Mayank Taneja is to take over the running of OSF Ventures, the corporate investment arm of the US-based healthcare corporation, as Stan Lynall retires. Lynall, who founded the unit in 2015, will still play a part-time role at the organisation, looking at portfolio management and continuing board observer roles on eight portfolio companies.
The leadership change comes just after OSF Ventures announced its third and largest venture capital fund sized at $100m, with its strategic investment in aligned healthcare venture capital funds: Ascension Ventures and LRV Health. In his new role, Taneja will manage $250m in assets across three funds, as well as 28 direct investments into companies.
OSF Healthcare is a not-for-profit Catholic healthcare corporation that serves patients across Michigan and Illinois, with 15 hospitals to its name.
Taneja, who is a doctor by training and worked at medical device company Zimmer and at the Rotham Institute as a clinical trials coordinator, joined OFS Ventures in 2016. He led several OFS investments such as the mental health platform SilverCloud and CareSignal, a remote patient service, and was the board observer for companies such as Current Health, the enterprise care-at-home platform which was acquired by Best Buy.
OFS Ventures’ investments include CancerIQ, which empowers healthcare providers to detect cancer early. The unit has so far nine exits such as BrightWater Medical, the developer of medical devices to treat biliary and urinary blockages, which was sold to Merit Medical for $50m.