In the News

Spectrum Health Ventures invests in care planning startup

Spectrum Health Ventures invests in care planning startup

BY MIBIZ STAFF

Wednesday, June 19, 2019 12:37pm

GRAND RAPIDS — Spectrum Health Ventures LLC was among the lead investors that invested $10.3 million in Vynca Inc., a Palo Alto, Calif.-based provider of advanced care planning.

The venture capital arm of Grand Rapids-based Spectrum Health invested $1 million in the Series B capital round, which also included First Trust Capital Partners LLC in Wheaton, Ill., Chicago-based OCA Ventures, and other strategic investors.

Dr. Scott Lancaster, clinical director for Spectrum Health Ventures, joined the Vynca board as an observer.

The capital will fund new product development and the company’s expansion into new geographic markets, according to a statement.

“Spectrum Health Ventures supports innovations that can reduce cost, improve quality, and increase patient engagement and satisfaction,” Lancaster said. “We are proud to partner with Vynca, whose impressive growth and innovative platforms are providing national leadership by reflecting patient preferences for end-of-life care.”

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Spectrum Health Ventures stakes out space in health care investing

Spectrum Health Ventures stakes out space in health care investing

BY MARK SANCHEZ

Sunday, May 12, 2019 08:41pm

GRAND RAPIDS — Two years ago, the venture capital arm that health system Spectrum Health formed to back innovative health care startups had to go looking for deals because nobody in the field knew it existed.

Today, Spectrum Health Ventures LLC faces a much different situation. Investment prospects now often come from referrals by other large health systems across the U.S. that also operate venture capital arms and want co-investors for deals.

“Spectrum Health is now on the map,” said Scott McLean, executive director of Spectrum Health Ventures, which has forged connections across the U.S. and now is poised to become a more active investor in health care innovation.

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Lumere Closes Strategic Growth Capital Funding

Lumere Closes Strategic Growth Capital Funding

Investment Led by Heritage Group with Participation from Clients Spectrum Health Ventures and HCA Healthcare

| Source: Lumere

CHICAGO, Feb. 11, 2019 (GLOBE NEWSWIRE) — Lumere, Inc., a leading provider of evidence-based analytics and services to reduce unwarranted and costly clinical variation, announced today the closure of a significant round of funding led by Heritage Group. The additional capital will be used to develop and further expand service offerings that enable evidence-led change at health systems nationwide.

“Today, health systems in more than 40 states rely on our proprietary data to make evidence-based decisions when evaluating and optimizing drug and device utilization. Our new services make it possible for physicians to leverage these insights when planning for their cases,” said Hani Elias, JD, MPH, Lumere co-founder and CEO.

“We invest in companies that are passionate about unraveling the complexities of U.S. healthcare and have demonstrated positive momentum. We have been exceedingly impressed with Lumere’s growth during the past three years and are eager to continue supporting their mission,” said Jesse Bland, Principal, Heritage Group, a growth equity firm backed by some of the nation’s leading healthcare companies. Heritage Group also led Lumere’s Series B financing in June 2016.

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Spectrum Health’s VC fund invests in AI

Health system’s VC fund invests in AI

October 22, 2018
By Justin Dawes

A local venture capital fund is investing in an out-of-state medical startup with artificial intelligence technology.

Spectrum Health Ventures is joining nine other investors as part of a $20-million, third-phase investment in Los Altos, California-based Gauss Surgical’s medical solution, Triton.

Triton estimates surgical patient blood loss in real time through images and “learning” ability.

The technology has demonstrated that accurate, real-time estimation of blood loss leads to early recognition of hemorrhage, reduced blood transfusions and shortened length of stay for patients.

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Spectrum Health joins investors in new $100 million health care VC fund

Spectrum Health joins investors in new $100 million health care VC fund

BY MARK SANCHEZ

Saturday, May 26, 2018 12:45pm

GRAND RAPIDS — Spectrum Health has committed $7.5 million to a new Chicago-based venture capital fund that backs emerging heath care technologies.

The commitment to invest $2.5 million annually over three years into 7wire Ventures’ Connected Consumer Health Fund comes from Spectrum Health Ventures LLC, the $100 million venture capital fund the health system formed in early 2017.

By investing in 7wire Ventures and joining a coalition of eight health systems and insurers, Spectrum Health Ventures looks to leverage its capital as well as tap into a national network and expertise to scout for prospective deals.

