Cigna says its fledgling venture fund has led a $23 million funding round for a Cambridge, Mass.-based data analytics provider seeking new insights into patient care.
GNS Healthcare says its technology platform, REFS, “bring[s] the promise of precision medicine within reach,” using machine learning to analyze vast data sets to determine which treatments are best for specific patients.
Cigna Ventures, a subsidiary of the Bloomfield-based health insurer, said on Tuesday that it was joined in the latest Series D funding round by current GNS investors Celgene and Amgen Ventures, Echo Health Ventures and Alexandria Venture Investments.
GNS said the funding will fuel its artificial intelligence technology aiming to more “precisely match therapeutics, procedures and care management interventions to individuals…”
Cigna hopes its bet will lead to a better ability to meet consumer demand for personalized care and more cost effective, high quality care.
“GNS aligns with our vision and together we can super-charge our advanced analytics capabilities and provide even deeper, more predictable insights that will further enhance customer access to the highest quality treatment and care, in the preferred and appropriate place, at the right time,” said Tom Richards, Cigna’s global lead of strategy and business development.
Prior to Tuesday’s announcement, GNS, founded in 2000, had raised $38 million from Celgene, Amgen, and other health insurers including Horizon Blue Cross of New Jersey and Heritage Provider Network.
Cigna launched its corporate venture fund in Sept. 2018, seeding it with $250 million to spur the development of innovative healthcare companies.
