Healthcare company-building profile
UH Ventures
University Hospitals
Source-based profile
Program at a Glance
- Program type
- Accelerator
- Program category
- Health system accelerator
- Organization
- University Hospitals
- Organization type
- Hospital or health system
- Location
- Cleveland, Ohio
- Company stage served
- Not publicly documented
- Cohort or participation model
- Not publicly documented
- Investment or funding offered
- Not publicly documented
- Published investment terms
- Not publicly documented
- Equity or fee model
- Not publicly documented
- Clinical or hospital connection
- Yes
- Application status
- Active
- Founded
- 2018
Public description
About the program
UH Ventures is University Hospitals' combined innovation, technology transfer and venture investment organization, which it describes as the front door for innovation at the system. It operates a Living Lab that partners with companies on trials and pilots inside UH facilities, invests in companies that have been validated internally or generated from its own innovation pipeline, and runs a technology commercialization office for employee inventions. Areas of interest include health IT, medical devices, diagnostics, digital therapeutics, wellness and enterprise operations. It also serves an economic development role as an anchor institution in Northeast Ohio, including through the Veale Initiative. The group both invests externally and develops internal caregiver ideas into companies.
What the program publicly emphasizes
Focus areas and features
- Category: Health system accelerator
Publicly documented people and network
Program leadership and alumni
- Program leader
- Kipum Lee — President, UH Ventures
- Notable alumni named in public materials
- Named to Becker's '51 Health Systems with Great Innovation Programs' for 2024; expanded a medtech partnership reported by Becker's Hospital Review; maintains a growing investment portfolio described by the organization as showing returns; Investments include TailorMed, Lazurite (surgical devices), Renalis (an $824,000 pre-seed round in September 2021), Axuall (a $10.4 million Series A in July 2021) and Conversa Health (a $20 million Series B in January 2021); co-invests with other health system venture arms including Inception Health and Ballad Ventures; runs the UH Caregiver innovation program for employee ideas
Sources
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