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CareDox Secures $16 Million in Series B Financing to Transform Pediatric Health

CareDox Secures $16 Million in Series B Financing to Transform Pediatric Health

Digital health company will use financing to accelerate its national network of schools and providers, enabling every child to get the right care at the right time

NEWS PROVIDED BY CareDox

Jan 17, 2018, 08:00 ET

NEW YORKJan. 17, 2018 /PRNewswire/ — CareDox, a pediatric healthcare technology leader, today announced it has closed a Series B financing of $16 million, co-led by AI Life Sciences Investments LLC and 7wire Ventures with additional investments from Digitalis, Prolog Ventures, StartUp Health, and Wanxiang Healthcare Investments.

“K through 12 schools manage healthcare for more than 50 million kids nationwide, making them the largest healthcare delivery system in this country. Yet, they are highly fragmented and disconnected from traditional care settings. We have a huge opportunity and responsibility to improve pediatric care by digitally connecting the real care team – school nurses, parents, pediatricians – around the child, wherever they are,” said Hesky Kutscher, CEO, CareDox. “We are thrilled that our investor syndicate shares our vision to radically improve pediatric health through technology that better serves and connects students, parents, providers and payers.”

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ORIG3N™ Closes Latest Round of Funding; Welcomes New Board Member and New Investor

ORIG3N™ Closes Latest Round of Funding; Welcomes New Board Member and New Investor

Funding will support accelerated growth and intensification of research and development efforts

NEWS PROVIDED BY ORIG3N, Inc.

Jun 27, 2017, 09:00 ET

BOSTONJune 27, 2017 /PRNewswire/ — ORIG3N, Inc., a Boston-based biomedical research company, has announced the addition of Byron Smith to its Board of Directors and Spectrum Health Ventures (SHV) to its investor syndicate. The announcements come on the heels of the close of ORIG3N’s latest round of funding. ORIG3N has raised over $30 million in capital to date since it was founded in 2014.

Byron Smith brings decades of industry experience to ORIG3N’s board of directors. Mr. Smith is currently a Principal at Mountain Group Partners (MGP), a Fund dedicated to investing in and guiding transformation businesses in the life science and technology sectors. Prior to his involvement with MGP, Mr. Smith held a long and distinguished career in the wireless and tech spaces. He began his career in brand management and advertising, before moving to Silicon Valley and transitioning into tech, where he gained experience in media/content and internet technology/infrastructure. Now, back on the East Coast, Mr. Smith serves on or has visitation rights to the board of directors of many companies in the health services sector.

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Spectrum Health Joins AVIA to Invest in Healthcare Innovation

Spectrum Health Joins AVIA to Invest in Healthcare Innovation

CHICAGO–(BUSINESS WIRE) Aug. 1, 2017–AVIA announced today that Spectrum Health has joined AVIA, the nation’s leading network for health systems seeking to innovate and transform by unlocking the power of digital solutions.

Earlier this year, Spectrum Health formed a venture capital fund to invest $100 million in healthcare companies over the next ten years. The new fund, Spectrum Health Ventures LLC, will focus on finding, investing, and implementing digital solutions addressing prevention and wellness, care delivery transformation, consumer engagement, and genomics.

“At Spectrum Health, we strive to be at the forefront of healthcare, pushing ourselves toward innovation and cutting-edge technologies,” said Roger Jansen, Spectrum Health’s chief strategy officer. “By joining AVIA, we will collaborate with other leading health systems in the network to make smarter technology selections and investment decisions.”

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Midsize hospital systems taking the VC plunge

Midsize hospital systems taking the VC plunge

Spectrum Health wants to help shape healthcare delivery of the future, not react to it.

The 12-hospital health system based in Grand Rapids, Mich., has just created a $100 million venture capital fund to invest in personalized medicine, information technology, population health management and other emerging technologies. It’s looking for companies offering solutions to providing better, lower-cost care, said Roger Jansen, Spectrum’s chief strategy officer.

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Spectrum Health forms VC fund to invest up to $100M in health care companies

Spectrum Health forms VC fund to invest up to $100M in health care companies

BY MARK SANCHEZ

Sunday, March 12, 2017 08:00am

GRAND RAPIDS — Spectrum Health has formed a new venture capital fund that could invest up to $100 million into health care-related companies over the next decade, MiBiz has learned.

The new fund, Spectrum Health Ventures LLC, plans to invest in companies commercializing new technologies, products and services that improve patient health and drive down costs, according to a senior executive at Grand Rapids-based Spectrum Health.

Creating a corporate venture capital fund that would co-invest with other health systems around the U.S. can put Spectrum Health at the forefront of developing and accessing medical innovations for care locally, said Roger Jansen, chief strategy officer at the health system.

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