In 2016, we set out to make OSF Ventures a leader in the world of health care system-sponsored venture investment programs. Five years later, we’ve done just that by investing in opportunities that bring value to OSF HealthCare and our patients.
OSF Ventures, a part of OSF Innovation, now manages a $150 million investment fund. We’ve made 23 investments in emerging health care technology companies. Four of those companies were acquired by larger businesses in the health care industry. And one went public through an initial public offering. We are also adding team members to source new health care solutions and broaden our due diligence efforts.
As a result, OSF HealthCare has tested and deployed many new technologies, devices and services that improve how we care for patients and drive patient outcomes. In some cases, these initiatives have also reduced costs to the Ministry and those we serve. Several of the solutions we’ve invested in also helped us launch a successful COVID-19 response.
No slowing down
The last year was challenging for everyone in the health care industry. However, many of our portfolio companies overcame the situation by working with us to customize products and services that could help us care for people at home. As a result, OSF effectively served patients in new ways that we will use well after the worst of COVID-19 is over.
As for the OSF Ventures team, we stayed active and engaged in evaluating and investing in new technologies. We invested in six companies and one fund in 2020, the most we have ever done in any year. These include:
- DotCom Therapy: a teletherapy company that hand-matches students, patients and clients with therapists who provide the highest quality therapy in a live, online, face-to-face setting.
- Inflammatix: a company that is reimagining diagnostics by “reading” the patient’s immune system to deliver rapid results that improve patient care and reduce major public health burdens.
- SilverCloud: a digital mental health company that enables the delivery of clinically validated digital health and therapeutic care, improving outcomes, increasing access and reducing costs.
- PhotoniCare: a company that built the first otoscope that provides non-invasive imaging of the middle ear to directly visualize and characterize fluid, a necessity for the diagnosis of middle ear infections.
- Vida Diagnostics: a company working to modernize lung and respiratory care.
- Respiratory Motion: a company that has developed a non-invasive minute ventilation, tidal volume and respiratory rate monitor.
- Ascension Ventures Fund V: a strategic health care venture fund with more than $1 billion in assets under management.
Why partner with OSF Ventures
An investment from OSF Ventures is a partnership to accelerate the growth of your company. You will gain access to broad innovation and clinical resources to refine your concept and maximize scale and impact. There is also the possibility of OSF HealthCare being an early adopter of your product or service.
We are committed to investing in technology that supports our digital transformation. This includes tools to assist with new care models and different ways of serving people both in and outside the hospital. We also have a strong interest in medical technology, devices, diagnostics and therapeutics.
Learn more about OSF Ventures and partner with us by visiting our website.