Oakland, Calif.-based healthcare giant Kaiser Permanente has sold its subsidiary healthcare data modeling company Archimedes for an undisclosed sum.
Archimedes was founded more than 20 years ago to provide Kaiser Permanente officials with quantitative information on predicted outcomes that could be expected from different clinical and administrative policies and programs. The Archimedes Model proved successful, and in 2007 the Robert Wood Johnson Foundation granted the company $1.6 million to help make the model accessible to other organizations.
Archimedes' new owners are Symphony Technology Group, a private equity firm and its wholly owned subsidiary, Evidera, an analytics and research firm.
"We are committed to continuing the mission of the original intent of Archimedes and its model of quantitative healthcare," said Jed Weissberg, MD, senior vice president of hospitals, quality and care delivery excellence at Kaiser Permanente, in a news release. "The buyer, Symphony/Evidera, is a great home to enable the scientists to further their pursuits to enable personalized care for the future of medicine."
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