It’s all about extracting value from mountains of data, says the global health tech.
Global health tech Magentus has teamed up with Google Cloud to develop AI solutions for specialists wanting to maximise the value of their clinical data.
Magentus, formerly known as Citadel Health and part of the Citadel Group, was listed on the ASX before it was purchased by private equity firm Pacific Equity Partners for more than $500 million in 2020.
Magentus also recently fully integrated Genie Solutions, which it bought in 2021, into the company. Genie Solutions markets Genie, Australia’s leading practice management solution for medical specialists, and the new Gentu cloud-based solution.
Under the new agreement, Magentus says it is building a “centralised and secure foundation for customer data on Google Cloud”, which will make it easier for clinicians to access the information they need quickly.
Magentus will then help medical professionals leverage Google Cloud’s generative AI solutions and large-language models (LLMs) like Gemini and MedLM (a family of foundation models fine-tuned for the healthcare industry) to simplify how they extract insights from medical data – including clinical notes, observations, and other written records saved in multiple file formats.
“We know that greater access to the highest quality data benefits every aspect of healthcare, from patients and staff on the frontline to those driving life-saving research and developing new treatments,” said Mark McConnell, Magentus Group CEO.
“The healthcare industry faces chronic challenges in how operators derive value from clinical data, and doing so typically requires huge amounts of manual labour in an environment that’s long been struggling with skills shortages.
“Google Cloud’s generative AI capabilities, including large language models fine-tuned for healthcare industry use cases, allow us to bypass those resource shortages at scale.”
Magentus will also explore the use of Google Cloud’s Vertex AI for content generation, including virtual assistants to capture observations and draft communications like referral letters for clinicians to edit and approve.
“Medical professionals are under constant pressure to do more with less, and generative AI offers huge potential for doing so in both processing and creating information,” said Mr McConnell.
Magentus will also work with existing pathology, oncology, and radiology customers to help them integrate data with third-party systems via Google Cloud’s Apigee API management platform.
“The interoperability offered by Google Cloud, coupled with its commitment to the health industry’s stringent standards in cybersecurity, privacy and data protection, resonated strongly with Magentus’ vision for a truly end-to-end digital healthcare ecosystem with trust at its core,” said Stuart Behncken, Magentus Head of Data Management.