Edison, N.J.-based Hackensack Meridian Health and the Newark-based New Jersey Innovation Institute are teaming up to open an incubator lab for problem-solving healthcare products and strategies, which the two organizations announced in March.
The Agile Strategies Lab is designed to create and launch healthcare devices, technology and services that provide a higher quality of care, lower costs and enhance the patient experience. The lab's ribbon was cut on Tuesday.
Ten companies have already pitched ideas to the lab's panel, which will chose four finalists to start the development process. Some ideas include a device to lower risk in common surgeries and a wearable monitor to track patients' vitals.
"As a member of NJII's Ideation Program for Healthcare, Hackensack Meridian Health intends to leverage the combined skills of entrepreneurs, major corporations, research scientists, students and NJIT faculty to solve our challenges with novel strategies and products," Robert C. Garrett, co-CEO of Hackensack Meridian Health, said in a press release. "This isn't theoretical, its happening."
The health system will devote $25 million to the lab, which will be located on the New Jersey Institute of Technology campus in Newark.
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