Pharmaceutical giant AstraZeneca announced on Monday the spin-off and launch of a new digital health company called Evinova. AstraZeneca says the new company will operate independently within the AstraZeneca ecosystem.

“The future of medicine development can be accelerated with digital solutions,” said AstraZeneca CEO Pascal Soriot. “We believe Evinova’s combination of scientific expertise and track record in developing AI-enabled digital technologies at scale, provides a real opportunity to fundamentally improve patient care, drive healthcare transformation, and reduce carbon emissions.”

Digital health refers to technologies and applications designed to enhance healthcare delivery, patient outcomes, and the overall efficiency of the healthcare system. These technologies include wearable devices, remote care and telemedicine, smartphone applications, and virtual or augmented reality.

AstraZeneca said the digital health market is projected to be worth $900 billion by 2032 and that progress is vital in reducing healthcare costs. Yet the time and expense required to conduct clinical trials causes nearly 80% of them to fail, the company claims, noting that the average time between when a clinical trial starts to final approval is over seven years.

“The initial focus of Evinova is on the design of clinical tr

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Author: Jason Nelson

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