Oncology Analytics, a data analytics and technology-enabled services company dedicated to helping health plans, providers, and patients with solutions that are purpose-built for oncology, recently announced it had closed a Series C funding round of $28 million. The round was led by Baird Capital, which joins existing investors McKesson Ventures, Oak HC/FT, and The Blue Venture Fund. Baird Capital Partner Michael Liang has joined the company’s board of directors.
The funding will allow the company to expand its oncology-focused capabilities, accelerate real-world data and analytics solutions for health plans, and increase the market share of its technology-enabled utilization management solution.
“It is incredibly humbling to have such a talented and experienced group of healthcare investors support our efforts to transform the oncology benefits landscape,” said Oncology Analytics CEO Rick Dean. “We are delighted to welcome Michael and Baird Capital to the team, as I know this collaboration will accelerate our ability to bring value and innovation to our health plan customers.”
The oncology landscape has undergone tremendous changes over the past decade because of an unprecedented number of new anti-cancer treatments brought to market, which have increased both the complexity and the cost of care. By forging a deep connection between data science, analytics, and oncology expertise, Oncology Analytics provides health plans with extensive clinical insights to ensure that anti-cancer therapies are based on science and evidence-based protocols. Health plans can use this information to manage the total cost of cancer care while providing their members with treatment recommendations that put them in the position to achieve the best possible outcome.
“McKesson Ventures is very impressed with the success Oncology Analytics has had since our initial investment, specifically, their ability to expand market share and increase the scale and depth of their technology,” said McKesson Ventures Managing Director Dave Schulte.
Read the press release here.
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