How 10 hospitals are spending innovation investment dollars: Hackensack Meridian, Highmark Health & more

Here are 10 hospitals and health systems that have distributed innovation funds — to startups, internal projects and venture funds — in the last month, beginning with the most recent:

1. NYU Langone Health celebrated the grand opening of BioLabs@NYULangone, a New York City-based incubator for early-stage biotechnology and life sciences companies, into which the health system has poured millions of dollars.

2. Partners HealthCare in Boston launched a $100 million, five-year initiative to boost digital innovation in patient engagement and experience.

3. Laudio, an artificial intelligence-enabled platform to improve engagement between nurse managers and their teams, closed a $7.3 million Series A financing round with participation from MemorialCare Innovation Fund, the venture arm of Long Beach, Calif.-based MemorialCare Health System.

4. Oakland, Calif.-based Kaiser Permanente, Detroit-based Henry Ford Health System and Pittsburgh-based Highmark Health all contributed to Kaiser Permanente Ventures' fifth investment fund, which closed with a total of $141 million.

5. Hackensack Meridian Health's Bear's Den program, the Edison, N.J.-based health system's innovation incubator, made its third investment in an external company, directing funds toward Adaptive Phage Therapeuticals, a developer of precision treatments for multidrug-resistant superbugs.

6. More than a month after Socially Determined, a startup using data analytics to identify patients in need of social services, closed a $7.3 million funding round with participation from Peoria, Ill.-based OSF HealthCare's OSF Ventures, ProMedica in Toledo, Ohio, revealed it had contributed to the financing as well.

7. The healthcare-focused Innovation Maturation Fund created by Greenville, S.C.-based Prisma Health and Clemson (S.C.) University distributed its first round of three research grants, ranging in size from $20,000 to $35,000.

8. Not long after establishing the $3 million Molina Community Innovation Fund, Bothell-based Molina Healthcare of Washington announced the inaugural recipients of a total of $1 million in grant funding: 16 nonprofit organizations around the state focused on addressing social determinants of health and reducing barriers to healthcare access.

More articles on innovation:
HBR: Innovation requires more than a big research budget
Cincinnati Children's taps digital health platform to license physical therapy tech
Duke launches privately funded innovation company for drug discovery

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