- Tech and data-enabled high-performance healthcare network helps address urgent health system issues: remedying system backlogs for patient services, providing greater access to care and diagnostics, providing high-quality continuity of care, speeding time to specialist referrals, identifying optimal care pathways, while accelerating research that supports new health treatments and products
- With Palantir, MCI has world-leading cybersecurity, patient privacy controls, and multi-layered data protection and security capabilities
- Palantir software provides the productive backbone for MCI's enhanced clinical intelligence services with improved access to real-world insights, fueling opportunities for MCI to attract more commercial partnerships
TORONTO, Aug. 30, 2022 (GLOBE NEWSWIRE) -- MCI Onehealth Technologies Inc. ("MCI") (TSX: DRDR), a clinician-led healthcare technology company focused on increasing access to and quality of healthcare, and Palantir Technologies Inc., a leading builder of operating systems for the modern enterprise, are pleased to confirm a three-year commercial agreement to power MCI's clinical insights that can improve patient outcomes and help address urgent health system issues. Palantir's Foundry platform will power analytics for improved MCI patient care and research projects for MCI's international stakeholders in the health, pharma, therapeutic, and life sciences sectors. The partnership with Palantir supports and helps accelerate MCI's partnerships with other health innovators like MDClone.
"At MCI Onehealth we remain firmly committed to our mission to make healthcare more accessible, affordable, and ultimately safer. MCI has built a first-of-its-kind model in community healthcare that is right now demonstrating efficiencies and improving patient access in ways that has not been demonstrated before in Canadian healthcare. Our collaboration with Palantir is already producing insights that can benefit our patients and the health system," said Dr. Alexander Dobranowski, MD, Chief Executive Officer of MCI. "We're using data to screen patients - rapidly and proactively - for chronic and rare diseases, for clinical trials, and matching patients to see appropriate specialists within and outside the MCI network for appointments within four weeks. Our high-performance healthcare network is delivering our goal: more preventative medicine with continuity of care that creates a more satisfying patient journey. Doing this with Palantir, a global leader in data analytics, data protection, and information security, not only drives our mission forward, but also ensures that regard for our patients is always front-and-centre".
MCI's collaboration with Palantir will continue to accelerate MCI's data strategy in disease screening, novel referral optimization and other custom data and precision medicine initiatives. Health researchers can access MCI generated insights to better understand disease progression, enhance care delivery and develop new products and treatments that can improve patient outcomes - which can help reduce overall health system costs. This is possible by leveraging MCI's rigorous data governance controls and Palantir Foundry's embedded data protection capabilities, including granular access controls, end-to-end provenance, and audit, which ensures MCI can secure sensitive health data, while enabling access to only authorized users for approved purposes.
"For our health sector partners, Palantir powers data-driven decisions to improve patient outcomes. Palantir gives our clients the tools to build a trusted research environment. Innovatively harnessing the power of data like MCI is doing is the way to bring personalized, preventative health care to life," said Dennis Halfpenny, who leads Palantir's Canadian Commercial Healthcare sales.
It is well documented that the COVID-19 pandemic created a massive backlog of millions of health care services in the province, including treatments, surgeries, doctors' visits, diagnostic tests, missed screening opportunities, and increased wait times. In the absence of more providers and resources, greater clinical efficiency and data that is used well can flag gaps in care, target patients for services they're behind on, and provide patients with more options.
This partnership with Palantir allows MCI and other health stakeholders to surface insights that address these issues and can help improve care. The real-world patient health journeys that MCI's tech-enabled network is able to capture offer a comprehensive picture to researchers, who can benefit from a fuller perspective. Through Palantir, MCI and relevant health stakeholders can securely identify and offer new treatment and clinical trial opportunities. Whether through MCI's clinic network, international healthcare providers, or pharmaceutical, life sciences and biotech partners, these insights are helping to quickly translate healthcare data and research that can help improve health and quality of life for patients.
"MCI's high-performance healthcare network of patient-facing services allows it to build a much richer and deeper patient profile for each of our patients. With Palantir's software, MCI provides health system stakeholders with rapid access to a data integration and analysis ecosystem to support a variety of research, clinical and data science needs. The insights derived ultimately help make care preventative instead of reactive, personalized instead of generic. We are helping bring innovation to the front lines of healthcare faster while pioneering personalized, precision medicine technologies," said Dr. William Plaxton, Critical Care Medicine Specialist and MCI Onehealth Special Advisor, Data Strategy.
