What You Should Know:
– LifePoint Health launches 25m Health, a Nashville-based Healthtech Venture Studio with 25madison, as part of “LifePoint Forward” Innovation Strategy
LifePoint Health has announced a partnership with New York-based venture studio 25madison to launch a first-of-its-kind health tech startup incubator in Nashville. Seeded with a starting investment of $20M and dubbed 25m Health, the incubator will bring together the expertise, network, and access to a large health network needed to fast track, refine, and scale healthcare ideas and solutions. The partnership will be the primary driver for “LifePoint Forward,” the company’s formalized strategy to invest in and rapidly deploy solutions to meet their mission of Making Communities Healthier.
25m Health Overview
25m Health combines the business-building acumen of 25madison, a leading venture studio and innovation hub, with LifePoint’s healthcare expertise to develop businesses that solve challenges, eliminate barriers and enhance the delivery of high-quality care. The studio provides the necessary resources, network and capital to help support and facilitate the growth of young and promising healthcare businesses. 25m Health will be seeded initially with $20 million in funding from Lifepoint Health, 25madison, and Apollo Global Management, a leading global alternative asset management business.
Through 25m Health, entrepreneurs partner with experienced business builders who know what it takes to create thriving companies, and with healthcare leaders who deeply understand the challenges of the healthcare industry and the evolving needs of patients. Affiliated start-ups have a unique opportunity to rapidly deploy and scale tech-enabled solutions across a strong network of community hospitals and associated sites of care; drive operational improvements; and meaningfully improve health outcomes for patients.
“I am incredibly proud to establish LifePoint Forward as a key pillar of LifePoint’s growth and community healthcare investment strategy. We’ve built a robust infrastructure to develop and invest in new ideas, partnerships and technologies—all focused on meeting patient needs, driving growth and advancing our mission of Making Communities Healthier. Prior to today’s unveiling, we’ve had successes with LifePoint Forward, partnering with companies that are positively disrupting the healthcare ecosystem,” said David Dill, president and chief executive officer (CEO) of LifePoint Health. “When we met the 25madison team, it was clear that they had the experience, capabilities and shared vision to accelerate our work. Our 25m Health venture allows us to expand beyond investing in existing capabilities to also incubating and building businesses that can benefit LifePoint, our communities, and the broader healthcare delivery system.”
25m Health Advisory Council
An initial council of senior advisors has been assembled to help guide the strategic direction of 25m Health and is comprised of:
– Chris Altchek: Founder & CEO, Cadence
– Tara Bishop MD, MPH, FACP: Founder & General Partner, Black Opal Ventures
– John Chadwick: Partner, Claritas Capital
– Sahil Choudhry: Co-Founder, Stealth-mode Startup; Former Managing Director, Cigna Ventures
– Chris Sakalosky: Managing Director, Healthcare & Life Sciences, Google Cloud
– Dawn Whaley: President & Chief Marketing Officer, Sharecare
– Zach Zaro: Former CTO, Maven Clinic; Former CTO, quip
LifePoint Investment Portfolio
In addition to 25m Health, LifePoint has invested in the following digital health capabilities through LifePoint Forward:
– Eon, which has established a five-year agreement with LifePoint to develop the “Healthy Person Program.” The program pairs evidence-based follow-up with a first-of-its kind approach to identifying and tracking patients with incidentally discovered abnormal findings. It allows for earlier diagnosis and treatment of potentially catastrophic diseases.
– Cadence, a new healthtech company that has established a founding partnership with LifePoint and built a breakthrough remote care management platform that is delivering enhanced care to people managing chronic conditions at scale, aiming to support over 100,000 LifePoint patients.
– Loyal has established a five-year partnership with LifePoint in which the company is the first to deploy a new platform that provides every patient with individualized guidance to get connected with the best care, combining consumer insights with healthcare systems’ operational capabilities and workflows.