Ascension subsidiary becomes lead investor in virtual care: 3 things to know
Ascension Ventures, a subsidiary of St. Louis-based Ascension, the nation's largest non-profit and Catholic health system, is one of the lead investors in recent financing for Zipnosis, a Minneapolis-based company that provides health systems with a white-labeled, fully integrated virtual care platform.
Here are three things to know about Ascension Ventures' investment.
1. Zipnosis has raised a $17 million Series A financing round led by Safeguard Scientifics with participation from Ascension Ventures; along with existing investors Fairview Health Services, Hyde Park Venture Partners, Arthur Ventures, Waterline Ventures and Omphalos Ventures.
2. Proceeds from the investment will be used to expand Zipnosis' sales and marketing efforts and to accelerate product development.
3. Scott Becker, publisher of Becker's Hospital Review, said of the investment, "The most interesting part of this story is the reflection or recognition of how active and successful an investor in healthcare Ascension is. Ascension became a constant investor early. Now many of the largest systems are also regular investors in privately held healthcare companies."
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