Spectrum Health Ventures stakes out space in health care investing

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Spectrum Health Ventures stakes out space in health care investing

BY MARK SANCHEZ

Sunday, May 12, 2019 08:41pm

GRAND RAPIDS — Two years ago, the venture capital arm that health system Spectrum Health formed to back innovative health care startups had to go looking for deals because nobody in the field knew it existed.

Today, Spectrum Health Ventures LLC faces a much different situation. Investment prospects now often come from referrals by other large health systems across the U.S. that also operate venture capital arms and want co-investors for deals.

“Spectrum Health is now on the map,” said Scott McLean, executive director of Spectrum Health Ventures, which has forged connections across the U.S. and now is poised to become a more active investor in health care innovation.

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Spectrum Health Innovations Technology Awarded Biomedical Grant To Improve Patient Care

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GRAND RAPIDS, Mich, April 5, 2019 – Spectrum Health Innovations’ technology was awarded a grant of $171,640 from the Michigan Translational Research and Commercialization for Life Sciences (MTRAC) Innovation Hub, a $4 million commercialization-focused program co-funded by the Michigan Economic Development Corporation (MEDC), for its patient auto-slider.

Spectrum Health Innovations’ auto-slider allows one person to move a patient from one flat surface to another without risk for injury. Without the auto-slider four to eight people are needed to efficiently and safely move patients. The device also allows staff to perform the move using the same bed sheet that is always under the patient, regardless of bed, stretcher, etc.

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Lumere Closes Strategic Growth Capital Funding

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Lumere Closes Strategic Growth Capital Funding

Investment Led by Heritage Group with Participation from Clients Spectrum Health Ventures and HCA Healthcare

 | Source: Lumere

CHICAGO, Feb. 11, 2019 (GLOBE NEWSWIRE) — Lumere, Inc., a leading provider of evidence-based analytics and services to reduce unwarranted and costly clinical variation, announced today the closure of a significant round of funding led by Heritage Group. The additional capital will be used to develop and further expand service offerings that enable evidence-led change at health systems nationwide.

“Today, health systems in more than 40 states rely on our proprietary data to make evidence-based decisions when evaluating and optimizing drug and device utilization. Our new services make it possible for physicians to leverage these insights when planning for their cases,” said Hani Elias, JD, MPH, Lumere co-founder and CEO.

“We invest in companies that are passionate about unraveling the complexities of U.S. healthcare and have demonstrated positive momentum. We have been exceedingly impressed with Lumere’s growth during the past three years and are eager to continue supporting their mission,” said Jesse Bland, Principal, Heritage Group, a growth equity firm backed by some of the nation’s leading healthcare companies. Heritage Group also led Lumere’s Series B financing in June 2016.

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A Great Opportunity

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BY BEV SNIDER

Ron Williams, 73, is a proud veteran who has learned to conquer his circumstances.

He served in both the U.S. Army and Marine Corps, and he was wounded in Vietnam. When he returned to his Detroit hometown, he found the city in an uproar with the 1967 riots, a confusion of bloodshed and violence.

A disabled veteran, he is a determined warrior who has learned to overcome many challenges, including trouble with his heart and challenges with mobility.

If you want to watch his eyes light up, just ask him about his daughter, Renee Williams.

Renee, his only child, is a banking executive who does all she can to help her father retain his independence.

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Halyard Introduces Cover Max Full-Coverage Surgical Caps Available With Capture Technology

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BY DOTMED STAFF

ALPHARETTA, Ga.— January 7, 2019 — Halyard, a leading global provider of solutions for the prevention of healthcare-associated infections across acute care and non-acute care settings, today announced the availability of the latest in its portfolio of personal protective equipment (PPE)—COVER MAX* full-coverage Surgical Caps. Two different versions of the Surgical Caps are available—including one with CAPTURE* Technology—to accommodate different hair lengths. They were designed with the latest recommendations[1] from AORN in mind to help prevent surgical site infections caused by microorganisms shed from the skin and hair of perioperative personnel.

