Where 7 Hospitals have been spending their Innovation Dollars

Where 7 Hospitals have been spending their Innovation Dollars

Innovation might be a buzzword in healthcare nowadays, but hospitals and health systems are making large investments in tech and spinoff companies.

Here are six innovation projects from the last two months:

  1. Pittsburgh-based UPMC Enterprises was part of a $12.5 million series A-1 funding round Aug. 11 for Abridge, a startup that uses artificial intelligence for medical documentation.
  2. Neenah, Wis.-based ThedaCare invested $3 million in care automation startup Qventus as part of a $50 million growth capital round, the health system said Aug. 9.
  3. Rochester, Minn.-based Mayo Clinic joined a $45 million funding series B round July 28 for artificial intelligence company Diagnostic Robotics.
  4. St. Louis-based Ascension Ventures co-led a $50 million series D financing round July 26 for Elation Health, a primary care-focused EHR firm.
  5. University of Chicago Medicine and Sinai Chicago joined a Chicago-based initiative June 30 to increase health equity through innovation, the centerpiece of the city's $3.8 billion development of the 100-plus-acre former Michael Reese Hospital campus.
  6. Cleveland Clinic led a $33 million series B funding round June 27 for medtech spinoff Centerline Biomedical.

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