Roivant's data spinout merges with rival in $7B deal

As Roivant looks to reacquire one of its spinouts, another one is merging with a rival at a massive valuation.

Datavant, Roivant’s real-world evidence and health data play, announced that it is merging with the electronic-health record management firm Ciox Health in a transaction they say will value the combined company at $7 billion. The merged company claims that it has $700 million in annual revenue.