Cleveland Clinic Innovations spun off 2 companies, oversaw $23M in investments in 2021

Cleveland Clinic's Innovations department spun off two companies and oversaw $23.2 million in investments in 10 portfolio companies last year, according to health system financial statements.

During the first quarter of this year, the system also invested $10 million in the portfolio and has several pipeline investments under review, the statements show.

The department comprises startup investments, commercial innovation, licensing and med-tech partnerships that focus on digital health, medical devices and therapeutics and diagnostics. Cleveland Clinic Innovations has more than 80 spin-off companies overall and a portfolio of more than 1,200 patents issued.

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