Option Care Health Selects Palantir's Artificial Intelligence Platform for Enterprise-Wide Digital Transformation
DENVER and BANNOCKBURN, Ill., Jan. 08, 2024 (GLOBE NEWSWIRE) -- Palantir Technologies Inc. (NYSE:PLTR), a leading provider of AI systems, and Option Care Health Inc. ("Option Care Health") (NASDAQ:OPCH), the nation's largest independent national provider of home and alternate site infusion services, today announced a multi-year commercial partnership for Palantir's software to be leveraged across the company to help improve patient outcomes and increase efficiency.
Option Care Health expects to use Palantir's Artificial Intelligence Platform (AIP) across nurse scheduling, patient onboarding, purchasing optimization, and supply chain execution, among other potential use cases.
AIP enables organizations to bring the power of large-language models, and other cutting-edge AI, to their enterprise networks, private data, and core operations - with maximum security and trust. The platform is designed to bring in siloed and disconnected data sources, logic assets, and systems of action into a single common operating picture, enabling users to optimize their decision-making.
The company's use of Palantir's software is designed to help optimize visits per day and increase patient face time with clinicians, reduce administrative burden and help ensure stockage of drugs and medical supplies while helping prevent overstocking.
"We are excited to partner with one of the innovative leaders in AI-powered software and leverage their platform and expertise to enhance our intelligent technology ecosystem focused on streamlining processes, enhancing our expertise, improving the patient experience, and optimizing clinical outcomes," said John Rademacher, President & CEO of Option Care Health. "I believe that utilizing Palantir's Foundry and AIP will allow us to innovate rapidly, build on best practices and help ensure our approach to AI and Machine Learning incorporates the strongest foundations and provides strong protections and integrity for our stakeholders."
Palantir has long worked with some of the world's most important organizations and has recently significantly grown its health care operations. Palantir's software is also used across a number of government health organizations, including the National Institutes of Health and the U.K.‘s National Health Service.
"Option Care Health is at the leading edge of deploying artificial intelligence across the healthcare sector," said Alex Karp, co-founder and chief executive officer of Palantir Technologies. "We are proud to support this effort, which builds on our expanding presence in and commitment to the medical sector and will expedite and improve services to patients across the country."
About Option Care Health
Option Care Health is the nation's largest independent provider of home and alternate site infusion services. With over 7,500 team members including more than 4,500 clinicians, we work compassionately to elevate standards of care for patients with acute and chronic conditions in all 50 states. Through our clinical leadership, expertise and national scale, Option Care Health is reimagining the infusion care experience for patients, customers and team members. To learn more, please visit our website at OptionCareHealth.com.
About Palantir Technologies Inc.
Foundational software of tomorrow. Delivered today. Additional information is available at https://www.palantir.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, as applicable, Palantir's expectations regarding the amount and the terms of the contract and Option Care Health's expectations regarding the expected benefits of the Palantir software platforms and Option Care Health's expected use cases. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond the parties' control. These risks and uncertainties include Palantir's ability to meet the unique needs of Option Care Health and its customers; the failure of Palantir's platforms to satisfy Option Care Health or perform as desired; the frequency or severity of any software and implementation errors; the reliability of Palantir's platforms; Option Care Health's ability to implement the Palantir platforms in connection with its expected use cases; and Option Care Health's ability to modify or terminate the contract. Additional information regarding these and other risks and uncertainties is included in the respective filings Option Care Health and Palantir make with the Securities and Exchange Commission from time to time. Except as required by law, neither Option Care Health nor Palantir undertakes any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.
Contacts
Option Care Health
Mike Shapiro
[email protected]
Palantir
Lisa Gordon
[email protected]
