Forian is a healthcare data and analytics company built around a large longitudinal database of de-identified U.S. patient records — the Chronos Data Lake — sourced from medical, hospital, and pharmacy claims, electronic health records, lab results, retail point-of-sale data, and consumer demographics, covering the majority of the U.S. population dating back to 2014. Forian's primary customers are pharmaceutical manufacturers, healthcare payers, providers, and life sciences firms that license this data to answer commercial and clinical questions: drug effectiveness, patient treatment pathways, market access analysis, and competitive market share across therapies. Forian also serves financial services clients — hedge funds and institutional investors — through its Kyber Data Science platform (acquired in October 2024), which uses the same claims infrastructure to generate healthcare investment intelligence, tracking drug utilization trends, patient flows, and therapy launch dynamics. Forian sells primarily through direct relationships, with a mix of multi-year subscription contracts (life sciences) and annual licenses (Kyber), plus project-based health economics and outcomes research (HEOR) work for pharma clients. The business model is data licensing: Forian acquires raw claims data from third-party suppliers, processes it through its internal data factory, and licenses analytics-ready products. Incremental margins are high once the data infrastructure is built, since adding customers carries low marginal cost. Growth priorities include expanding data supply, growing the HEOR project pipeline, integrating Kyber into the broader platform, and pursuing M&A, supported by roughly $35M in cash and marketable securities.