PEORIA, Illinois., January 10, 2022 / PRNewswire / – OSF Ventures has launched its third investment fund, the largest since launching this program in 2016. The $ 100 million the fund will be used to pursue a strategy that links investments to key priorities of improving patient care, results and greater operational efficiency. The third fund brings the total assets under management in the venture capital program to $ 250 million.
OSF Ventures is part of the innovation strategy of OSF HealthCare, a system of 15 hospitals in Illinois and Michigan. Investments are focused on digital solutions, technology services and medical technology, including medical devices, diagnostics and therapies.
OSF HealthCare’s corporate investment arm has made 26 direct investments to date, in addition to investing in three healthcare-focused venture capital funds. Among direct investments, the program has seen nine successful exits and today manages an active portfolio of 17 companies.
Stan lynall, vice president of Venture Investments, and his team of seven worked at an incredible pace, even during the pandemic. Since launching its first venture capital fund, the OSF Ventures team has looked at nearly 1,500 opportunities.
“Our actual practical use in driving the technology, or collaborating in some other way, is what we value in the process. This allows us to provide meaningful feedback that enables the companies in our portfolio to develop successful solutions that are truly valuable to our patient base, “said Lynall.” Scaling investments through partnerships and hands-on collaborations with budding tech companies around the world help us bring emerging healthcare solutions to OSF HealthCare clinics and hospitals, often before they are widely marketed and deployed. ”
Managing digital transformation in healthcare and integrating products and solutions into clinical operations requires the commitment of clinical leaders and managers. Lynall noted, “We are fortunate to have leaders who are very committed to innovation at OSF HealthCare.
An example of a very successful clinical integration involved a collaboration that led OSF HealthCare to pilot and then to fully implement SilverCloud, a behavioral health platform with online and app-based modules to help people with mild to moderate stress, anxiety and depression. OSF was one of the first to adopt and in three years the number of people benefiting from registration has grown to 7,000.
michelle congre, Chief Strategy Officer and CEO of OSF OnCall Digital Health, is a champion of innovation.
“Entrepreneurs appreciate the early adoption of their technology and we appreciate having access to the best cutting-edge solutions,” Conger said. “For example, we had a head start at the start of the pandemic because we had already looked at solutions and strategically planned the implementation of many of the new communication tools that we deployed, albeit at a rapid pace. accelerated. We were prepared because of our long-term innovation plan, including significant investments and collaborations through OSF Ventures. “
OSF HealthCare Focuses on Transforming Healthcare Through Innovation with Advances in Big Data, Internet of Medical Things, Health Equity, Social Determinants of Health, Genomics and Precision Medicine , as well as next-generation primary care and sweeping efficiency. Increasing investments in start-ups with a particular focus and providing mentoring and feedback to partners through OSF Ventures is a key part of the strategy to move these efforts forward.
OSF Health is an integrated healthcare system owned and operated by the Sisters of the Third Order of St. Francis, headquartered in Peoria, Illinois. OSF HealthCare employs nearly 24,000 mission partners in 150 sites, including 15 hospitals – ten acute care, five critical access – with 2,089 licensed beds and two nursing colleges everywhere Illinois and Michigan. The OSF HealthCare physician network employs more than 1,500 primary care, specialist and advanced practice providers. OSF HealthCare, through OSF Home Care Services, operates an extensive network of home and palliative care services. He also owns Pointcore, Inc., made up of healthcare-related companies and the OSF HealthCare Foundation, the philanthropic arm of the organization. More information at www.osfhealthcare.org/.
OSF Ventures specializes in business optimization, partnering financially and operationally with companies that improve patient outcomes and reduce costs to healthcare systems. OSF Ventures is a division of OSF HealthCare. More information on www.osfventures.org.
OSF Innovation, launched in 2016, is the global initiative for planning, structure, goals and services that OSF HealthCare uses to innovate for the improvement and transformation of healthcare. More information on www.osfinnovation.org.
CONTACT: Colleen reynolds | Media Relations Coordinator, OSF Health | (309) 825-7255
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SOURCE OSF Ventures