Ascension's innovation arm launches $285M venture fund 

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, according to a March 5 news release. 

The new fund is backed by 13 health system partners and is Ascension Ventures' fifth venture capital fund. Since launching in 2001, Ascension Ventures has invested in almost 80 software, services and medical device and diagnostic companies. 

"This is an important time to be a strategic healthcare investor," Ascension Ventures Senior Managing Director Matt Hermann said in a news release. "Several factors — the pace of health system transformation, technology advances enabling new care modalities and business models, an influx of seasoned entrepreneurs tackling root cause industry issues — have created a unique time when health system and entrepreneurial markets are aligned." 

Here are the 13 health system partners that backed the new fund: 

  • AdventHealth (Altamonte Springs, Fla.) 
  • Carle Foundation (Urbana, Ill.) 
  • CentraCare (St. Cloud, Minn.) 
  • Children’s Medical Center of Dallas
  • Intermountain Healthcare (Salt Lake City) 
  • Novant Health (Charlotte, N.C.) 
  • OhioHealth (Columbus) 
  • OSF HealthCare (Peoria, Ill.) 
  • Luminis Health (Annapolis, Md.) 
  • Sentara Healthcare (Norfolk, Va.) 
  • Texas Health Resources (Arlington) 
  • One undisclosed health system

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