Dive Temporary:
- Normal Catalyst has added 10 new well being system companions for well being tech growth and testing, together with main hospital operator Common Well being Companies, bringing the enterprise capital agency’s complete roster of hospital companions to fifteen.
- Within the partnerships, Normal Catalyst connects well being methods to well being tech startups, permitting the hospitals to check out and develop new applied sciences and scale current merchandise in trade for the startups testing their merchandise on the bottom.
- Normal Catalyst’s well being system partnerships now encapsulate 10% of the U.S. inhabitants, in accordance with the VC agency. Normal Catalyst informed Healthcare Dive it may add just a few extra companions earlier than the top of the yr, however will follow that cohort till it has tangible outcomes to increase to different well being methods.
Dive Perception:
Normal Catalyst says its aim with the partnerships is to work immediately with well being methods and startups to search out options to the most important ache factors in care supply, administration and extra. The brand new collaborations come as hospitals proceed to climate important headwinds, like excessive staffing prices and risky admissions.
Normal Catalyst’s new additions cowl all kinds of geographies and affected person mixes, which ought to assist it handle a variety of well being wants, and apply that studying extensively, the VC agency stated in its launch.
Normal Catalyst has added UHS, MetroHealth, UC Davis, UCI Well being, Well being First, Banner Well being, Hackensack, The Medical College of South Carolina, OhioHealth and Cincinnati Kids’s Hospital Medical Heart.
Normal Catalyst introduced its first partnership with HCA Healthcare, the most important for-profit hospital operator within the U.S., in August 2021. Previously yr, it added Philadelphia-based Jefferson Well being, Salt Lake Metropolis-based Intermountain Well being and Pennsylvania-based WellSpan Well being, in addition to its first worldwide partnership with Man’s and St Thomas’ NHS Basis Belief, the biggest tutorial hospital system within the U.Okay.
No cash modifications arms within the partnerships.
Within the launch, UHS CEO Marc Miller stated UHS was “notably targeted on innovation that has the potential to boost operations, care supply and affected person expertise in each behavioral well being and acute care settings.” The Pennslyvania-based operator has been in search of areas to ink joint ventures, particularly round behavioral well being, to drive efficiencies as bills have skyrocketed.
In July — just a little over a yr after it closed its first $600 million healthcare fund — Normal Catalyst raised one other $670 million for its healthcare fund. The VC agency’s increase comes as digital well being funding cools off from pandemic highs. The downturn has contributed to a spate of layoffs at digital well being firms this yr.
Normal Catalyst’s healthcare investments embody value-based supplier Cityblock Well being, automation firm Olive, musculoskeletal care supplier Sword Well being, insurtech Oscar Well being and persistent illness supervisor Livongo.
Together with constructing out its hospital companions, it additionally has a historical past of nabbing expertise from the business: Marc Harrison, former CEO of Intermountain, left the system this fall to run considered one of Normal Catalyst’s healthcare platform companies.
