According to media reports citing sources, Swiss pharmaceutical giant Roche (RHHBY.US) is considering to spin off its medical data technology company Flatiron Health. It is reported that Roche is currently working with Citigroup (C.US) to evaluate options for Flatiron Health, including spinning off the business or selling part of the business to a partner that may help run the business.
Roche spent $1.9 billion to acquire Flatiron Health in 2018 to accelerate the development of its oncology drugs and support its pricing of drugs based on efficacy. Flatiron Health is an electronic health record software provider focused on oncology. The company collects clinical records, medical notes, genetic information, medical cost information, genomic data from multiple sources, and presents them to oncologists or helps doctors make better clinical diagnoses through integration. The company has also been supported by Alphabet (GOOGL.US).