Grand Rapids, Mich.-based Spectrum Health launched its own investment fund Jan. 17 and plans to invest $100 million over the next decade in healthcare and health technology-related firms, according to the Grand Rapids Business Journal.
The venture fund, Spectrum Health Ventures, will invest in established companies instead of startups to minimize risk, according to the report. Areas of possible investment include genomics, precision medicine, artificial intelligence, population health issues and digital and monitoring technology.
Officials said they have received more than 50 deal applications since launching the fund. Of the proposals received, officials plan to potentially pursue one of the ventures.