The initiative will use both the monetary and human capital of the two partner organizations to support new products that will increase quality of care and patient satisfaction while reducing costs. Summation Health Ventures will focus on investing in startups and privately held early- to mid-stage companies with both an innovative product and a proven management team.
“The partnership offers a remarkable platform for entrepreneurs to gain the medical and technological insights which are critical for widespread adoption of products that positively impact healthcare,” said Brant Heise, Summation Health Ventures managing director, in a news release. “Highly respected health systems like MemorialCare and Cedars aligned in one strategic investment and innovation vehicle provide multiple opportunities, resources and locations for entrepreneurs to review and bring to market products and services that can positively impact healthcare consumers and organizations. We offer an ideal approach to accelerate innovation while delivering specific, tangible and strategic value.”
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