Text analytics provider Temis has announced its acquisition of i3 Analytics, a medical data visualization specialist, for an undisclosed amount, in a move that buttresses Temis' position in the life sciences sector.
Medical Data + Doctors with iPads
While we don't know how much Temis paid out in this deal, we know doctor's love iPads. This tells us pretty much all we need to know about this deal. i3 Analytics specializes in what it calls biopharma, what most of us know as pharmaceutical research or biotechnology.
Advances in biotech and biopharma mean more data for doctors and drug companies to rummage through, something a company like i3 Analytics is more than happy to help them with. Specifically, its BioPharma Navigator (pictured above) helps them mine clinical trial data, news and research for pertinent information about the research or products they are most interested in.
Just one example of how large the healthcare market is getting in terms of IT is the emergence of cloud availability of data. Cloud computing in healthcare is projected to grow to US$ 5.4 billion by 2017. All that data needs crunching, and Temis obviously wants to expand on its life sciences focus via the i3 Analytics buy.
Additionally, Temis plans to integrate the BioPharma Navigator into its Luxid platform, and make the technology available to other industries.
Luxid and Life Science R+D
Luxid is Temis' natural language processing technology, and it helps customers mine information stored in text metadata. It has three components, and they are the Annotation Factory, the Skill Cartridge Library and Content Enrichment Studio.
These segments represent the machine extraction layer, name and location recognition engine and development tools, respectively. Temis uses this technology to focus on the life sciences, defense and security and media and publishing industries, and in life sciences, especially for research and development. Luxid is meant to help track market developments and manage scientific information.
Adding the BioPharma Navigator to its existing capabilities will allow Temis to create more vivid visualizations of that biotech data, and likely help it expand Luxid into its other market segments. Temis is based in Paris, and has been in operation for over a decade while i3 Analytics is based in Maryland, and was founded in 2011.