Forian, a data science-driven information and analytics solutions provider for the healthcare and life sciences sectors, has announced the acquisition of Kyber Data Science.
The financial terms of the deal were not disclosed.
Established in 2018, Kyber Data Science is an advanced healthcare data analytics and machine learning solutions provider for the financial services sector. The firm was previously owned by TD Cowen.
Through the acquisition, Forian aims to bolster its position in the healthcare data marketplace by integrating Kyber Data Science’s advanced analytics and software capabilities.
Additionally, the deal is expected to mark Forian’s entry into the financial services industry.
Kyber Data Science leverages real-world healthcare data and advanced analytics to assist financial institutions with developing healthcare investment strategies.
The company’s team of data scientists and engineers has developed proprietary algorithms and software solutions tailored for clients such as hedge funds, private equity, and mutual fund clients.
Kyber Data Science CEO Jeff Forringer said: “Forian’s broad and rich data resources and expertise will improve the innovative solutions we provide to our financial industry clients and Kyber’s analytics capabilities will enable Forian to bring greater value to its core healthcare and life science customer base.”
Based in the US, Forian offers a suite of data management capabilities and proprietary data and analytics solutions.
Forian’s platform is designed to optimise and assess operational, clinical, and financial performance for clients in both traditional and emerging life sciences, as well as the healthcare payer and provider segments.
The company’s information products leverage advanced data management and data science techniques built upon a comprehensive clinical data lake.
Forian CEO Max Wygod said: “Kyber provides differentiated commercial intelligence that empowers its customers to better anticipate business performance in the healthcare market.”
