Truveta’s funding to date has come from its 17 health system owners, who in July invested $95 million as part of a Series A round to fund staff, cloud computing and other infrastructure to build the data platform. Health system executives who spoke with Modern Healthcare at the time said they hoped their investments would support research that would eventually fuel improvements at their own organizations.
That could include research into new therapies, quality, safety, equity and other aspects of care delivery.
Truveta officials have said the company will license the data platform for “ethical medical research,” and that data will not be used to target ads to patients or physicians.
“Healthcare providers and researchers need better data and faster answers to address the most challenging issues in patient care—not just for this pandemic, but for all health conditions,” said Terry Myerson, CEO of Truveta, in a news release Wednesday. Myerson previously worked as an executive at Microsoft, where he led the Windows operating system.
Truveta as part of the deal with Microsoft will also become a Microsoft Cloud for Healthcare partner, which means Truveta’s data platform will be integrated into Microsoft’s set of cloud services and products that it sells to healthcare organizations. That integration will help Truveta reach new customers, according to the news release.
Azure is Truveta’s exclusive cloud provider under the deal. Microsoft has no rights to the Truveta data, the companies said.