Georgia health system launches venture capital arm

Gainesville-based Northeast Georgia Health System has started a venture capital arm to support early-stage startups and invest alongside other healthcare venture funds.

Northeast Georgia Health Ventures launched Oct. 19 in partnership with Prinnovo, which helps smaller health systems create venture capital companies. The four-hospital chain will collaborate with startups to co-create, pilot and scale their solutions, which will then be considered by Northeast Georgia Health Ventures or their partners for investment.

"Our goal is to solve the problems our patients, caregivers and support staff face today by creating a real-world path to innovation — not making risky investments in unproven products," Carol Burrell, president and CEO of Northeast Georgia Health System, said in a system news release. "We chose to work with Prinnovo to help launch NGHV because of their unique approach, which embeds a team of ventures experts with our clinical and operational leaders to find innovative solutions that address our most strategic needs."

Healthcare entrepreneur Stuart Bracken will be the firm's venture principal.

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