Currently, MCI provides data insights as a service in six categories: rare disease; complex major medical/chronic; patient cohort building; clinical trial recruitment; synthetic health data and bespoke insights. Such services are targeted at pharmaceutical companies, life science companies, precision medicine companies and top-tier university centres.
"We are firmly committed to drive excellence in healthcare in Canada and we are committed to delivering on our strategy and value for our shareholders," said Dobranowski. "From an investor perspective, not only are we achieving our core strategies of building the high-performance healthcare network of choice and growing our technology and data offering, but the revenue opportunities that this enables are solidifying, with clients engaging our data insights as a service portfolio."
MCI is a healthcare technology company focused on empowering patients and doctors with advanced technologies to increase access, improve quality, and reduce healthcare costs. As part of the healthcare community for over 30 years, MCI operates one of Canada's leading primary care networks with nearly 280 physicians and specialists, serves more than one million patients annually and had nearly 300,000 telehealth visits last year, including online visits viamciconnect.ca. MCI additionally offers an expanding suite of occupational health service offerings that support a growing list of nearly 600 corporate customers. Led by a proven management team of doctors and experienced executives, MCI remains focused on executing a strategy centered around acquiring technology and health services that complement the company's current roadmap. For more information, visit mcionehealth.com.
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Forward Looking Statements
Certain statements in this press release, constitute "forward-looking information" and "forward looking statements" (collectively, "forward looking statements") within the meaning of applicable Canadian securities laws and are based on assumptions, expectations, estimates and projections as of the date of this press release. Forward-looking statements in this press release include statements with respect to the anticipated technological and strategic benefits of MCI's partnership with Palantir and the capabilities of their joint platform, as well as MCI's future growth, strategic plan, performance, business prospects and opportunities. The words "plans", "expects", "projected", "estimated", "forecasts", "anticipated", "intended", "potential", "prospects", "strategy", "target", "growth", "expanding", "develop", "to accelerate", "to better understand", "to grow", "future", "later", "continues to", "fueling", "improving", "driving", "delivering", or variations of such words and phrases or statements that certain future conditions, actions, events or results "will", "may", "could", "would", "should", "might" or "can", or negative versions thereof, "occur", "continue" or "be achieved", and other similar expressions, identify forward-looking statements. Forward-looking statements are necessarily based upon management's perceptions of historical trends, current conditions and expected future developments, as well as a number of specific factors and assumptions that, while considered reasonable by MCI as of the date of such statements, are outside of MCI's control and are inherently subject to significant business, economic and competitive uncertainties and contingencies which could result in the forward-looking statements ultimately being entirely or partially incorrect or untrue. Forward looking statements contained in this press release are based on various assumptions, including, but not limited to, the following: MCI's ability to achieve its growth strategy; the demand for MCI's products and fluctuations in future revenues; the availability of future business ventures, commercial arrangements and acquisition targets or opportunities and MCI's ability to consummate them; the effects of competition in the industry; the requirement for increasingly innovative product solutions and service offerings; anticipated timelines to develop new products and services; new products and services functioning as expected; trends in customer growth; sufficiency of current working capital to support future operating and working capital requirements; the stability of general economic and market conditions; currency exchange rates and interest rates; equity and debt markets continuing to provide MCI with access to capital; MCI's ability to comply with applicable laws and regulations; MCI's continued compliance with third party intellectual property rights; the anticipated effects of the COVID-19 pandemic; and that the risk factors noted below, collectively, do not have a material impact on MCI's business, operations, revenues and/or results. By their nature, forward-looking statements are subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved.
Known and unknown risk factors, many of which are beyond the control of MCI, could cause the actual results of MCI to differ materially from the results, performance, achievements or developments expressed or implied by such forward-looking statements. Such risk factors include but are not limited to those factors which are discussed under the section entitled "Risk Factors" in MCI's annual information form dated March 31, 2022, each of which is available under MCI's SEDAR profile at www.sedar.com. The risk factors are not intended to represent a complete list of the factors that could affect MCI and the reader is cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. MCI disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law. All of the forward-looking statements contained in this press release are qualified by these cautionary statements.
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