New York-based venture studio Aegis Ventures has established the new ‘Digital Consortium’, a collaborative initiative with nine major health systems.
The health systems partnering with Aegis Ventures in this venture include Endeavor Health, Indiana University Health, Northwell Health, Novant Health, The Ohio State University Wexner Medical Center, Sharp HealthCare, and Stanford Health Care.
All these health systems will team up with Aegis Ventures to co-develop, invest in, and deploy health tech solutions to tackle some of the most challenging issues in healthcare such as quality, equity, and cost.
The partnership is also expected to generate diversified revenue streams for the participating health systems.
Aegis said that these health systems were chosen for their proven leadership and contributions to care delivery and quality. Collectively, they represent over $65bn in operating revenue and have more than 300,000 employees.
Since its inception in 2020, Aegis Ventures has worked to introduce a new model for facilitating collaboration between entrepreneurs and health systems, allowing them to create and implement technologies that enhance access, affordability, quality, and sustainability in healthcare.
Through the new Digital Consortium, the associated health systems and Aegis will focus on co-creating an ecosystem of interrelated companies, designed by health systems for health systems, to address fundamental clinical and operational challenges.
AI and automation, underpinned by deep healthcare expertise, will be central to the consortium's ventures.
This initiative builds on a three-year partnership between Northwell Health and Aegis Ventures.
Their collaboration has so far led to the development and expansion of four companies specialising in patient engagement, workflow automation, women's health, emotion analytics and AI-enabled diagnostics.
According to Aegis Ventures, this partnership has set a precedent for health system-led innovation.
Northwell Health president and CEO Michael Dowling said: “Together, we've fast-tracked the creation of cost-effective, validated solutions that solve important challenges across our enterprise and can now be replicated with health systems across the country. The Digital Consortium harnesses health systems' collective expertise to foster groundbreaking solutions, redefining healthcare delivery for the better.”
