The following is an excerpt from an AVIA Venture Network article. Read the full original article by AVIA here.
The AVIA Venture Network was created to help health systems sift through today’s noisy digital health landscape and better identify solution companies for investment, showcasing pre-vetted investment opportunities to a group of like-minded health system strategic investors.
When Jim Jamieson and Brian Fengler, MD, co-founders of EvidenceCare, approached Bon Secours Mercy Health with their digital solution, they found a receptive team that signed on as investors and strategic partners. Bon Secours Mercy Health then surfaced the company to the broader Venture Network and shared the story of their successful partnership, which connected the EvidenceCare team with another enthusiastic investor in Ballad Health.
“As an early-stage digital health company, our goal is to be innovative and disruptive to the marketplace, but the reality is the disruptive model doesn’t align at most hospitals that are just struggling to keep the status quo,” said Fengler. “We love that the AVIA Network is a prescreened network of innovative health systems with the funds to invest in digital transformation and a culture of innovation. The AVIA Network brings us to the right people at the right innovative client.”
The partnership between health systems and digital health companies upon investment extends far beyond a financial transaction, as evidenced by the relationship between Bon Secours Mercy Health, Ballad Health, and EvidenceCare.
“Investing together is always a big win-win-win in our book,” said John Perez, Senior Manager & Venture Network Lead at AVIA. “These collaborative partnerships supercharge the ability to innovate and improve outcomes across the board, which is really what AVIA’s Venture Network is all about.”