Ciox Health Acquisition, Valuation, Funding & Investors

Ciox Health was acquired by Datavant for $7B in June 2021.

Ciox Health acquisition price

$7B

Acquired by Datavant · Jun 2021

Cumulative funding Ciox Health raised

$30M

across 2 funding rounds

Key investors in Ciox Health

  • New Mountain Capital
  • KKR
  • Merck Global Health Innovation Fund
  • HarbourVest Partners
  • Neuberger Berman Capital Solutions

Ciox Health Overview

About Ciox Health

Ciox Health was an Alpharetta-headquartered provider of healthcare data release and retrieval services until its 2021 merger with Datavant. Prior to integration, it managed record management for over 2,000 hospitals and supported clinical research with electronic health information exchange. The combined Datavant entity now processes billions of de-identified records annually from U.S. providers.


Founded

1976

HQ

United StatesAlpharetta, GA

Status

Acquired

Customer focus

B2B

Revenue model

Services, Subscription

Valuation

$7B (acquired Jun 2021)

Ciox Health Acquisition

Ciox Health was acquired by Datavant for $7B on 9 June 2021.

Before the acquisition Ciox Health had raised $30M across 2 funding rounds.

Ciox Health acquisition details
AcquirerDateTypePrice
  • Datavant
9 Jun 2021Strategic M&A$7B

Ciox Health Funding History

Ciox Health has raised a total of $30M across 2 funding rounds.

Ciox Health's first fundraising round was a $30M undisclosed-stage round in July 2019. The most recent completed round was a undisclosed-stage round in September 2026.

Ciox Health funding rounds

Ciox Health funding rounds
DateStageInvestorsRaisedDeal Summary
Sep 2026Undisclosed stageKKR; New Mountain Capital; Neuberger Berman Capital Solutions-Neuberger Capital Solutions, along with Neuberger Private Markets and investment funds and accounts managed by KKR, agreed on September 15, 2026 to acquire a significant minority stake in Datavant, a healthcare data collaboration platform, in a transaction alongside New Mountain Capital, which will retain its control position in the company. The deal is structured as a minority investment rather than a change-of-control acquisition, with closing expected in the fourth quarter of 2026. The investment is intended to provide fresh capital while supporting Datavant’s continued expansion under New Mountain Capital’s control. Datavant operates a healthcare data collaboration platform and is positioned as a major U.S. health data network; the announcement identifies New Mountain as an investor since 2014 and indicates that the transaction adds Neuberger and KKR as new financial partners rather than replacing the existing sponsor. Datavant is a healthcare data collaboration company backed by New Mountain Capital since 2014, with the September 2026 transaction bringing in additional minority capital from Neuberger and KKR while preserving New Mountain’s control. The deal was announced in connection with Datavant’s platform business and was described as a significant minority stake investment, not a merger, buyout, or SPAC transaction.
Jul 2019Undisclosed stageMerck Global Health Innovation Fund (lead); New Mountain Capital (lead); HarbourVest Partners$30M-

Who has invested in Ciox Health?

5 investors have backed Ciox Health across its funding rounds, including New Mountain Capital, KKR, Merck Global Health Innovation Fund, HarbourVest Partners and Neuberger Berman Capital Solutions.

Lead investors include Merck Global Health Innovation Fund and New Mountain Capital.


Ciox Health Investors

Investors in Ciox Health by funding rounds participated
InvestorHQRoundsRoleFirst check
New Mountain CapitalUnited StatesNew York City, NY2LeadJul 2019
KKRUnited StatesNew York City, NY1ParticipantSep 2026
Merck Global Health Innovation FundUnited StatesWoodcliff Lake, NJ1LeadJul 2019

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Ciox Health

Ciox Health has acquired 2 companies to date.

Last acquisition by Ciox Health was on July 28th 2020. Ciox Health acquired Medal for undisclosed valuation.


Latest Acquisitions by Ciox Health

Medal
ArroHealth
Description
Medal is a San Francisco-headquartered platform that processes medical documents using AI to extract structured data for clinical review, referrals, billing, and audits. Launched in 2020, it integrates with EHR systems like Epic and Cerner, enabling secure sharing of translated records across 100 languages. The service handles imaging, labs, and notes from over 500 hospitals, accelerating coordination for telemedicine providers and insurers.
-
HQ CountryUnited StatesUnited States
HQ City
San Francisco, CA
-
Deal Date28 Jul 202018 Apr 2017
Valuationundisclosed$130M
EV/Revenue
EV/EBITDA

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Ciox Health Competitors

Ciox Health competitors include listed companies like M3 Inc. and Glaukos, and private ones like Commure, Doctolib, Benchling and Cityblock Health.

Public and private companies comparable to Ciox Health
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
CommureUnited StatesSan Francisco, CAPrivate$200M-$7B35.0x
DoctolibFranceParisPrivate$400M-$6.4B16.0x
M3 Inc.JapanJapanPublicly listed$2.3B$473M$7.7B3.0x
BenchlingUnited StatesSan Francisco, CAPrivate$210M-$6.1B29.0x
Cityblock HealthUnited StatesNew York City, NYPrivate--$5.7B-
GlaukosUnited StatesUnited StatesPublicly listed$507M($157M)$9.5B14.6x

Ciox Health Public Comps

Ciox Health is no longer listed, but its public comps include M3 Inc., Waystar, Doximity, Glaukos, CCC Intelligent Solutions, Privia Health, Tieto, Schrödinger, Qingdao Baheal Medical and United Imaging.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
M3 Inc.$2.3B$473M3.1x3.0x14.8x11.6x
Waystar$1.1B$390M5.8x5.2x16.3x12.3x
Doximity$645M$229M6.3x6.2x17.7x11.9x
Glaukos$507M($157M)18.4x14.6x(59.6x)166.3x
CCC Intelligent Solutions$1.1B$238M4.8x4.5x21.5x10.8x
Privia Health$2.1B$44M1.0x0.9x50.2x15.3x
Tieto$2.1B$186M1.3x1.4x15.2x7.9x
Schrödinger$256M($96M)7.6x7.9x(20.3x)(14.0x)

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Common questions about Ciox Health

When was Ciox Health founded?Ciox Health was founded in 1976.
Where is Ciox Health headquartered?Ciox Health is headquartered in Alpharetta, GA, United States.
Is Ciox Health publicly listed?No, Ciox Health was acquired by Datavant in June 2021.
Who acquired Ciox Health?Ciox Health was acquired by Datavant in June 2021.
How much was Ciox Health acquired for?Ciox Health was acquired for $7B in June 2021.
How much funding has Ciox Health raised?Ciox Health has raised $30M across 2 funding rounds.
What was Ciox Health's last funding round?Ciox Health's last funding round was a undisclosed-stage round in September 2026.
Who are Ciox Health's investors?Ciox Health's investors include New Mountain Capital, KKR, Merck Global Health Innovation Fund, Neuberger Berman Capital Solutions and HarbourVest Partners.
Which companies are comparable to Ciox Health?Companies comparable to Ciox Health include Commure, Doctolib, M3 Inc., Benchling, Cityblock Health and Glaukos.
How many companies has Ciox Health acquired?Ciox Health has acquired 2 companies, including Medal and ArroHealth.
What was the largest acquisition by Ciox Health?The $130M acquisition of ArroHealth in April 2017 is the largest acquisition Ciox Health has made to date.

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