Here are five hospitals and health systems that recently scaled innovation efforts across their organizations and venture capital funds.
1. Newark, Del.-based ChristianaCare inked a 10-year joint venture with Highmark Health in April to increase access and affordability to care for patients through technology. The organizations will create a Solution Design Center that focuses on developing healthcare tech and data tools for members.
2. In March, St. Louis-based Ascension’s healthcare venture arm, Ascension Ventures, launched a $285 million strategic venture capital fund. Backed by 13 health system partners, the new fund raised Ascension Ventures’ total assets to more than $1 billion.
3. UPMC Enterprises, the innovation and commercialization arm of Pittsburgh-based UPMC, incubated and launched a new digital healthcare quality company in February. The company, named Astrata, uses natural language processing and data analytics to improve value-based care.
4. In November, Tampa General Hospital created a venture capital fund, named TGH InnoVentures, to support early-stage startups and make direct investments into healthcare companies. The new fund comprises the TGH Innovation Lab, TGH Accelerator and Tampa General.
5. Miami-based Baptist Health South Florida launched a $100 million digital transformation project last August to expand its digital capabilities and online presence. The health system revamped its website, expanded its virtual care capabilities and rolled out a new scheduling and registration system.
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