Northwell Health has a long and prestigious history of providing state-of- the-art care. Since opening the first genetic lab on Long Island in 1963, Northwell Health has remained at the forefront of cutting-edge innovation. Throughout its history, Northwell Health has had a legacy of milestones that span all areas of healthcare. This rich history serves as an inspiration and model for the excellence of the future.
Northwell Ventures was established in 2013 with the goal of identifying and fostering innovative ideas that enhance the growth of Northwell Health enterprises. We work with doctors, scientists, staff, and entrepreneurs both inside and outside of Northwell to develop / advance ideas and identify / invest in novel technologies and business models that have the prospect to improve patient care, advance Northwell Health’s strategy and further the future of our industry. The key areas under Northwell Ventures include:
- Clinical / Non-Clinical Joint Venture
- Corporate Development
- Direct Equity Investments
- Domestic / International Consulting
- Internal Product / Service Commercialization
- Large Practice Acquisitions
- New Company Creation
The Northwell Ventures strategy enables growth and accelerates our evolution as a health system by striving for private equity and venture class returns with companies that can diversify revenue streams and add contribution margin to the health system. We leverage the existing brand of Northwell Health while building upon our core competencies and internal intellectual property.
Our business objectives focus on incubating Northwell Health’s internal innovation and providing necessary resources to bring them to a marketable state. We also focus on developing partnerships with external organizations, innovators and technologies that improve care delivery and system administration through the formation of joint-ventures, co-development programs, and pilot trials. Additional objectives include the following:
- Create visibility into market trends and progressive business models
- Expand ambulatory delivery market share and capacity consistent with strategic priorities
- Defend current markets and proprietary services
- Leverage brand recognition and create a marketable network through geographic and service coverage
- Diversify financial risk portfolio and generate returns accretive to Northwell’s financial performance
The Northwell Ventures target investment size varies by opportunity and stage with the capacity to contribute larger dollar amounts on a case-by-case basis. We are agnostic to stage of financing, however our preference is in Seed, Series A, and Series B rounds. Northwell Ventures will make investments into pre-revenue, as well as late-stage, revenue positive businesses. We have a healthcare focused approach that is aligned strategically to Northwell Health. We focus on the following Investment Themes:
- Customer and Patient Experience
- Enhancing Organizational Effectiveness
- Transformation of Acute Care
- Population Health Management
In addition to our strategic investment approach, we target qualified management teams, well defined business problems/solutions, and seek board representation clinically and administratively. We will also assist in the development of pilot programs and in-kind services for equity stakes.