Forian Acquires Kyber Data Science to Enhance Data Analytics Capabilities
Forian Inc. (Nasdaq: FORA) has acquired Kyber Data Science from TD Cowen, strengthening its position in healthcare information analytics. Kyber specializes in advanced healthcare data analytics and machine learning solutions for the financial services industry. The acquisition expands Forian's market reach into financial services and adds Kyber's proprietary algorithms and software designed for hedge funds, private equity, and mutual fund customers. The merger combines Forian's data resources with Kyber's analytics capabilities to enhance services for both healthcare and financial industry clients.
Forian Inc. (Nasdaq: FORA) ha acquisito Kyber Data Science da TD Cowen, rafforzando la sua posizione nell'analisi delle informazioni sanitarie. Kyber si specializza in analisi avanzate dei dati sanitari e soluzioni di machine learning per l'industria dei servizi finanziari. L'acquisizione espande la portata di mercato di Forian nei servizi finanziari e aggiunge gli algoritmi proprietari e il software di Kyber progettati per fondi hedge, private equity e clienti di fondi comuni di investimento. La fusione combina le risorse dati di Forian con le capacità analitiche di Kyber per migliorare i servizi sia per i clienti del settore sanitario che per quelli dell'industria finanziaria.
Forian Inc. (Nasdaq: FORA) ha adquirido Kyber Data Science de TD Cowen, fortaleciendo su posición en la analítica de información de salud. Kyber se especializa en analítica avanzada de datos de salud y soluciones de aprendizaje automático para la industria de servicios financieros. La adquisición amplía el alcance de mercado de Forian en los servicios financieros y añade los algoritmos y software propietarios de Kyber diseñados para fondos de cobertura, capital privado y clientes de fondos mutuos. La fusión combina los recursos de datos de Forian con las capacidades analíticas de Kyber para mejorar los servicios tanto para los clientes de la industria de salud como para los del sector financiero.
포리안 주식회사 (Nasdaq: FORA)는 TD Cowen으로부터 카이버 데이터 사이언스를 인수하여 의료 정보 분석 분야에서의 입지를 강화했습니다. 카이버는 금융 서비스 산업을 위한 고급 의료 데이터 분석 및 머신 러닝 솔루션을 전문으로 합니다. 이 인수는 포리안의 금융 서비스 분야 시장 범위를 확장하고 헷지 펀드, 사모펀드 및 뮤추얼 펀드 고객을 위해 설계된 카이버의 독점 알고리즘과 소프트웨어를 추가합니다. 이 합병은 포리안의 데이터 리소스와 카이버의 분석 능력을 결합하여 의료 및 금융 산업 고객을 위한 서비스를 향상합니다.
Forian Inc. (Nasdaq: FORA) a acquis Kyber Data Science auprès de TD Cowen, renforçant sa position dans l'analyse des informations sanitaires. Kyber se spécialise dans l'analyse avancée des données de santé et les solutions d'apprentissage automatique pour l'industrie des services financiers. L'acquisition étend la portée de marché de Forian dans les services financiers et ajoute les algorithmes et logiciels propriétaires de Kyber conçus pour les fonds spéculatifs, le capital-investissement et les clients de fonds communs de placement. La fusion combine les ressources de données de Forian avec les capacités analytiques de Kyber pour améliorer les services tant pour les clients du secteur de la santé que pour ceux de l'industrie financière.
Forian Inc. (Nasdaq: FORA) hat Kyber Data Science von TD Cowen übernommen und damit seine Position in der Gesundheitsinformationsanalyse gestärkt. Kyber ist auf fortgeschrittene Gesundheitsdatenanalytik und maschinelles Lernen für die Finanzdienstleistungsbranche spezialisiert. Die Übernahme erweitert Forians Marktanteil im Finanzsektor und fügt Kybers proprietäre Algorithmen und Software für Hedgefonds, Private Equity und Investmentfondskunden hinzu. Die Fusion kombiniert Forians Datenressourcen mit Kybers Analysefähigkeiten, um die Dienstleistungen sowohl für die Gesundheits- als auch für die Finanzdienstleistungsbranche zu verbessern.
- Strategic expansion into financial services sector
- Addition of proprietary algorithms and advanced analytics capabilities
- Access to new customer base (hedge funds, private equity, mutual funds)
- Enhancement of existing healthcare data analytics offerings
- None.
