Medical data analytics company Truveta has secured $320 million in funding after selling stakes in the company to health systems and others as it works to create a massive genetic database.
Advocate Health in Charlotte, North Carolina, Chicago-based CommonSpirit Health, Detroit-based Henry Ford Health, New Hyde Park, New York-based Northwell Health, Renton, Washington-based Providence and Livonia, Michigan-based Trinity Health are among the investors, the company said Monday.
Financial details of each system's investment were not disclosed.
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Other investors include biotech company Regeneron Pharmaceuticals, which invested nearly $120 million and Illumina, a genetic sequencing company, invested $20 million towards Truveta's project, which seeks to create the world's largest genetic database.
The company said in a news release the latest investments will increase its value to more than $1 billion and build on its partnership with Microsoft, which is supplying its cloud computing program Azure to support its genome project.