CPA Networks (NYSE: ACN) is now in the health care industry.
With more than 10 million users, the network’s proprietary data analysis software can predict a patient’s health using a variety of data sets.
Advertex, the company that built Adverstex, says its algorithm can help predict a person’s blood pressure, cholesterol, blood sugar, and other parameters.
With so much data, the potential for a data broker to offer a price for the data could be enormous.
In 2017, the firm had $100 million in revenue, according to its website.
But now, the financial stakes are high.
In 2019, the group expects to generate revenue of $2.5 billion.
Adverstex is not alone in investing in health data analysis.
In May 2018, for example, a healthcare IT company, CMO of the company called Advertech, was acquired by the company Adversium.
The deal closed a $500 million round of financing for the company.
“We are very proud to be part of the Advertix family,” Adversio said in a statement at the time.
“CMO Adversa is committed to being the premier data broker in the industry, which will allow us to continue to bring the best products to our customers.”
In addition to health data, Adversica is building its own predictive analytics platform.
“Adversica and Advertex are now building a new proprietary predictive analytics product based on their data,” Advertox said in its statement at that time.
The company said it was building Adversext for $100,000.
In addition, Adverterys data analytics platform is already available on the market.
“As the first and foremost data provider for CMO Advertek, Adversex provides CMOs with the most comprehensive data for financial analysis and other applications,” the statement from Adversox said.
Adversetech has partnered with several health data brokers in recent years, including Medisource, Inc. and Health Data, Inc., according to a CPA Network review of its data.
The companies declined to comment on whether they were still offering the software.
As Adversota moves to more complex financial analysis, its ability to compete with other financial data brokers could become even more important.
But for now, it seems the health data analytics market is not only dominated by AdverTech, but also by two other companies: CSA Health, Inc, and Insure.
CSA said that it would be announcing a new data-driven financial product this month.
In its statement, CSA also said that Adverts software had helped it develop “better predictive analytics for financial planning and asset allocation.”
Insure also said it is partnering with AdverTex on a new financial product.
“In the health analytics space, there are some very good companies out there with the tools to build and deliver a comprehensive suite of data-analytics solutions,” Insure said in an emailed statement.
“Our clients are focused on creating products that enable them to build better and more predictive analytics, and we are excited to continue working with them.”