Insights
This strategic acquisition marks a significant expansion of Forian's data analytics capabilities and market reach. The integration of Kyber's specialized healthcare data analytics solutions for financial services represents a diversification of revenue streams and potential market expansion. The deal combines Forian's healthcare and life sciences data resources with Kyber's advanced analytics capabilities, creating synergistic opportunities.
The acquisition positions Forian to tap into the lucrative financial services sector, particularly hedge funds, private equity and mutual funds, which typically have higher margins and recurring revenue models. The combined entity will benefit from cross-selling opportunities and enhanced product offerings. While financial terms weren't disclosed, this acquisition could accelerate Forian's growth trajectory through expanded market access and improved analytical capabilities.
The healthcare analytics market is experiencing rapid growth, driven by increasing demand for data-driven investment decisions in healthcare. Kyber's specialized focus on financial services clients fills a important gap in Forian's portfolio, potentially creating a competitive advantage in this niche market segment. The acquisition aligns with industry trends toward consolidation of data analytics capabilities and the growing intersection of healthcare and financial technology.
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NEWTOWN, PA, Nov. 01, 2024 (GLOBE NEWSWIRE) -- Forian Inc. (Nasdaq: FORA), a provider of data science driven information and analytics solutions to the healthcare and life sciences industries, today announced it has acquired Kyber Data Science LLC (“Kyber”), a trusted provider of advanced healthcare data analytics and machine learning solutions to the financial services industry, from TD Cowen. This strategic acquisition strengthens Forian’s position in the healthcare information marketplace through the addition of advanced analytics and software capabilities and expands the industries Forian serves to include financial services.
Kyber has established a leading reputation for its innovative approach to real world healthcare data, leveraging cutting-edge analytics to help financial organizations make informed healthcare investment decisions. With its talented team of data scientists and engineers, Kyber has developed proprietary algorithms and software specifically designed for applications for hedge funds, private equity and mutual fund customers.
“I am excited to welcome Kyber to the Forian team,” said Max Wygod, Chief Executive Officer of Forian. “Kyber provides differentiated commercial intelligence that empowers its customers to better anticipate business performance in the healthcare market. I am encouraged that our combined vision and capabilities will accelerate our growth strategy and bring greater innovation to the market.”
“Joining Forian represents a significant opportunity for Kyber Data Science,” said Jeff Forringer, Chief Executive Officer of Kyber Data Science. “We are thankful for TD Cowen’s support and are excited for the opportunities that the Forian platform affords us to expand our reach and impact. 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.”
About Forian
Forian provides a unique suite of data management capabilities and proprietary information and analytics solutions to optimize and measure operational, clinical and financial performance for customers within the traditional and emerging life sciences and healthcare payer and provider segments. Forian has industry leading expertise in acquiring, integrating, normalizing and commercializing large scale healthcare data assets. Forian's information products overlay sophisticated data management and data science capabilities on top of a comprehensive clinical data lake to identify unique relationships, create distinctive information assets and generate proprietary insights. For more information, please visit Forian's website at www.forian.com.
About Kyber Data Science
Kyber Data Science is a forward-thinking company specializing in advanced healthcare data analytics and machine learning applications for the financial services community. With a focus on delivering data-driven insights, Kyber helps organizations harness the power of healthcare data to unlock complex points of care and payment analysis to drive growth and innovation in the capital markets.
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This release contains “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements often address expected future business and financial performance and financial condition, which may include GAAP and non-GAAP financial measures, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “target,” similar expressions and variations or negatives of these words. Forward-looking statements by their nature address matters that involve risks and uncertainties, many of which are beyond our control and are not guarantees of future results, such as statements about future financial and operating results, company strategy and intended product offerings and market positioning. These and other forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements. Accordingly, there are or will be important factors that could cause actual results to differ materially from those indicated in such statements and, therefore, you should not place undue reliance on any such statements and caution must be exercised in relying on forward-looking statements. Factors that could cause actual results to differ include, but are not limited to, those risks and uncertainties associated with operations, strategy and goals, our ability to execute on our strategy and the additional risks and uncertainties set forth more fully under the caption “Risk Factors” in Forian’s Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the SEC on March 29, 2024, and elsewhere in Forian’s filings and reports with the SEC. Forward-looking statements contained in this release are made as of the date hereof, and we undertake no duty to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable law.
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SOURCE: Forian Inc.
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