Hospital and health system venture capital arms help provide financial investment and resources to startups. If successful, these companies have the potential to generate additional revenue for the health system.
Here are four moves from health system VC arms Becker's has covered since Feb. 2:
- The Wharton-Penn Medicine Fund for Health, a venture between Philadelphia-based Penn Medicine and the Wharton Environmental, Social and Governance Initiative, invested in Twentyeight Health, a digital health startup aiming to improve the reproductive health of women from underserved communities.
- Pittsburgh-based UPMC Enterprises participated in the $51 million expansion series B financing round for drug discovery company Cerevance.
- Kaiser Permanente Ventures participated in a $34 million funding round for NOCD, a company that offers virtual treatment for obsessive-compulsive disorder.
- UPMC Enterprises, the venture capital arm of Pittsburgh-based UPMC, joined in a $50 million series D financing round for Clearsense, a healthcare analytics and data company.