University Hospitals Ventures: 8 things to know

Cleveland-based University Hospitals has a venture capital arm that works to bring new ideas and products to market through venture investment, technology transfer, adoption and pilots.

Here are eight things to know about University Hospitals Ventures:

1. It started five years ago.

2. It is led by David Sylvan, who serves as president.

3. It fosters innovative ideas from University Hospitals staff through its UH Caregiver program, supports outside healthcare startups, collaborates with industry partners on product development, and teams with other VC and health system investors on funding rounds.

4. In December, it invested alongside health system VC arms Inception Health (Milwaukee-based Froedtert Health) and Ballad Ventures (Johnson City, Tenn.-based Ballad Health) in TailorMed, a digital health startup that helps patients find financial assistance.

5. In February, it expanded its partnership and invested in surgical device startup Lazurite.

6. In September 2021, as part of its Healthcare Collaboration Fund with VC nonprofit JumpStart Inc., it participated in an $824,000 pre-seed funding round for Renalis, a digital startup focused on people with pelvic health disorders.

7. In July 2021, it joined a $10.4 million series A financing round for digital credentialing platform Axuall that also included Columbia, Md.-based MedStar Health and Intermountain Ventures, the VC arm of Salt Lake City-based Intermountain Healthcare.

8. In January 2021, it took part in a $20 million series B funding round for virtual care and triage platform Conversa Health, whose other investors include Northwell Holdings, the VC arm of New Hyde Park, N.Y.-based Northwell Health.

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