UnityPoint Health, a West Des Moines, IA-based hospitals, clinics, and home care services network, has divulged its USD100 Million venture fund, as the healthcare firm had announced at the inaugural MedCity INVEST Pop Health conference in New Orleans this week. As per the announcement, the UnityPoint Health Ventures Innovation Fund will manage and direct the health system’s financial and strategic investment opportunities in early-stage growth companies in four key sectors, including digital health, medical devices, therapeutic spaces, and healthcare services.
The purpose behind this fund is that UnityPoint Health Ventures will connect clinical and operational leaders all through the health system with industry entrepreneurs to assess and scale solutions that try to lower health care costs, advance the quality of care and optimistically impact population health initiatives. This effort will provide inventive startups benefits from access to the health system’s deep pool of resources and UnityPoint Health will get access to companies that can offer solutions to assist the organization drive sustainability, growth, and success in value-based care.
Managing Director of innovations at UnityPoint Health Ventures, Matthew Warrens said that “UnityPoint Health Ventures provides a platform for our clinical and operational leaders, who are some of the most knowledgeable and innovative individuals in the industry, to lend expertise to early-stage companies seeking to revolutionize care delivery and experience.”He further noted that “By establishing this fund, we can leverage our experience, institutional expertise, and solid investment track record to dramatically accelerate the growth for our portfolio companies and boost our own access to advanced health care solutions.”
As a network of hospitals, clinics, and home care services in Iowa, Illinois, and Wisconsin, UnityPoint Health Ventures is led by Kent Lehr, vice president of strategy and business development, and Matthew Warrens. The healthcare system is funded through a reallocation of funds already earmarked for investment and gains no funding from operations. UnityPoint Health represents 5 percent of the health system’s overall investment portfolio and plans to release more structured and targeted innovation investments.