OSF Ventures Gaining Broader Access to Health Care Products

12/08/2016 - Peoria, Illinois

OSF Ventures, the corporate investment arm of OSF HealthCare, is joining other health care systems as a limited partner investor in a fund managed by Ascension Ventures, a strategic health care venture fund focused on the medical device, technology and services sector.  

The subsidiary of St. Louis-based Ascension, the nation’s largest Catholic and nonprofit health system, researches hundreds of early to late-stage health care companies annually for possible investment. Partners like OSF Ventures weigh in on the value of these companies’ products and have the opportunity to pilot the innovative solutions within their respective health care systems.  

“OSF Ventures’ limited partnership investment in the most recent Ascension Ventures Fund gives us early line of site on the devices, technologies and services the Fund is evaluating with the opportunity for us to potentially deploy in our health care environment,” said Stan Lynall, Vice President of Venture Investments for OSF Ventures. “It also opens the door for building deeper relationships with other limited partner health care systems with similar strategic commitments to evolving technologies.”

Michelle Conger, Chief Strategy Officer for OSF HealthCare, will act as an Ascension Ventures board observer for OSF, and several other individuals within OSF will interact with the Fund as they work together to find investments that further innovation in healthcare.

“Ascension Ventures is excited to have an aligned organization like OSF as an investor in our fund,” said Matt Hermann, Senior Managing Director at Ascension Ventures. “We have been impressed by the innovation efforts of OSF and how well-integrated they are within the system, and believe our partnership will complement their efforts.”  

OSF Ventures continues to seek direct investment opportunities with medical startups around the U.S. with technologies that improve patient outcomes and/or reduce costs to health care systems.


OSF HealthCare, headquartered in Peoria, is owned and operated by The Sisters of the Third Order of St. Francis, and consists of more than 18,000 employees in 115 locations, including 11 hospitals throughout Illinois and Michigan. Its physician network employs more than 1,000 primary care, specialist physicians and advanced practice providers. More at www.osfhealthcare.org.

OSF Ventures specializes in venture optimization, partnering financially and operationally in companies that improve patient outcomes and reduce costs to health care systems. OSF Ventures is a division of OSF HealthCare. More at www.osfventures.org.

Ascension Ventures (www.ascensionventures.org) is a strategic health care venture firm with four funds and more than $800 million in capital under management. The firm is a wholly owned subsidiary of Ascension, the nation’s largest Catholic and non-profit health system. Ascension Ventures’ role is to construct and manage a strategic portfolio of investments that deliver venture-level investment returns, have the potential to transform the health care industry, and significantly enhance the experience for patients, their families and their caregivers. Its health system limited partners operate 474 hospitals, have 578,000 employees and generate $88 billion in annual revenue.



Denise Molina-Weiger
Media Relations Coordinator
(309) 677-0827