NantHealth

Last updated
NantHealth, Inc.
Type Public
Industry Healthcare
Founded2007;16 years ago (2007)
Founder Patrick Soon-Shiong
Key people
Patrick Soon-Shiong (CEO)
Paul Holt (CFO)
RevenueIncrease2.svg US$95.961 million (2019) [1]
Increase2.svg US$57.539 million (2019) [1]
Increase Negative.svg US$62.762 million (2019) [1]
Total assets Decrease2.svg US$266.487 million (2019) [1]
Total equity Decrease2.svg US$323.623 million (2019) [1]
Number of employees
340 (2021) [2]
Website www.nanthealth.com

NantHealth, Inc. is a provider of software solutions for the healthcare industry, including NaviNet for insurance companies and decision support systems targeted at healthcare. The publicly traded company is headquartered in Winterville, North Carolina.

The company was founded by Patrick Soon-Shiong.

    His investment portfolio NantWorks controlled 62% of the voting shares of NantHealth at the end of 2021. [2] Other notable early investors included Allscripts, [3] BlackBerry, [4] Kuwait Investment Authority, [5] Celgene, [6] and Verizon. [7]

    In September 2014, NantHealth was featured as the cover story in Forbes Magazine, which estimated NantHealth's market capitalization at $1.6 billion. [8] In December 2014, NantHealth was featured on 60 Minutes by Sanjay Gupta. [9] In August 2017, NantHealth signed a distribution agreement for GPS Cancer with Asia Genomics. [10]

    In January 2019, NantHealth received a delisting warning from Nasdaq "because the Company’s common stock failed to maintain a minimum closing bid price of $1.00 for 30 consecutive business days." [11] At the time, the market value of the company was approximately $57m. [12] The company made a 1-for-15 reverse stock split in December, 2022. [13]

    Related Research Articles

    <span class="mw-page-title-main">China Construction Bank</span> Strategic state-owned bank

    China Construction Bank Corporation (CCB) is one of the "big four" banks in China. In 2015, CCB was the 2nd largest bank in the world by market capitalization and 6th largest company in the world. The bank has approximately 13,629 domestic branches. In addition, it maintains overseas branches in London, Barcelona, Frankfurt, Luxembourg, Hong Kong, Johannesburg, New York City, Seoul, Singapore, Tokyo, Melbourne, Kuala Lumpur, Santiago de Chile, Brisbane, Sydney and Auckland. Its total assets reached CN¥ 8.7 trillion in 2009, and it is considered a systemically important bank by the Financial Stability Board. Its headquarters is in Xicheng District, Beijing.

    <span class="mw-page-title-main">Ping An Insurance</span> Chinese insurance company

    Ping An Insurance known also as Ping An of China, full name Ping An Insurance (Group) Company of China, Ltd. is a Chinese holding conglomerate whose subsidiaries provide insurance, banking, asset management, financial, healthcare services. The company was founded in 1988 and is headquartered in Shenzhen. "Ping An" literally means "safe and well".

    <span class="mw-page-title-main">Ecolab</span> American corporation

    Ecolab Inc. is an American corporation headquartered in Saint Paul, Minnesota. It develops and offers services, technology and systems that specialize in treatment, purification, cleaning and hygiene of water in a wide variety of applications. It helps organizations, both in private as well as public markets, treat their water for drinking use and for use in food, healthcare, hospitality-related safety and industry. Founded as Economics Laboratory in 1923 by Merritt J. Osborn, it was eventually renamed "Ecolab" in 1986.

    <span class="mw-page-title-main">Celgene</span> American biopharmaceutical company

    Celgene Corporation is a pharmaceutical company that makes cancer and immunology drugs. Its major product is Revlimid (lenalidomide), which is used in the treatment of multiple myeloma, and also in certain anemias. The company is incorporated in Delaware, headquartered in Summit, New Jersey, and a subsidiary of Bristol Myers Squibb (BMS).

