frequent Catalyst on Monday mentioned it’s collaborating with WellSpan well being, marking the enterprise capital agency’s fourth digital innovation partnership with a well being system.
frequent Catalyst and York, Pennsylvania-based mostly WellSpan well being will sort out challenges recognized by the well being system. initiatives may contain designing care fashions that tie in behavioral well being and social determinants of well being, as properly as to simplifying affected person expertise with expertise for care navigation, mentioned Roxanna Gapstur, WellSpan’s president and CEO.
The partnership permits WellSpan to faucet into frequent Catalyst’s so-recognized as “well being assurance” community, a gaggle of healthcare expertise corporations by which frequent Catalyst has invested. It additionally presents WellSpan with earlier entry to tech improvements, and frequent Catalyst with perception from healthcare consultants.
“Our thesis is that healthcare transformation will happen by and with well being strategies,” mentioned Daryl Tol, who joined frequent Catalyst in July as its head of its well being assurance ecosystem.
very like its partnerships with completely different well being strategies, there was no monetary dedication from both WellSpan or frequent Catalyst. WellSpan would possibly put money into co-progress efforts with frequent Catalyst, resembling if the organizations decide to create an group or mental property, Gapstur mentioned.
“that presents WellSpan an alternative to be an investor and in on the underside floor for some actually fascinating collaborations and disruptions,” Gapstur mentioned.
frequent Catalyst, which at present tapped Intermountain Healthcare CEO Dr. Marc Harrison to affix the agency and closed a $670 million fund final month, has associated partnerships with Philadelphia-based mostly Jefferson well being, Salt Lake metropolis-based mostly Intermountain Healthcare and Nashville, Tennessee-based mostly HCA Healthcare.
the agency goals to have 10 well being system companions by 12 months’s finish, in line with Tol.
frequent Catalyst is wanting for a diversified group of healthcare companions, collectively with youngsters’s hospitals, tutorial medical facilities, not-for-revenue, for-revenue and organizations in metropolis, suburban and rural areas, Tol mentioned. The areas of focus for every partnership will differ by group.
frequent Catalyst’s investments in digital well being corporations embody worth-based mostly supplier Cityblock well being, computer software agency Commure and synthetic intelligence and automation agency Olive. It was an early investor in Oscar well being. outdoors of healthcare, it has invested in corporations like Airbnb, Snap and Warby Parker.