April 28, 2014
OhioHealth and TechColumbus have entered a partnership to provide $5 million in investment capital for early-stage companies that are based on technology developed by OhioHealth physicians and employees.
OhioHealth will provide the money, while technology business incubator TechColumbus will manage the new OhioHealth Innovation Development Fund.
The fund builds on a partnership that OhioHealth launched seven years ago with TechColumbus. Since OhioHealth launched the Commercialization Program, the two organizations have worked on more than 200 projects involving clinical innovation.
Veteran technology commercialization professional Christopher Willson has led the program since he was hired in January.
“Developing an investment fund was the logical next step in supporting our physicians and staff in creating new innovations to improve patient care as well as taking our partnership with TechColumbus to the next level,” Dr. Bruce Vanderhoff, chief medical officer at OhioHealth, said in a statement.