Houston digital health startup acquired by Illinois-based company
A Houston startup has exited to a clinical terminology management and data quality solutions company.
Melax Technologies Inc., an artificial intelligence and natural language processing technology company, has been acquired by Intelligent Medical Objects, which is headquartered in the Chicago area. It's the first acquisition for IMO, and the deal will allow for the company to expand its offerings to various segments in the health care market.
"Today marks an exciting moment for IMO as we complete our first acquisition,” says Ann Barnes, CEO at IMO, in a news release. “Combining Melax Tech’s analytics and NLP capabilities with IMO’s clinical terminology and data quality platform will enable healthcare organizations to have a more comprehensive solution for both clinical operation and research.
"The acquisition will also help extend our state-of-the-art capabilities to payer, pharmaceutical, and life science companies,” she continues.
Founded in 2017 and based out of the Texas Medical Center Innovation Factory, Melax Tech is used by over 650 organizations for clinical trials optimization and more.
“We are thrilled to join forces with IMO and combine our NLP expertise with their clinical terminology and knowledge management solutions,” says Andre Pontin, CEO of Melax Tech, in the release. “Together, we will be able to offer healthcare organizations a powerful suite of solutions that will enable them to improve patient outcomes and reduce costs.”
Melax Tech has entered into a handful of strategic partnerships over its six-year existence and raised $600,000 in grant funding from the National Institute of Health and National Institute of Allergy and Infectious Diseases.
The details of the acquisition transaction have not been disclosed.