Issue link: https://beckershealthcare.uberflip.com/i/1479669
58 INNOVATION 22 health systems with investment arms By Naomi Diaz H ealth systems across the U.S. are increasingly embracing venture capital as a way to test new technologies, a shi away from the traditional reliance on developing in-house intellectual property. e innovation funds or venture capital funds health system create help provide financial investment and resources to start-ups in their portfolio. e companies may generate additional revenue for the health system if they are successful. 22 health systems with investment arms: 1. Ascension (St. Louis): Ascension Ventures 2. Cleveland Clinic: Cleveland Clinic Ventures 3. Elmhurst Memorial Hospital (Warrenville, Ill.): Edward-Elmhurst Health Venture Capital 4. Henry Ford Health System (Detroit): Henry Ford Innovations 5. Intermountain Healthcare (Salt Lake City): Intermountain Ventures Fund 6. Indiana University Health (Indianapolis): CHV Capital 7. Jefferson Health (Philadelphia): Jefferson Innovation 8. Johns Hopkins (Baltimore): Johns Hopkins Technology Ventures 9. Kaiser Permanente (Oakland, Calif.): Kaiser Permanente Ventures 10. Ochsner Lafayette (La.) General Health: Healthcare Innovation Fund 11. Mayo Clinic (Rochester, Minn.): Mayo Clinic Ventures 12. MemorialCare (Long Beach, Calif.): MemorialCare Fund 13. NewYork-Presbyterian (New York City): NYP Ventures 14. Northwell Health (New York City): Northwell Holdings 15. Orlando Health: Orlando Health Ventures 16. OSF HealthCare (Peoria, Ill.): OSF Ventures 17. Partners HealthCare (Boston): Partners Innovation Fund 18. Providence (Renton, Wash.): Providence Ventures 19. Texas Medical Center (Houston): TMC Venture Fund 20. UnityPoint Health (West Des Moines, Iowa): UnityPoint Health Ventures 21. University Hospitals (Cleveland): UH Ventures 22. UPMC (Pittsburgh): UPMC Enterprises n Mayo and Mercy's collaboration aims to speed up algorithm development, validation By Naomi Diaz A 10-year agreement between Rochester, Minn.- based Mayo Clinic and Chesterfield, Mo.-based Mercy is looking to speed up the development and validation of cloud-based technology, artificial intelligence and machine learning, according to the American Hospital Association. The two health systems signed the agreement July 26 and are working together to use their volumes of deidentified data collected over the years to find diseases earlier and determine ideal treatment paths. The algorithms and machine learning models that come from the agreement will help indicate proven treatment paths based on years of patient outcomes, according to the Aug. 16 AHA report. According to the AHA, the evidence could eventually be made available to other health systems, helping them deliver more proactive and predictive care. n Houston Methodist launches health tech innovation center through partnership with Ion By Noah Schwartz Houston Methodist is partnering with Houston technology innovation space the Ion to build a space for medical technology innovation. The space in the Ion, called the Tech Hub, is expected to open up later this year. The 1,200-square-foot area will be used for networking and pitches focusing on innovation in health technology, according to the Aug. 11 Houston Methodist news release. "We are advancing the evolution of the hospital's role in health care through digital transformation," Michelle Stansbury, vice president of innovation and IT applications at Houston Methodist, said. "Having a footprint at the Ion will not only provide the Ion's network and Houston community with a window into what we are doing for patients, consumers and providers, but also gives the Ion community and rising innovators an opportunity to bring its own ingenuity and ideas to life with ours." n