche
Flatiron Health has landed $175 million in its third round of funding, which it will invest in its OncologyCloud software platform.
Biotech firm Roche led the Series C fundraising, which included Allen & Company, Baillie Gifford and Casdin Capital.
Nat Turner, co-founder and CEO says Flatiron is now in a position to empower providers amid an evolving reimbursement landscape. The new funding will also help the company strengthen its core offerings.
“Our company was founded to fight cancer with technology, and we see ourselves supporting this fight as an independent company for many years to come,” Turner said.
OncologyCloud, which Flatiron launched in 2012, includes OncoAnalytics, an advanced analytics tool, and OncoEMR, an electronic health record for oncology, with an integrated patient portal and claims system, workflow optimization, infrastructure and design.
Also, Flatiron will add to its value-based care solutions portfolio, designed to enable providers to participate in initiatives such as the Oncology Care Model and other alternative payment models.
Additional enhancements and features are in the works for OncoAnalytics, OncoBilling practice management solution and SeeYourChart patient portal.
As part of the deal, Flatiron Health will enter into a multi-year, non-exclusive agreement with Roche, an oncology and in-vitro diagnostics company. Roche will purchase a number of Flatiron Health’s life science offerings and the companies will also work together to accelerate clinical trials, advance personalized medicine and enhance patient care.
Zach Weinberg, Flatiron Health’s co-founder, president and chief operating officer, said working with Roche will provide a unique opportunity to further advance clinical research and real-world evidence in a meaningful way.