Oxford, UK; 21 November 2018: Sensyne Health plc (LSE: SENS), the British clinical AI technology company, and EY, the multinational professional services firm and one of the “Big Four” accounting firms, today announce a Strategic Advisory Services agreement. Under this agreement EY will provide ‘design and build’ specialist resources comprising strategy, analytics, cyber, valuation, risk and governance capabilities.
Sensyne Health is enabling healthcare providers and life sciences companies to collaborate ethically using the Company’s clinical AI technology to analyse anonymised patient medical data across multiple linked datasets to improve patient outcomes, reduce healthcare costs and accelerate medical research.
This agreement with EY enables Sensyne Health to create global capacity and build on its unique business model which has been welcomed by the UK Government and resulted in partnerships with three NHS Trusts to date. The agreement will also enable Sensyne to scale up its business further, including responding to any government-led initiatives involving patient medical datasets.
Sensyne Health is creating a framework for the ethical commercial use of patient medical data, modelled on its business approach of a double bottom line providing an attractive commercial return and making a positive health and social impact. This business approach also facilitates investment in effective medical data curation and analysis through equitable deal structures and valuation models.
Commenting on today’s announcement, Lord (Paul) Drayson, Chief Executive Officer of Sensyne Health plc, said:
“EY is recognised for their knowledge in the fast developing field of big data analytics and the associated valuation models needed to underpin equitable deal structures involving large datasets. We are delighted to be working together to create an ethical framework for the analysis of patient medical data for patient benefit.”
Pamela Spence, Partner and EY Global Health Sciences and Wellness Leader, said:
“I am delighted to be working with Sensyne Health. Unlocking the power within healthcare data to fuel innovation in medical research and patient care is at the heart of today’s healthcare. EY is committed to building a better working world by asking the right questions that lead to better answers; best for patients, best for business and ultimately best for society. This is a great example of bringing our purpose to life in the Health Sciences and Wellness sector.”
For more information please contact:
+44 (0) 330 058 1845
Lord (Paul) Drayson, Chief Executive Officer
Lorimer Headley, Chief Financial Officer
Julia Wilson, Director of Investor Relations
Ernst & Young
Vicky Conybeer, Head of External Communications, UK & IRE +44 (0)20 7951 0868
About Sensyne Health
Sensyne Health plc is a healthcare technology company that creates value from accelerating the discovery and development of new medicines and improving patient care through the analysis of real-world evidence from large databases of anonymised patient data in collaboration with NHS Trusts. These anonymised patient data are ethically sourced in that any analysis of anonymised patient data (and hence the Company’s access to it) must be pre-approved for each programme on a case-by-case basis by the relevant NHS Trusts. This is to ensure that the purpose of the anonymisation and the proposed analysis are subject to appropriate ethical oversight and information governance, including conformance with NHS principles, UK data protection law and applicable regulatory guidance. Sensyne Health is an early signatory to the Department of Health and Social Care’s ‘Initial Code of Conduct for data-driven health and care technology’.
Sensyne Health is listed on the AIM Market of the London Stock Exchange (SENS.L).
For more information, please visit: www.sensynehealth.com
About EY Health Sciences and Wellness
The rise of the empowered consumer, coupled with technology advancements and the emergence of digitally focused entrants, is changing every aspect of health and care delivery. To retain relevancy in today’s digitally focused, data-infused ecosystem, all participants in health care today must rethink their business practices, including capital strategy, partnering and the creation of patient-centric operating models.
The EY Health Sciences and Wellness architecture brings together a worldwide network of more than 20,000 professionals to build data-centric approaches to customer engagement and improved outcomes. We help our clients deliver on their strategic goals; design optimized operating models; and form the right partnerships so they may thrive today and succeed in the health systems of tomorrow. We work across the ecosystem to understand the implications of today’s trends, proactively finding solutions to business issues and to seize the upside of disruption in this transformative age.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst& Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
For more information about our organization, please visit ey.com.