The Inova Health System www.inova.org located throughout the Washington D.C and beyond has established Inova Strategic Investments (ISI) www.inovastrategicinvestments.org and the Inova Personalized Health Accelerator (IPHA) www.inovapha.org. ISI and IPHA are located at the Inova Center for Personalized Health www.inova.org/inova-center-for-personalized-health.
“The healthcare industry is undergoing dramatic transformation including advances and disruption in clinical practices and precision medicine, increased availability of health data online, and growing consumer engagement in personal wellness,” said Knox Singleton CEO, Inova Health System.
He adds, “These changes provide new opportunities and a real imperative for Inova to facilitate development and adoption of the next generation of innovations that will improve the way we deliver care.”
ISI will invest in healthcare venture funds and invest directly into companies aligned with Inova’s strategic priorities. These priorities include advanced analytics, innovations in safety, quality, clinical practices, and advances in information technology.
IPHA concentrates on the validation of prototypes in the Inova clinical environment and the broader health services market. Beta partnerships are created to develop products which reduce funding requirements and more efficient customer access. The IPHA will host six to eight companies per year and provide education and capital to entrepreneurial companies
Program participants receive an initial $75,000 investment in exchange for a 10 percent equity position. When the program is completed, participants are eligible for a second investment of up to $250,000. Also, ISI monitors all IPHA graduates for further investment consideration.