“Nobody understands the needs and challenges of the healthcare industry better than those on the front lines of care delivery every day,” said Greg Metcalf, Halyard Global Director for Gloves and Apparel. “We are proud to have had the opportunity to work closely with our customer Spectrum Health, leveraging our shared goals for innovation, to better meet the needs of perioperative clinicians and help protect the patients relying on them for care.”

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66 Hospitals And Health Systems With Innovation Programs | 2018

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BY LAURA DRYDA

Becker’s Healthcare is pleased to recognize 66 hospitals and health systems with innovation programs.

The hospitals and health systems on this list have committed to staying on the forefront of change in healthcare. The hospitals have dedicated departments, institutes and organizations to promote research, development and innovation. Several of the centers include process redesign, care delivery and coordination improvement initiatives; others incubate new ideas for integrating IT into healthcare delivery. Departments featured on this list also support surgeons and researchers in obtaining patents and bringing their ideas for medical devices, diagnostics and mobile health platforms into reality.

Several centers featured on this list have established commercialization arms and technology transfer offices addressing some of the biggest challenges in healthcare delivery.

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Bra Designed For Breast Cancer Survivors Now For Sale

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BY WOODTV8 STAFF

GRAND RAPIDS, Mich. (WOOD) — The thermal bra, which was designed to keep breast cancer survivors warm post reconstructive surgery, is now for sale.

The thermal bra has been years in the making. Jody Faber is the woman behind the idea. Faber brought the idea to Spectrum Health Innovations who collaborated with Central Michigan University to turn the idea into a product.

Since this time last year, about 200 women volunteered to go through a “wearer trial” phase.

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Spectrum Health’s VC fund invests in AI

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October 22, 2018

By Justin Dawes

A local venture capital fund is investing in an out-of-state medical startup with artificial intelligence technology.

Spectrum Health Ventures is joining nine other investors as part of a $20-million, third-phase investment in Los Altos, California-based Gauss Surgical’s medical solution, Triton.

Triton estimates surgical patient blood loss in real time through images and “learning” ability.

The technology has demonstrated that accurate, real-time estimation of blood loss leads to early recognition of hemorrhage, reduced blood transfusions and shortened length of stay for patients.

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Spectrum Health joins investors in new $100 million health care VC fund

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Spectrum Health joins investors in new $100 million health care VC fund

BY MARK SANCHEZ

Saturday, May 26, 2018 12:45pm

GRAND RAPIDS — Spectrum Health has committed $7.5 million to a new Chicago-based venture capital fund that backs emerging heath care technologies.

The commitment to invest $2.5 million annually over three years into 7wire Ventures’ Connected Consumer Health Fund comes from Spectrum Health Ventures LLC, the $100 million venture capital fund the health system formed in early 2017.

By investing in 7wire Ventures and joining a coalition of eight health systems and insurers, Spectrum Health Ventures looks to leverage its capital as well as tap into a national network and expertise to scout for prospective deals.

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Spectrum Health Innovations Receives Large Smartzone Grant for Development of Medical Devices

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MEDIA CONTACT: ANDREA FINNIGAN

Grand Rapids, Mich, Feb. 20, 2018– Spectrum Health Innovations (SHI) was recently awarded a grant from the City of Grand Rapids’ Smartzone Local Development Finance Authority (LDFA) to support the development of new health care solutions.

The $727,000 grant will be used over the course of three years and is the largest one SHI has ever received.

“A number of highly competitive proposals were submitted to the LDFA and SHI is honored to be selected as an awardee,” said Spectrum Health Innovations Senior Director, Dr. Brent Mulder. “We have a great partnership with Grand Valley State University (GVSU) and Kendall College of Art and Design of Ferris State University (KCAD) working on new health care technologies over the past five years and this award will serve to expand upon this already successful platform.”

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