How 5 hospitals are spending innovation investment dollars: Cleveland Clinic, Northwell Health & more  

Jackie Drees - Print  | 

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

1. Ohio State University and Nationwide Children's Hospital, 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. Little Rock, Ark.-based Baptist Health and Mercy Fort Smith said Feb. 9 they will invest $1 million in a healthcare sciences innovation center for students in the Fort Smith, Ark., area.

3. Baltimore-based LifeBridge Health partnered with Healthworx, the innovation and investment arm of CareFirst BlueCross BlueShield, to launch a new incubator, dubbed 1501 Health, that will provide startup companies developing healthcare technologies and innovations with up to $100,000 in investment.

4. 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.

5. Automated virtual care and communication platform Conversa increased its series B financing round Jan. 19 to $20 million, up from $12 million last June, led by Northwell Health Ventures. Northwell co-led Conversa's series B financing round alongside Builders VC. University Hospitals' venture arm is also an investor.

More articles on digital transformation:
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5 tech 'game changers' in healthcare for 2021


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