Healthcare data mapper Komodo Health has acquired Breakaway Partners, a market access software company targeting the life sciences industry, for an undisclosed sum.
According to the companies’ announcement, the deal allows Komodo to pair the real-time patient data collected through its artificial intelligence platform with Breakaway’s formulary, policy and payer coverage tracking technology—a combination the companies say will help healthcare and life sciences clients prioritize patient access to effective therapies.
“Gaps in access lead to gaps in care delivery,” Web Sun, president and co-founder of Komodo Health, said in a statement. “In a value-driven world, payers, providers and life sciences companies need faster, more complete insights to bridge the gap between new breakthroughs, the potential impact on patient outcomes and formulary decisions. With this acquisition, we will be delivering solutions that encompass a real-time, comprehensive view of the entire market access landscape.”
The companies did not disclose the terms of the acquisition deal, which closed today.
Breakaway was founded in 2015 and is based in Chappaqua, New York. The company’s software platform aims to cut down the legwork for life science companies as they research where their products fit within the payer landscape.
Breakaway will continue to operate as an independent entity until early 2022, when all 22 of the company’s employees will be integrated into the Komodo team, according to Christine Douglass, Komodo’s director of communications.
“Breakaway is a pioneer in using technology to provide market access teams real-time insights on policy decisions,” Arif Nathoo, M.D., CEO and co-founder of Komodo Health, said in a statement. “We couldn’t be more thrilled to add their solutions and expertise to further our mission of reducing the burden of disease.”
Komodo’s Healthcare Map platform tracks data from the healthcare encounters of more than 325 million de-identified patients. With this, it offers enterprise customers a range of products focused on, among other things, delivering timely interventions or alerts, gauging the performance of specific products and characterizing cohorts of real-world patients for developing novel therapeutics.
Bringing together each company’s strengths yields a patient access offering that outperforms legacy formulary aggregators and similar tools that are unable to incorporate live patient outcome data, Christian Pinsonault, managing partner at Breakaway Partners, said.
“Together, we are making it possible to track the impact of policy and formulary decisions on patient outcomes and—more importantly—to inform value-driven strategies that improve those outcomes,” he said in a statement. “It will now be possible to quickly understand and prioritize patient access based not only on the current landscape of existing policy restrictions but also on the real-world experience of individual patients.”
The acquisition makes good on the strategy Komodo outlined during its $220 million series E back in March, when it said the new funds would support investments into its enterprise tech platform, application suite and core data assets. That raise propelled the company to a $3.3 billion valuation, it said, and marked $314 million in funds raised over its seven-year life span.
The investor support was preceded by a pair of deals intended to flesh out the platform’s capabilities and access to patient data.
January, for instance, saw Komodo sign off on a multiyear deal to import Blue Health Intelligence’s real-world data into the Health Map platform, which extended its reach to the aforementioned 325 million lives. This came just weeks after the company acquired specialty biotech and pharma software developer Mavens.