Innovation

BetterNight, a virtual sleep care company, raised $33 million in growth funding.

Xandar Kardian, a contactless heart monitoring company, received an investment from Portfolia.

Corewell Health Ventures invested in $390 million cost-cycle tech company SpendMend after it helped the health system cut costs, MiBiz reported.

CodaMetrix, a spinoff of Somerville, Mass.-based Mass General Brigham that uses artificial intelligence for health system revenue cycle management, raised $55 million in series A funding.

Fountain Valley, Calif.-based MemorialCare is one of the largest systems in the country and has made some notable investments through its venture arm, the MemorialCare Innovation Fund.

Financial giant Morgan Stanley revealed the five winners of its second annual Alliance for Children's Mental Health Innovation Awards; each winner will receive a $100,000 grant to help scale their company.

Edison, N.J.-based Hackensack Meridian Health is partnering with Neosoma, a medtech company that uses artificial intelligence to research and treat brain tumors.

Many health systems are dipping their toes into venture capital investments, and Ballad Health is no exception. The Johnson City, Tenn.-based health system maintains a sizable venture arm and has invested in a diverse array of healthcare companies.

Chicago-based CommonSpirit Health is one of the largest systems in the country and has made some notable investments.

Orlando (Fla.) Health has a venture capital arm that focuses on early-stage companies creating disruptive healthcare technologies that align with the health system's strategy.