OSF HealthCare has launched OSF Ventures designed to strategically invest in new technology and devices that can transform and improve healthcare.

The Peoria, Ill.-based health system's corporate investment arm aims to financially back companies that have emerging technology to improve patient outcomes and reduce the financial burden to the healthcare system, according to a release.

“This venture program gives OSF earlier access to viable solutions beneficial to the industry,” said Kevin Schoeplein, CEO of OSF HealthCare. “The investment strategy solidifies our commitment to innovation in the healthcare space.”

“Our interests include healt care IT, diagnostics and medical devices,” said Stan Lynall, director of Venture Investments for OSF. “We also welcome the opportunity to partner with the companies we invest in to advance their product or service.”

OSF Ventures has made four investments to date:

• Pieces Technologies in Dallas: A health IT company on a mission to advance health at every decision. The Pieces technology interprets patient data in real-time, using predictive models and deep clinical research to create warning tools that can save lives and grow healthier communities. 
• Health Catalyst in Salt Lake City: A mission-driven data warehousing, analytics and outcomes-improvement company that helps healthcare organizations of all sizes perform the clinical, financial and operational reporting and analysis needed for population health and accountable care. 
• Pulse Therapeutics in St. Louis: A growing medical technology company advancing the fight against stroke, heart disease and other conditions with its high-level treatment solutions. The company has developed a new approach to accelerate the delivery of therapeutic agents within the vasculature. The use of the company's patented technology, Magnetically Enhanced Delivery (MED) to control nanoscale, biologically-safe iron particles, has great potential to effect the fluid dynamics of drug delivery.  
• AVIA in Chicago: The innovation partner to the nation’s forward-leaning health systems. The AVIA Innovator Network brings providers together to solve shared challenges through a model that drives a rigorous process to identify, implement and scale innovations.  

OSF Ventures plans to invest in up to eight companies per year.