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.
Here are six moves from health system VC arms Becker's has covered since Sept. 13:
- UPMC Enterprises, the venture capital arm of University of Pittsburgh Medical Center, joined a series C funding round for Redesign Health. Redesign Health assembles, brands and launches healthcare startups.
- Kaiser Permanente Ventures, the venture capital arm of Oakland, Calif.-based Kaiser Permanente, joined a $75 million series C funding round for Kate Farms, which produces plant-based nutrition for tube or oral feeding.
- Spectrum Health Ventures, the venture capital arm of Grand Rapids, Mich.-based Spectrum Health, invested in tech-based cost-cycle company SpendMend. SpendMend uses data, analytics and other technologies to help healthcare companies save money.
- Mass General Brigham Ventures, the venture capital arm of Boston-based Mass General Brigham, was part of a $32 million seed funding round for Rippl, a tech-driven mental healthcare company focused on older adults.
- UPMC Enterprises, the venture capital arm of UPMC, partnered with data analytics company Clearsense. Clearsense will use the venture capital arm's unstructured data platform to analyze patient data.
- Northwell Holdings, the investment arm of New Hyde Park, N.Y.-based Northwell Health, invested $3 million in communication research lab and technology company Hume AI.