PALO ALTO, CA--(Marketwired - Apr 27, 2016) - CloudMedx Inc, a big data health analytics company, announced today that it has acquired Gyrus Labs to extend the power of the CloudMedx Analytics Platform for improving patient care through data insights. Under the terms of the agreement, CloudMedx acquired the Gyrus Labs team, its IP and data rights and has already integrated its technology into the CloudMedx platform.
The biggest problem in healthcare is that more than half of the data that physicians input into emergency health records (EHRs) is not analyzed or mined for insights. A significant amount of patient charts hide information that can be useful and at times, crucial at the point of care. CloudMedx has built a natural language programming (NLP) engine that reads through this hidden data and helps solve this critical problem by marrying patient charts with other parameters to determine patient risks. Once these risks are highlighted and presented at the point of care, physicians can make informed decisions. This reduces physician time spent reading through the large trove of data within clinical notes, and helps reduce errors. It also helps healthcare organizations capture value-based payments that incentivize these health systems to improve patient care and reduce costs.
By acquiring Gyrus Lab's technology platform, CloudMedx is significantly enhancing its analytics platform's speed and performance at reading through structured and unstructured data coming of health systems. Gyrus Labs was founded in 2014 to bring together accurate medical knowledge representation, machine learning, and neuroscience theory to dramatically improve the contextual analysis of medical data. Dr. Dongyang Zhang, a cofounder of the company, previously was one of the early researchers on the core team that created IBM Watson for health. He was the original medical scientist who helped the team adapt Watson to healthcare. He has assumed the role of CloudMedx Senior Medical Scientist.
"Dr. Zhang and Gyrus Labs share our passion for bringing a comprehensive and adaptive analytics engine to all healthcare providers to improve patient care," said Tashfeen Suleman, Co-Founder and CEO of CloudMedx. "The addition of their breakthrough analytics engine and unmatched expertise in medical data science will further extend the value we are delivering to healthcare organizations nationwide."
The CloudMedx platform is designed specifically to absorb vast amounts of clinical and claims data in a wide variety of formats and languages. Most importantly, the company's proprietary technology delivers real-time visual insights and analytics around current population clinical risk, post-interventional outcomes and the costs associated with each clinical encounter. The platform processes both structured and unstructured data from healthcare workflows including medical labs, pharmacies and hospitals to capture all relevant clinical and financial information at the point of care. Using predictive risk analyses, CloudMedx helps physicians identify people who are at risk for costly, debilitating illnesses. Subsequent intervention and one-on-one support can help these patients reverse their risk or minimize their potential for serious complications. Already deployed by a number of leading healthcare providers, CloudMedx helps address a number of challenges including avoidable readmissions, capturing bonus payments and other value-based payment programs, improve patient satisfaction scores, and reduce inefficient care processes.
With the acquisition of Gyrus Labs' technology, CloudMedx will accelerate its deep clinical insights of medical data.
About CloudMedx
CloudMedx analytics platform empowers healthcare organizations to deliver improved patient care and outcomes through greater insights. CloudMedx combines the power of machine learning and big data analytics to generate real-time health insights for conditions that are responsible for as much as 90% of healthcare costs: congestive heart failure, stroke, hypertension, heart attack, chronic obstructive pulmonary disease, pneumonia and diabetes. Trusted by some of the best performing healthcare organizations in the country, CloudMedx is a technology company passionate about bringing a comprehensive and adaptive platform to healthcare. Founded in Dec 2014 and incubated by Y Combinator, CloudMedx is headquartered in downtown Palo Alto. The company has raised capital investment from prominent Silicon Valley investors including Lux Capital, Data Collective, AME Cloud Ventures, and Tencent. More information is available at www.cloudmedxhealth.com
Contact Information:
Kerry Metzdorf
978-463-2575