Los Angeles Business Journal

Kuwait Fund Invests in NantHealth

By Deborah Crowe Tuesday, April 29, 2014

NantHealth, billionaire Patrick Soon-Shiong’s health care technology company, on Tuesday announced it is getting an investment of $100 million from Kuwait’s sovereign wealth fund.

NantHealth, a unit of Culver City based NantWorks, will use the money to accelerate rollout of its cloud-based clinical health information system that links patients, health care providers and medical researchers. The NantHealth platform so far has been installed at about 260 hospitals and connects more than 16,000 stationary and mobile medical devices.

"We believe that evidence-based, molecularly driven medicine will be the cornerstone of future health care delivery," Soon-Shiong said in a statement. “Partnering with KIA gives us the global scale to succeed in enhancing patient outcomes and better access to care through secure cloud-based, broadband networks.”

Soon-Shiong, No. 1 on the Business Journal’s list of Wealthiest Angeles with an estimated net worth of more than $8.9 billion, founded NantWorks as an umbrella company to commercialize a variety of health care, science and technology opportunities.

Though maintaining control over the bulk of his companies, Soon-Shiong has been accepting investments from strategic technology and financial partners that include BlackBerry and Blackstone.