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Flatiron Health was founded in 2012 after its founders witnessed firsthand how decentralized cancer research information had become. By bringing all of this information into a single repository, the New York City-based Flatiron Health hopes to make such information more readily available and accessible for research of breakthrough cancer treatments.
The Need for Change
Flatiron Health was founded in 2012 by Nat Turner and Zach Weinberg shortly after they sold their first company to Google. The need for Flatiron Health became apparent when Nat’s seven-year old cousin was diagnosed with a rare form of leukemia.
After witnessing firsthand how few hospitals, clinics, and universities were sharing their data with one another, Nat and Zach realized there was an important opportunity to bring all of this information under one single system in order to assist in the discovery of new and improved breakthrough cancer treatments.
Flatiron Health Goes Beyond Mere Treatment
And the need is vast. Beyond merely assisting with the development of new cancer treatments, Flatiron Health also assists with a full range of patient needs. Along with health data, Flatiron Health’s shared technology platform assists with visualizing patient populations, determining resource utilization, identifying treatment patterns, overseeing network management, and even allowing health care professionals to match patients with clinical trials among many other beneficial aspects. Coupled with this the company’s ability to streamline the insurance process and manage and make available electronic health records for academic medical centers and hospitals, and you can begin to see just some of the roles Flatiron Health is able to serve.
The Company is Constantly Improving
As an organizational tool for managing the total care of patients, Flatiron Health is unparalleled. According to Flatiron Health’s website, currently more than 2.1 million patient records have been entered into their system. Add to this the fact that all 15 of the top therapeutic companies work with Flatiron Health, and over 280 community oncology practices, and seven major academic research centers partner with Flatiron Health as well. The company also sees more than 2,500 clinician users on its OncoEMR service, as well as 55 community oncology practices using its OCM network.
Major Funding and an Enormous Acquisition
Investors have taken notice as well. As of this writing, Flatiron Health has already raised more than $313 million after three rounds of funding. Most recently, Flatiron Health closed a $175 million round of Series C funding in 2016 led by Roche, a Swiss-based company which focuses on bringing targeted cancer treatments to patients. Then, two years later in February of 2018, Roche acquired Flatiron for $1.9 billion.
Today, Flatiron Health and Roche are combining to pioneer a new way to both managing and treating cancer patients. Both companies look to improve the care of patients for many years to come.