Calif. systems partner for innovation
Cedars-Sinai Health System and MemorialCare Health System are launching Summation Health Ventures, a new partnership that will accelerate healthcare innovation.
The goals of the collaboration are to improve quality of care, enhance patient experiences and decrease the cost of care, according to an announcement. The partnership enables entrepreneurs, innovators, inventors and companies focused on technologies in the health information, medical device and healthcare services sectors to leverage the clinical and technical expertise of the two health systems.
Strategic investments will focus on start-up, privately-held, early- to mid-stage healthcare companies with a proven and experienced management team, revenue growth potential and products and services that can improve performance and achieve success in the marketplace.
Summation Health Ventures' new corporate entity is equally owned and governed by Cedars-Sinai and MemorialCare, and may add other partners in the future.
"Patient-centered information technologies are essential tools to providing the highest quality of care," said Thomas M. Prisleac, Cedars-Sinai's president and CEO. "This partnership between Cedars-Sinai and MemorialHealth will foster extraordinary innovation that will help physicians, nurses, other healthcare professionals and patients locally and around the nation."
MemorialCare and Cedars-Sinai together have a total of seven hospitals with about 2,500 licensed beds, 4,700 affiliated physicians, 21,600 employees and 250 healthcare provider locations serving two million patients annually.
Editor
Editor Beth earned a bachelor’s degree in journalism and master’s in health communication. She has worked in hospital, academic and publishing settings over the past 20 years. Beth joined TriMed in 2005, as editor of CMIO and Clinical Innovation + Technology. When not covering all things related to health IT, she spends time with her husband and three children.