Hospital and health system venture capital arms help provide financial investment and resources to startups. These companies may generate additional revenue for the health system if they are successful.
Innovation
Genetic sequencing company Illumina has unveiled a new machine it says can sequence the human genome for just $200, Wired reported Sept. 29.
New Hyde Park, N.Y.-based Northwell Health has a venture capital arm that invests in innovative early-stage companies, develops and commercializes internal innovations, and brings new products and medical devices to market.
Northwell Holdings, the investment arm of New Hyde Park, N.Y.-based Northwell Health, has invested $3 million in communication research lab and technology company Hume AI.
Hershey, Pa.-based Penn State Health is partnering with Clew to implement artificial intelligence-powered virtual intensive care units.
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Digital mental health platform Grow Therapy has raised $75 million in a series B funding round.
Intermountain Delta (Utah) Community Hospital has rolled out GI Genius, an artificial intelligence tool used to detect cancer, according to Sept. 28 reporting in KUTV.
Pharmaceutical company Qnovia has raised $17 million in series A funding.
Seventeen companies have been awarded a combined $650 million IT contract from the Veterans Health Administration, according to Sept. 29 reporting in Govconwire.
Rochester, Minn.-based Mayo Clinic researchers are studying the use of artificial intelligence to evaluate electrocardiograms to screen for atrial fibrillation.