After more than 40 years of focusing primarily on software for large businesses, SAP is taking a bold step in a new direction: precision medicine.

Targeting healthcare organizations, life sciences companies and research institutions, the German software giant on Tuesday rolled out SAP Foundation for Health, a brand-new platform based on its Hana in-memory engine that's aimed at helping such organizations uncover insights from patient data in real time.

"Our strategy is very simple but very ambitious," said Dinesh Vandayar, vice president of personalized medicine for SAP. "Our vision is to create a health network enabling personalized medicine."

SAP also unveiled SAP Medical Research Insights, the first accompanying application, with a focus on clinical researchers and life sciences companies.