Symphony Technology Group, Evidera purchase Kaiser Permanente subsidiary Archimedes
Symphony Technology Group or STG and Evidera said they had acquired Archimedes for an undisclosed amount. STG is a private equity firm focused on technology and services while Evidera provides evidence-based solutions for the healthcare industry. Based in San Francisco, Archimedes is a healthcare modeling company that is a wholly owned subsidiary of Kaiser Permanente.
Archimedes Co-Founder David Eddy, MD PhD, said the acquisition of the company by STG and Evidera serves to open a new chapter in the company's use of quantitative methods so that the quality of healthcare can be improved and its cost controlled. He added, "The work we have done over the last 20 years to build and validate our models will be beautifully complemented by Evidera's skills, experience, current products and services, and commercial strengths. The combination raises healthcare modeling and analytics to an entirely new level."
A sophisticated and well validated model to address health economic questions, issues on public health and policy as well as the challenges faced in the design of clinical trials is offered by Archimedes, a statement about the acquisition said. The company's IndiGO division facilitates the combination of real-world health data and simulation so that compelling and actionable evidence can be created in individual healthcare decision making.The purchase will also improve Evidera's premier simulation offerings, matching them with advanced software and data interface capabilities. The deal will also expand the health economic capabilities of Archimedes, expand it internationally and provide added data sources through Symphony Health Solutions.
Evidera intends to add more disease areas to the Archimedes Model. The result will be a more powerful tool that can forecast the impact of new medical treatments or healthcare delivery systems at only a fraction of the cost and time required for clinical studies, the statement said.
Evidera's plan to add additional disease areas to the Archimedes Model will result in an even more powerful tool to predict the impact of new medical treatments or healthcare delivery systems at a fraction of the cost and time of clinical studies.