Roivant's Datavant, Ciox Health To Merge In $7B Deal - Johnson & Johnson (NYSE:JNJ)

As Roivant Sciences looks to reacquire one of its spinouts, another one is merging with a rival at a massive valuation.
Datavant, Roivant’s real-world evidence, and health data play will merge with the electronic-health record management firm Ciox Health in a transaction that will value the combined company at $7 billion.
The merged company claims that it has $700 million in annual revenue.
To be named Datavant, the combined company will allow a secure exchange of data among its network, which includes more than 2,000 U.S. hospitals and 15,000 clinics, and data analytics companies and government agencies.
The companies said the deal is supported by their group of investors, led by New Mountain Capital, Labcorp, Cigna Ventures, Johnson & Johnson JNJ, and Roivant Sciences.
The new company will be led by Ciox Chief Executive Officer Pete McCabe, while Datavant CEO Travis May will take on the role of president and join the board of directors.
The deal is expected to close in the third quarter of 2021.
Last month, Roivant Sciences announced a SPAC deal with Montes Archimedes Acquisition Corp MAAC. The deal valued the company at an enterprise value of $5 billion.
Price Action: JNJ shares are up 1.20% at $165.35 on the last check Wednesday.