April 5, 2017

Around the nation: Cleveland Clinic launches venture capital arm

Daily Briefing
  • California: For the first time in more than 40 years, Kaiser Permanente will open a new medical center in San Diego County. The $850 million, 253-bed San Diego Medical Center will open later this month and features 10 operating rooms, an ED, and a labor and delivery center. Each patient room will house a 75-inch television which can display both entertainment and medical information, and some rooms will feature "virtual guard rails" to help prevent patient falls (Gooch, Becker's Hospital Review, 4/3; Sisson, San Diego Union-Tribune, 4/3).

  • Louisiana: The privatization of the state's charity hospital system has made care more efficient—and provided $2.7 billion in state revenue since the shift in 2013, according to a new economic impact study commissioned by the private partners operating the charity hospitals. According to economist Loren Scott, privatizing the hospitals has also reduced treatment costs by increasing outpatient visits and urgent care center visits rather than ED visits (Hilburn, Monroe New Star/USA Today, 4/3).

  • Ohio: Cleveland Clinic is creating a Cleveland Clinic Ventures department to assist its Cleveland Clinic Innovations arm in incorporating medical breakthrough inventions into products and companies, Crain's Cleveland Business/Modern Healthcare reports. Specifically, Ventures will work to examine new technologies, create related business and funding strategies, and launch new companies. Jack Miner, who previously worked at the University of Michigan, will serve as managing director at the ventures department, while Peter O'Neill, who previously served as the interim executive director of Cleveland Clinic Innovations, will take on his role on a permanent basis (Coutre, Crain's Cleveland Business/Modern Healthcare, 4/3).

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