HIMSS has announced the acquisition of Healthbox, a Chicago-based healthcare innovation consulting firm and venture capital investment manager. For HIMSS, the acquisition of Healthbox adds health innovation consulting and fund management to its broader portfolio.
Under terms of the agreement, Healthbox will continue to operate as a wholly-owned subsidiary of HIMSS. Financial details of the acquisition were not disclosed.
Healthbox has evolved from a healthcare accelerator to an innovation consulting firm and venture capital investment manager. In 2015, Healthbox partnered with Intermountain to establish a $35M innovation fund and launched the Foundry program, a proprietary evaluation and commercialization process that helps large healthcare organizations identify and advance internal innovation.
To date, Healthbox has evaluated nearly 3,000 early stage companies and engaged with over 160 startups in Studio and accelerator programs.
“Last fall, in our first meeting to discuss the ways in which Healthbox and HIMSS could partner, HIMSS President & CEO Hal Wolf shared his long-term vision for the organization. The work we do at Healthbox fit so seamlessly into the vision that, instead of partnership, we walked out of the meeting and began charting a path for an acquisition. As I dug deeper and began to better understand HIMSS, it became abundantly clear that if we wanted to truly achieve our mission at scale, standing on the HIMSS platform was, by far, the best path forward,” said Healthbox President Neil Patel in a statement.