Health Evolution Partners has launched a network that will serve as an investment fund for financing healthcare innovations and boosting their presence in mainstream health practices. The organization has kicked off the launch by donating $200 million to the network.
The Heath Evolution Partners Innovation Network, or HEPIN, is aimed at early stage and venture companies.
"We face a troubling innovation gap in healthcare," said David J. Brailer, MD, chairman of Health Evolution Partners. "Too few of our biomedical discoveries make it into daily practice because we organize and deliver care the same way we did 100 years ago."
Health Evolution Partners has appointed Roy Ziegler to head HEPIN's early stage investment activity and the following advisors to support investment activities:
• Richard H. Carmona, MD, former U.S. Surgeon General, Vice Chairman of Canyon Ranch, President of Canyon Ranch Institute and a professor at the Zuckerman College of Public Health at the University of Arizona;
• David M. Lawrence, MD, former chairman and CEO of Kaiser Permanente;
• Arnold Milstein, MD, co-founder of The Leapfrog Group;
• and Molly J. Coye, MD, founder and CEO of The Health Technology Center.
"Health Evolution Partners is bringing a fresh perspective and deep insight to its investing activity," said Milstein. "Carefully selected venture fund partners coupled with the advisors' breadth of experience and knowledge will result in bringing to market tools and technologies that can accelerate creation of a more efficient, higher quality and consumer-focused healthcare system."
In addition, Health Evolution Partners has announced the completion of investments in two venture funds, Cardinal Partners and the Psilos Group.
"Cardinal Partners and the Psilos Group are top-tier venture funds with exceptional investment track records in the healthcare industry," said Brailer. "We will partner with them and other strong healthcare venture funds to build the best companies in healthcare and deliver the best return for our investors."
Over the next year, three or four investments will be made in leading healthcare venture funds. These funds will work closely with Health Evolution Partners and each other to develop technologies from concept toward widespread national use.
"Innovative new healthcare technologies offer tremendous opportunities to improve the U.S. healthcare system," said Albert S. Waxman, senior managing member of Psilos. "Our collaboration with Health Evolution Partners will help bring those innovations to commercial success."