UnityPoint Health, a West Des Moines, IA-based network of hospitals, clinics, and home care services in Iowa, Illinois, and Wisconsin has announced the launch of its $100M venture fund at the inaugural MedCity INVEST Pop Health conference in New Orleans this week. 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: digital health, medical devices, therapeutic spaces, and healthcare services.
UnityPoint Health Ventures will connect clinical and operational leaders throughout the health system with industry entrepreneurs to test and scale solutions that seek to lower health care costs, improve quality of care and positively impact population health initiatives. Inventive startup companies will benefit from access to the health system’s deep pool of resources and UnityPoint Health will gain access to companies that can provide solutions to help the organization drive sustainability, growth and success in value-based care.
“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,” said Matthew Warrens, managing director of innovations, UnityPoint Health Ventures. “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.”
UnityPoint Health Ventures is led by Kent Lehr, vice president of strategy and business development, and Warrens. “This fund will help maximize the impact and value of our Innovation Center which encourages employees to identify processes within the health system that could operate better or more efficiently. Some of our investments will go to companies with products that can help us address challenges submitted by our employees,” said Lehr. “Our strategic investments will seek to provide UnityPoint Health with collaborative solutions to make the patient experience easier and more personal.”
UnityPoint Health Ventures is funded through a reallocation of funds already earmarked for investment and receives no funding from operations. It represents 5% of the health system’s overall investment portfolio and will introduce a more structured and targeted focus for its innovation investments.