LRVHealth formerly known as Long River Ventures has announced the launch of an early-stage venture platform for digital health, medical devices and diagnostics. In addition, LRVHealth has partnered with eight national healthcare systems and the Innovation Institute to raise a $100 million venture fund for its “Inside Healthcare” venture capital platform.
LRVHealth’s “Inside Healthcare” VC platform unites experienced healthcare operators and investors with leading providers, payers, vendors and proven industry executives. The LRVHealth partner ecosystem unites 148 hospitals and 1,882 non-acute care settings with more than 25,000 clinicians covering over 43 million Americans across 23 states. The VC platform plans to add ddditional healthcare systems, healthcare payers and healthcare vendors as strategic limited partners over the course of 2018. These investors and partners will gain access to early stage healthcare focused investment opportunities for their stakeholders – and more importantly, have an opportunity to build, guide and benefit from the latest innovations, helping them to remain competitive in today’s highly uncertain
The LRVHealth investment team is led by Will Cowen, Tripp Peake and Keith Figlioli, who recently joined LRVHealth after serving as senior vice president of healthcare informatics at Premier, Inc. for nearly a decade. Together, the team has more than 60 years of cumulative healthcare operating and investing experience. LRV IV is the firm’s fourth fund and builds on a 17-year track record of providing the first institutional investments in market leading companies such as GetWellNetwork, MedVentive, Phreesia, lifeIMAGE and Convergent Dental.
“The healthcare sector is traditionally known for being conservative or risk averse, but the rise of healthcare consumerism and the flood of related data is forcing us into a phase of disruption not seen in our lifetimes,” said Will Cowen, LRVHealth general partner in a statement. “Clinicians are rapidly and successfully embracing new care delivery models, administrators are adopting new perspectives on value and risk, CIOs are demanding system interoperability and data sharing, provider networks are revaluating the scope and scale of their operations and boards and CEOs across the sector are focusing on innovation as a top tier issue.”