    Jefferies Group LLC is an American multinational independent investment bank and financial services company that is headquartered in New York City. The firm provides clients with capital markets and financial advisory services, institutional brokerage, securities research, and asset management. This includes mergers and acquisitions, restructuring, and other financial advisory services. The Capital Markets segment also includes its securities trading and investment banking activities.

    <span class="mw-page-title-main">T. Rowe Price</span> American publicly owned investment firm

    T. Rowe Price Group, Inc. is an American publicly owned global investment management firm that offers funds, subadvisory services, separate account management, and retirement plans and services for individuals, institutions, and financial intermediaries. The firm has assets under management of more than $1.6 trillion and annual revenues of $6.2 billion as of 2020, placing it 447 on the Fortune 500 list of the largest U.S. companies. Headquartered at 100 East Pratt Street in Baltimore, Maryland, it has 5,000 employees in Baltimore and 16 international offices serving clients in 47 countries.

    <span class="mw-page-title-main">Evercore</span> American financial services company

    Evercore Inc., formerly known as Evercore Partners, is a global independent investment banking advisory firm founded in 1995 by Roger Altman, David Offensend, and Austin Beutner. The firm has advised on over $4.7 trillion of merger, acquisition, and restructuring transactions since its founding. Evercore is widely considered one of the most prestigious and elite investment banking advisory firms.

    Centene Corporation is a publicly traded managed care company based in St. Louis, Missouri, which is an intermediary for government-sponsored and privately insured healthcare programs. Centene ranked No. 25 on the 2023 Fortune 500.

    St. Vincent Medical Center (SVMC) is a hospital in the Westlake neighborhood of Los Angeles, California, United States. Started by the Daughters of Charity in 1856, the hospital closed on January 24, 2020, due to the bankruptcy of Verity Health System.

    <span class="mw-page-title-main">Patrick Soon-Shiong</span> Chinese-African American billionaire physician, CEO & philanthropist

    Patrick Soon-Shiong is a South African-American transplant surgeon, billionaire businessman, bioscientist, and media proprietor. He is the inventor of the drug Abraxane, which became known for its efficacy against lung, breast, and pancreatic cancer. Soon-Shiong is the founder of NantWorks, a network of healthcare, biotech, and artificial intelligence startups; an adjunct professor of surgery and executive director of the Wireless Health Institute at the University of California, Los Angeles; and a visiting professor at Imperial College London and Dartmouth College. Soon-Shiong has published more than 100 scientific papers and has more than 230 issued patents worldwide on advancements spanning numerous fields in technology and medicine.

    Gregory David Wasson is an American businessman. He is the co-founder and president of Wasson Enterprise, a family-based investment office, the executive chairman of Innventure, co-founder of CoolerScreens, and the former president and chief executive officer (CEO) of Walgreens Boots Alliance.

    David Abraham Blech is an American businessman, investor, and venture capitalist. He is one of the financial pioneers of the biotech industry and was once known as the "King of Biotech".

    <span class="mw-page-title-main">GlobeImmune</span>

    GlobeImmune, Inc. is a clinical-stage public biopharmaceutical company headquartered in Louisville, Colorado, that develops therapeutic vaccines to treat cancer and infectious diseases. As of August 2014, the company had no marketed products. GlobeImmune’s therapeutic vaccines are developed on the company’s Tarmogen immunotherapy platform. Tarmogens are made from genetically modified yeast that express one or more disease-associated antigens. Tarmogens activate T cells to specifically target and eliminate diseased cells with the same target antigen.

    <span class="mw-page-title-main">Galena Biopharma</span>

    Galena Biopharma was a publicly traded pharmaceutical company based in San Ramon, California. The company was founded in Worcester, Massachusetts. In 2011, it moved to Oregon, and in 2015 moved to San Ramon, California. Mark Schwartz was the company's president and chief executive officer. As of December 29, 2017, the company was acquired by Sellas Life Sciences Group Ltd. through a reverse merger transaction. Galena Biopharma was renamed to Sellas Life Sciences Group, Inc.

    <span class="mw-page-title-main">Castlight Health</span>

    Castlight Health is a San Francisco–based healthcare navigation company. It offers comparison tools showing price and quality metrics for tests and procedures offered by healthcare providers.

