Chicago, IL (July 6, 2020) – HealthEco announced today that one of the largest health systems in Northeast Ohio, University Hospitals, has joined forces as part of a strategic collaboration agreement in order to leverage HealthEco’s network for growth opportunities.
HealthEco is building a network of professional associations, health systems, payors, employers, universities, and investors to support health systems in their development of new business models and commercialization of assets developed from within their organizations or among peer networks.
UH Ventures, the innovation and commercialization arm of University Hospitals, focuses on spinning out new companies, potentializing existing business operations and partnering in the development of new products and services in order to help the system diversity revenues.
HealthEco will facilitate these objectives by helping UH Ventures to quickly stand up new ventures and programs for rapid deployment to the marketplace, delivering scale for their commercialization efforts.
“Since formation, UH Ventures has expanded beyond our business optimization and alternative income focus, to also contribute to the economic and innovation ecosystem in northeast Ohio, improving community health and spurring a meaningful shift in entrepreneurship and innovation inside UH,” explained David Sylvan, President of UH Ventures. “Health systems across the nation are similarly challenged with diversifying revenue and monetizing their innovations. A platform like HealthEco will provide meaningful opportunities to ideate and co-create with like-minded organizations who are working to transform care delivery and improve population health. Additionally, it will provide the infrastructure for us to share and commercialize our own innovation expertise with this ecosystem.”
HealthEco’s mission is to partner with health systems to deliver growth so they can better focus on improving healthcare outcomes.
“HealthEco is thrilled to launch this initiative with UH Ventures,” said Kyle Hathaway, Managing Partner. “They have a powerful entrepreneurial spirit along with a team eager to collaborate with networks from across the country. Our shared mission and commitment to building scalable businesses and creating margin opportunities for our partners was the guiding tenet to establishing our collaboration. We look forward to announcing the launch of our first joint offering this year.”
HealthEco is a Chicago-based healthcare firm led by former hospital executives and venture capital partners. They combine their decades of experience along with unique skill sets to bring health systems and health providers together with profitable innovation that builds growth, improves margins, and creates sustainable financial health.
Learn more at joinhealtheco.com. Follow on LinkedIn and Twitter @TheHealthEco.
About University Hospitals:
Founded in 1866, University Hospitals serves the needs of patients through an integrated network of 18 hospitals, more than 50 health centers and outpatient facilities, and 200 physician offices in 16 counties throughout northern Ohio. The system’s flagship academic medical center, University Hospitals Cleveland Medical Center, located in Cleveland’s University Circle, is affiliated with Case Western Reserve University School of Medicine. The main campus also includes University Hospitals Rainbow Babies & Children’s Hospital, ranked among the top children’s hospitals in the nation; University Hospitals MacDonald Women’s Hospital, Ohio’s only hospital for women; University Hospitals Harrington Heart & Vascular Institute, a high-volume national referral center for complex cardiovascular procedures; and University Hospitals Seidman Cancer Center, part of the NCI-designated Case Comprehensive Cancer Center. UH is home to some of the most prestigious clinical and research programs in the nation, including cancer, pediatrics, women’s health, orthopedics, radiology, neuroscience, cardiology and cardiovascular surgery, digestive health, transplantation and urology. Follow UH on LinkedIn, Facebook @UniversityHospitals and Twitter @UHhospitals. For more information, visit UHhospitals.org.