EHR vendor Allscripts will collaborate with Dr. Patrick Soon-Shiong’s NantHealth precision medicine startup on a platform for cancer care.
Allscripts purchased a 10% equity stake in NantHealth for $200 million in cash. In turn, NantCapital, Soon-Shiong’s personal investment vehicle, made a $100 million investment in Allscripts through a private placement of the company’s common stock. The move comes as Soon-Shiong tells Modern Healthcare that NantHealth will part ways with Renton, Wash.-based Providence Health and Services, where Soon-Shiong has served as global director of cancer services and bioinformatics. He said the 27-hospital system has a strong delivery system but lacks an organizational understanding of bioinformatics and molecular medicine. NantHealth also announced last week that it plans to go public by year-end.