    <span class="mw-page-title-main">Acceleron Pharma</span> American healthcare company

    Acceleron Pharma, Inc. is an American clinical stage biopharmaceutical company based in Cambridge, Massachusetts with a broad focus on developing medicines that regulate the transforming growth factor beta (TGF-β) superfamily of proteins, which play fundamental roles in the growth and repair of cells and tissues such as red blood cells, muscle, bone, and blood vessels.

    <span class="mw-page-title-main">S.A.C. Capital Advisors</span> Group of hedge funds

    SAC Capital Advisors was a group of hedge funds founded by Steven A. Cohen in 1992. The firm employed approximately 800 people in 2010 across its offices located in Stamford, Connecticut and New York City, and various offices. It reportedly lost many of its traders in the wake of various investigations by the Securities and Exchange Commission (SEC). In 2010, the SEC opened an insider trading investigation of SAC and in 2013 several former employees were indicted by the U.S. Department of Justice. In November 2013, the firm itself pleaded guilty to insider trading charges and paid $1.2 billion in penalties. The firm shrank after returning the vast majority of its outside investor capital. Point72 Asset Management was established as a separate family office in 2014. SAC ceased to exist as a separate entity in 2016.

    Welltower Inc. is a real estate investment trust that invests in healthcare infrastructure. Based on its 2021 revenue, it ranked 630th on the 2021 Fortune 1000, and is a component of the S&P 500. As of early 2021, the firm had an enterprise value of $50 billion and is the world's largest healthcare real estate investment trust.

    <span class="mw-page-title-main">Cancer Breakthroughs 2020</span>

    Cancer Breakthroughs 2020, also known as Cancer Moonshot 2020 is a coalition with the goal of finding vaccine-based immunotherapies against cancer. By pooling the resources of multinational pharmaceutical, biotechnology companies, academic centers and oncologists, it intends to create access to over 60 novel and approved agents under exploration in the war against cancer and is expected to enable rapid testing of novel immunotherapy combination protocols. The initiative is being managed by a consortium of companies called The National Immunotherapy Coalition.

    NantOmics is a biotechnology company based in Culver City, California, which provides molecular diagnostic products for personalized cancer treatment. It is part of the NantWorks network, a corporation consisting of different startups in the medical and health industry.

    References

    1. 1 2 3 4 5 "NantHealth Annual Report (Form 10-K)". last10k.com. U.S. Securities and Exchange Commission. February 28, 2020.
    2. 1 2 "NantHealth Annual Report (Form 10-K) 2021". sec.gov. U.S. Securities and Exchange Commission. February 24, 2022.
    3. "NantHealth Investment deal paves way for IPO". Los Angeles Times . July 2015. Retrieved 1 July 2015.
    4. "BlackBerry Invests in NantHealth for Integrated End-To-End Healthcare Solutions" . Retrieved 5 February 2015.
    5. "Soon-Shiong's NantHealth Raises $250 Million From Kuwait Fund". October 2014. Retrieved 5 February 2015.
    6. "Celgene Makes Landmark Investment in NantHealth to Advance Groudbreaking Cancer Research for Patients" . Retrieved 5 February 2015.
    7. "Verizon invests in NantHealth to deliver mobile clinical data". 24 October 2012. Retrieved 5 February 2015.
    8. "Can Patrick Soon-Shiong, The World's Richest Doctor, Fix Health Care?". Forbes . Retrieved 5 February 2015.
    9. "Disrupting Cancer". CBS News . 7 December 2014. Archived from the original on October 30, 2020. Retrieved 5 February 2015.
    10. "NantHealth Signs Distribution Deal for GPS Cancer in Southeast Asia". GenomeWeb. Retrieved 2018-10-23.
    11. "8-K". www.sec.gov. Retrieved 2019-02-09.
    12. "NH : Summary for NantHealth, Inc. - Yahoo Finance". finance.yahoo.com. Retrieved 2019-02-09.
    13. "NantHealth Announces 1-for-15 Reverse Stock Split". finance.yahoo.com. Retrieved 2023-02-02.