The platform will combine and analyze datasets
for live purchasing decision support of pharmaceuticals
DUBLIN,
Ohio and DENVER,
Jan. 26,
2023 /PRNewswire/ -- Cardinal Health (NYSE: CAH)
announced today that it has entered into a strategic collaboration
with Palantir Technologies Inc. (Palantir) (NYSE: PLTR), a leading
builder of operating systems for the modern enterprise, to design a
solution that will give health systems and hospitals dynamic
purchase decision insights in order to quickly improve their bottom
line.
The Cardinal Health solution, which will be integrated into
Foundry, Palantir's industry-leading operating system, will deploy
artificial intelligence (AI) and machine learning (ML) to bring
together diagnosis and clinical data with real-time customer
purchasing and consumption data for pharmaceutical products with
best-in-class data and privacy protections. Future iterations of
the tool are expected to help inform purchasing decisions for
therapeutic utilization, reimbursement insights and predictive drug
inventory needs – to help further improve the connection between
health system purchasing and supply chain support.
"We are taking a proactive role in pharmaceutical decision
support to provide support to our customers as they continue to
manage rising drug expenses, supply chain volatility and continued
drug shortages," said Peter J.
Siavelis, senior vice president and general manager of
Health System and Provider Distribution & Services at Cardinal
Health. "By utilizing Palantir's platform, we are working to
reshape the pharmaceutical supply chain with innovative processes,
products and solutions to improve access to critical medications
and streamline pharmacy inventory management."
As hospitals balance increases in drug expenses due to the
growth of specialty therapies and biosimilars, health systems are
struggling to right-size pharmacy inventory together with
constantly evolving payer formulary updates. Cardinal Health's
data-driven solution will mitigate some of these challenges by
analyzing real-time clinical and purchasing data to effectively
create a clinically-integrated supply chain for
pharmaceuticals.
"Our partnership with Cardinal Health further shows our
commitment to improve patient outcomes across the full healthcare
value chain and Palantir's ability to create resilience within the
complex challenges of supply chain uncertainty," said Palantir
chief operating officer Shyam
Sankar. "We're excited to work with Cardinal Health to
achieve their mission-critical objective of expanding access to the
medications patients need, by utilizing the software built to
handle the toughest problems."
A leader in the data and analytics industry, Palantir launched
its Health & Life Sciences division in 2020. Since then, the
company has continued to support federal, public and private
organizations and is a proven leader in delivering mission-critical
software across the public health supply chain.
About Cardinal Health
Cardinal Health is a distributor of pharmaceuticals, a global
manufacturer, and distributor of medical and laboratory
products, and a provider of performance, and data solutions
for healthcare facilities. With more than 50 years in business,
operations in more than 30 countries and approximately 46,500
employees globally, Cardinal Health is essential to care.
Information about Cardinal Health is available at
cardinalhealth.com.
About Palantir Technologies Inc.
Foundational
software of tomorrow. Delivered today. Additional information is
available at https://www.palantir.com.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
These statements may relate to, but are not limited to, Palantir's
expectations regarding the amount and the terms of the contract and
the expected benefits of our software platforms. Forward-looking
statements are inherently subject to risks and uncertainties, some
of which cannot be predicted or quantified. Forward-looking
statements are based on information available at the time those
statements are made and were based on current expectations as well
as the beliefs and assumptions of management as of that time with
respect to future events. These statements are subject to risks and
uncertainties, many of which involve factors or circumstances that
are beyond our control. These risks and uncertainties include our
ability to meet the unique needs of our customers; the failure of
our platforms to satisfy our customers or perform as desired; the
frequency or severity of any software and implementation errors;
our platforms' reliability; and our customer's ability to modify or
terminate the contract. Additional information regarding these and
other risks and uncertainties is included in the filings we make
with the Securities and Exchange Commission from time to time.
Except as required by law, we do not undertake any obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future developments, or otherwise.
Media Contacts
Tara Parsell,
tara.parsell@cardinalhealth.com
Lisa Gordon, media@palantir.com
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SOURCE Cardinal Health