5 biggest innovation investments health systems made in 2021

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Health systems have been pouring investment dollars into digital health startups, research efforts and internal innovation projects throughout 2021, though they often do not disclose the amount. For those that did, below are the five largest innovation investments health systems made in 2021:

  1. Nationwide Children's Hospital and Ohio State University, both based in Columbus, joined a new $1 billion innovation district in Columbus focused on virus, pathogens, stem cell therapies and cancer research. Ohio State will invest $650 million, Nationwide Children's Hospital will invest $350 million and JobsOhio will invest $100 million in the project.

  2. Cleveland Clinic is launching a new infectious disease research center through a $500 million innovation collaboration with the city of Cleveland and JobsOhio. Cleveland Clinic will put up $300 million in funds while JobsOhio will invest $200 million.

  3. Ascension Ventures, the healthcare venture arm of St. Louis-based Ascension, closed a $285 million strategic venture capital fund, bringing the firm's total assets to more than $1 billion. The new fund is backed by 13 health system partners and is Ascension Ventures' fifth venture capital fund.

  4. Providence's digital health spinout DexCare closed a $20 million investment round backed by the Renton, Wash.-based health system's innovation arm and Kaiser Permanente Ventures.

  5. Rochester, Minn.-based Mayo Clinic led an $8.2 million funding round for TripleBlind, a digital privacy and data sharing platform.

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