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Datavant and Ciox Health announce merger, creating the largest neutral and secure health data ecosystem

Press releases may be edited for formatting or style | June 09, 2021 Business Affairs Health IT

Upon closing, the new company will be led by current Ciox Chief Executive Officer Pete McCabe as CEO, and current Datavant CEO Travis May will assume the role of President and join the Board of Directors.

The merger is subject to regulatory approvals and is expected to close in the third quarter of 2021. Deutsche Bank, Goldman Sachs and Triple Tree served as the financial advisors to New Mountain and Ciox. Ropes & Gray LLP served as legal advisor to New Mountain and Ciox; Goodwin Procter LLP served as legal advisor to Datavant. Sidley Austin LLP served as legal advisor to Sixth Street and Goldman Sachs.

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About Datavant
Datavant’s mission is to connect the world’s health data to improve patient outcomes. Datavant works to reduce the friction of data sharing across the healthcare industry by building technology that protects the privacy of patients while supporting the linkage of de-identified patient records across datasets. Datavant is headquartered in San Francisco.

About Ciox Health
The Ciox platform leverages the industry’s most extensive clinical data network to connect data, improve patient outcomes, and lower healthcare costs. Ciox simply and securely connects healthcare decision makers with the data and hidden insights in patient medical records. Through its solutions for data acquisition, release of information, clinical coding and data abstraction, Ciox helps customers securely and consistently solve last mile challenges in clinical interoperability to support a range of needs, from research to revenue cycle.

About New Mountain Capital
New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, credit, net lease real estate and public equity funds with over $30 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies.

About Sixth Street
Sixth Street is a global investment firm with over $50 billion in assets under management and committed capital. Sixth Street uses its long-term flexible capital, cross-platform team, and data-enabled capabilities to pursue thematic opportunities and provide solutions for companies across all stages of growth. Select current and past representative Healthcare and Life Sciences investments include Biohaven, Caris Life Sciences, Clovis, DrFirst, Immunogen, Ironwood, MDLIVE and Nektar. Founded in 2009, Sixth Street has more than 320 team members including over 145 investment professionals operating from nine locations around the world.

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