|
Catholic Health Systems Partner to Form Healthcare Venture Fund October 5, 2007 Catholic Health East is one of three national Catholic health systems who have joined together to form CHV II, LP, a $200 million venture capital fund focused on making venture investments in the healthcare industry. CHE, along with Ascension Health and Catholic Health Initiatives (CHI) are the participating limited partners. Ascension Health Ventures II, LLC (AHV), a wholly-owned subsidiary of Ascension Health, the nation's largest Catholic health system, will be the general partner and provide management services to the limited partnership. CHV II is the second captive strategic venture fund for Ascension Health and the first for CHI and CHE. In 2001, Ascension Health launched Ascension Health Ventures with $125 million. That fund is now fully invested, committed and reserved in more than 20 portfolio companies and has begun to deliver financial returns to Ascension Health. In addition to financial returns, Ascension Health has reaped significant strategic benefits through access to AHV's in-depth research and line of sight into future innovations, while Ascension Health facilities have adopted numerous products, technologies and services that have been referred by AHV. CHV II will continue the investment strategy that AHV employed in its first fund, targeting expansion to later stage medical device, healthcare technology and healthcare service companies in areas of interest to the limited partners. A portion of the fund will also be committed to other healthcare venture funds. "This health venture capital fund provides a Catholic health ministry like CHE the unique opportunity to collaborate with others to stimulate clinical innovations and improvements in quality and patient safety," said Robert Stanek, President and CEO, Catholic Health East. "CHE expects this commitment to CHV II will help us as we strive to deliver on our 2017 Preferred Delivery model." "We are proud of what has been accomplished with AHV and very excited about expanding our limited partner base with such quality partners," said Matt Hermann, Managing Director at Ascension Health Ventures. "By adding CHI and CHE as our strategic investing partners, we offer a more compelling multi-system reason for healthcare companies to speak with us." |
|
. . . . . . . . . . . . . . . Catholic Health East | About Us | Services | Employment | Regional Health Systems | Outreach | Publications | Contact Us | For CHE Members
Catholic Health East, 3805 West Chester Pike, Suite 100 |