The deal brings together a global health services company and an Australian healthcare fund
Allens has helped bring together two healthcare sector-focused companies to form a new start-up.
Allens advised global health services company Cigna Corporation, which has teamed up with Australian healthcare fund nib Group to create what the leading law firm said was a “specialist healthcare, data, and related services company.”
Cigna and nib will each contribute $10m to fund the start-up, which will focus on delivering better health outcomes and risk management.
“The deal is unique because it is an example of an Australian health insurer working with a global health services company to innovate, utilise data, and improve health outcomes,” said partner Valeska Bloch, who headed the Allens team.
The firm’s deal team also included managing associate Phil O'Sullivan, associate Fletcher Stewart, lawyer Katherine Tsatsaklas, and senior overseas practitioner Mareli Vermeulen from the firm’s technology, media, and telecommunications group.
Ric Morgan, intellectual property and PTA special counsel, also advised on the deal.
“We're excited to be part of a project where data will underpin personalised health risk management, which is indicative of an emerging trend towards personalised, patient-centric healthcare,” O’Sullivan said.