OSF Ventures, a Peoria, Ill.-based corporate investment arm of OSF HealthCare, is joining other health care systems and strategic investors from within the healthcare industry as a limited partner in Boston-based LRVHealth.
Founded in 2000, LRVHealth is the premiere early stage venture platform exclusively focused on finding, investing in and building disruptive new digital health, devices and diagnostic companies.
As a strategic investor in LRVHealth’s fourth fund, OSF HealthCare will benefit from access to early-stage companies that have been identified and vetted through a network that reaches across the healthcare continuum in the U.S. These companies are often in the initial phases of developing solutions to enhance patient experiences, improve outcomes, and reduce costs.
As part of LRVHealth’s collaborative innovation platform, which represents a network that delivers care to 50 million Americans across 25 states, OSF will help identify, create and invest in early-stage companies spanning healthcare IT, tech-enabled health services, medical devices, and diagnostics.
Led by Stan Lynall, OSF Ventures continues to seek direct investment opportunities with medical startups at mid-stage development around the U.S. It also partners with incubators, accelerators, and universities to help develop, test, pilot, and implement solutions throughout the health care system.
LRVHealth’s strategic investors now include 11 health care systems and the Innovation Institute, a for-profit venture owned by six non-profit hospital systems that operate in 20 states. The institute invests in and incubates healthcare startups, connecting them with doctors and other healthcare companies.