Innovation

Healthcare-focused investment firm OrbiMed has raised over $4.3 billion in its three latest funds, The Wall Street Journal reported Oct. 24.

Although hospitals and health systems continue to face financial headwinds, the challenges and problems spawn new opportunities on where they can innovate, David Sylvan, Cleveland-based University Hospitals' new chief strategy and innovation officer, told Becker's.   

Tacoma, Wash.-based MultiCare Health System collaborated with Microsoft to organize the multitudes of health data from sources including fitness trackers and phones.

David Sylvan, University Hospitals' new chief strategy and innovation officer, said health systems cannot think about innovation in a vacuum. Rather, they must think about when and how innovation has the ability to solve their organization's most pressing needs.

Pair Team, a virtual care company that partners with health centers to treat Medicaid patients, raised $9 million in series A financing.

When Tampa (Fla.) General Hospital CIO Scott Arnold took on innovation duties Oct. 12, he joined a growing club of health system IT chiefs with the dual role.

Global investment firm KKR announced an agreement to buy a minority stake and invest in Catalio Capital Management, an investment firm focused on biomedical technology.

While hospitals collect massive amounts of data, 97% of it goes unused, according to Microsoft.

As the inaugural chief data and analytics officer of Atlanta-based Emory Healthcare, Joe Depa told Becker's that entering this uncharted territory "isn't merely a technological challenge — it's about evolving mindsets, processes and operations."

St. Louis-based Mercy said numerous uses for AI will be launched in 2024, The Oklahoman reported Oct. 17.