DST announces strategic alliance with Frost Data Capital to drive accelerated data innovation
DST, a leading global technology, strategic advisory, and operations outsourcing company and Frost Data Capital (“Frost”), a combined incubator and venture capital firm, today announced a strategic alliance to accelerate innovation and advance big data analysis for healthcare businesses.
Under this new alliance, DST and Frost will use their combined expertise, funding and resources to turn transformative ideas into startup companies focused on value-based care. DST and Frost are targeting the creation of two to four startup companies over the next twelve months.
“Bringing together the individual strengths of both companies represents an important opportunity dedicated to transforming new and meaningful ideas into health outcomes solutions for health plans and other payers,” said Marc Palmer, President of Argus Health Systems, a DST company.
Teri Mullaney, President of DST Health Solutions, added, “Our priority on health outcomes optimization requires delivering higher value insights from the pharmacy and medical data we manage for our clients every day. As a preeminent provider of pharmacy and healthcare solutions, we believe having a team whose sole focus is on improving the future of healthcare management will benefit our customers greatly.”
“Frost accelerates innovation and startup creation working closely with global organizations, allowing them to better adapt to fast-moving market trends and providing flexible, integrated and non-conflicted solutions the convergent future of healthcare requires,” said Tom Giles, General Partner Healthcare at Frost Data Capital. “Our alliance with DST further strengthens and validates our combined expertise in healthcare and IoT. We’re excited to be working with DST to extend their already significant presence in the healthcare market.”
The startup companies will be well equipped to handle evolving industry trends that influence decision-making, risk assessment, and consumer engagement required by companies using data analytics and insights. In addition, the deep experience of the senior leadership at both companies provides the startup companies with the foundation to develop opportunities to help solve the most complex challenges facing the healthcare industry as it evolves.