Issue link: https://beckershealthcare.uberflip.com/i/1275740
46 INNOVATION Where health systems are investing innovation dollars in 2020 By Laura Dyrda H ealth systems and their venture capi- tal arms have invested millions in dig- ital health technologies and startups in the first six months of the year. Here is where health systems are investing their innovation dollars so far in 2020, based on news releases and information gathered from CB Insights: 1. Renton, Wash.-based Providence Ven- tures joined Wilmington, Del.-based Christi- anaCare in an $18 million funding round for Twistle, a company that helps health systems automate personalized education and care communications with patients. e funding round closed in January. 2. UnityPoint Health Ventures was part of a series B funding round for Kaizen Health in January. e company has a perfor- mance-based network of transportation pro- viders to give patients rides to and from their healthcare appointments. 3. Kyruus closed a $42 million series D fi- nancing round at the end of 2019, which in- cluded Providence Ventures. e company, which focuses on provider search and sched- uling solutions for health systems, has raised more than $155 million since it was found- ed in 2010 and works with 50 of the top 300 health systems across the U.S. 4. Providence Ventures extended its invest- ment in Lyra Health in March. e company closed a $75 million series C funding round at the time and now has raised more than $150 million. Lyra Health is a technology platform that allows employers to offer workers access to personalized mental health. 5. Kaiser Permanente Ventures and Mayo Clinic Ventures invested $2 million in series B funding for Ordr, a company that secures enterprise in- ternet of things and unmanaged devices includ- ing building systems, medical equipment and printers running within global networks. 6. UPMC Enterprises was also part of a $3.26 million investment in ALung Technologies, a developer of advanced medical devices to treat respiratory failure, in February. 7. KPV was part of a $45 million series B invest- ment in IntelyCare in February 2020. e com- pany has intelligent workforce management soware for post-acute healthcare facilities. 8. UnityPoint Health Ventures was part of an $11 million series C funding round for VIDA Diagnostics in March; in April, OSF Ventures invested $2 million in VIDA Diagnostics, a company focused on making pulmonary care more data driven and personalized. 9. In March, UnityPoint Health Ventures and edaCare were part of a $16 million series A funding round for b.well, which has an integrated health platform to connect consumers with their healthcare providers and medical information. 10. UCHealth and Children's Hospital Colorado partnered to invest $3.6 million in ClinOne in March. ClinOne has a workflow management tool to manage every individual procedure. 11. OSF Ventures, UnityPoint Health Ven- tures and MemorialCare Innovation Fund were part of a $16 million series B funding round in SilverCloud Health, a digital men- tal and behavioral health platform. 12. UnityPoint Health Ventures and OSF Ventures were part of a series A funding round for CareSignal, a company focused on improving value-based care. e amount of funding raised was not disclosed. 13. Ascension Ventures, Children's Medical Center and OSF Ventures were part of a $25.7 million series C funding round for Pieces Technology, which has a solution to navigate patients through their care journey. 14. Ascension Ventures was part of a $51 million series E funding round in Olive, a company that provides a revenue cycle and patient payment experience platform. 15. Ascension Ventures was also part of a $5.8 million seed venture capital fund for Youtility, a turnkey social media solution for healthcare brands, and another seed fund for SteadyPay, a payment tool, earlier this year. 16. Stanford Health Care and MemorialCare Innovation Fund were part of an $18 million series B funding round in AristaMD, an elec- tronic consult platform to connect primary care and specialty physicians. 17. UPMC Enterprises was part of a $10 million investment in Infectious Disease Connect in May. Infectious Disease Connect uses telemed- icine to bring ID specialty services to hospitals. 18. Cedars-Sinai Medical Center was part of a $70 million investment in Visby Medical in April. Visby Medical is a healthcare technology company that develops diagnostic products. 19. Kaiser Permanente participated in a $102 million series C funding round for Cedar, which developed a patient engagement and payment platform, in June. 20. Q32 Bio, a biotechnology company, closed a $46 million series A funding round in May. e funding round included investment from Uni- versity of Colorado and the Children's Hospital Colorado Center for Innovation. 21. Northwell Health and University Hospitals were among the investors in a $12 million se- ries B funding round for Conversa, a virtual care and communication platform, in June. n Uber Health to provide medical transportation for Medicare Advantage members By Jackie Drees M edicare Advantage members may request rides for non-emergency medical visits thanks to a benefits program launched in partnership with Uber Health, according to a June 18 news release. Uber Health teamed up with payments technology company InComm and transportation management company American Logistics to launch the Trans- portation Benefits Program. Under the program, health plans can offer mem- bers with an OTC Network benefits card the option of using plan-provided benefits or dollars to pay for transportation to medical appointments, which Uber Health and American Logistics can fulfill. OTC Network is powered by InComm's healthcare payments platform, which allows consumers to use health plan-sponsored benefit and incentive dollars to buy items such as over-the-counter medications and health and wellness items at participating retailers. n