IBM buys two health care data startups
Crafting solutions for the medical industry is a lucrative and bustling corner of the tech marketplace. This week, it was announced that IBM acquired Explorys and Phytel, two health tech startups that stand to improve the company's health-focused data-analytics capabilities.
The acquisitions coincide with the announcement of a new wing of health care development at IBM, called the Watson Health unit. With Explorys and Phytel's focus on cloud technologies, they represent a growing segment of the tech market dedicated to providing data solutions for hospitals, pharmaceutical companies, insurance providers and other key players in the medical world.
Explorys began as an offshoot of the Cleveland Clinic in 2009, and focuses much of its attention on predictive analytics in the cloud, as well as business intelligence. Based in Dallas, Phytel conducts analytics for patient information and automates patient outreach for care facilities. The two companies share a dedication to cloud-based solutions, which are becoming increasingly popular for managing data in the health care industry.
"The acquisitions bolster IBM's efforts to apply advanced analytics and cognitive computing to help primary care providers, large hospital systems, and physician networks improve health care quality and effect healthier patient outcomes," IBM said in a statement, according to Venture Beat.
IBM did not disclose the terms of either acquisition, but the companies join a robust portfolio of properties the tech giant has acquired since its inception.
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