Cleveland Clinic's Innovations department spun off two companies and oversaw $23.2 million in investments in 10 portfolio companies last year, according to health system financial statements.
During the first quarter of this year, the system also invested $10 million in the portfolio and has several pipeline investments under review, the statements show.
The department comprises startup investments, commercial innovation, licensing and med-tech partnerships that focus on digital health, medical devices and therapeutics and diagnostics. Cleveland Clinic Innovations has more than 80 spin-off companies overall and a portfolio of more than 1,200 patents issued.