US-based Cleveland Clinic and its Innovation Alliance, the corporate venturing unit of a local medical centre, and non-profit venture incubator JumpStart, has formed a strategic partnership with i360medical. i360, a healthcare solutions and medical device company, is a spin-out from the Royal College of Surgeons in Ireland (RCSI). i360 will now represent the European wing of Cleveland Clinic’s Innovation Alliance programme which includes North Shore LIJ, MedStar Health, Promedica and Notre Dame.
i360medical operated for four years as the Centre for Innovation in Surgical Technology (CIST).
The partnership between i360medical and Cleveland Clinic came about following introductions brokered by Enterprise Ireland, the government agency in Ireland responsible for supporting Irish businesses. i360medical will also appoint a Cleveland Clinic representative onto its board of Directors, and its commercial and clinical advisory boards.
Derek Young, founder and Chief Executive said of i360medical said of the partnership: “This partnership with Cleveland Clinic and becoming part of Cleveland’s extended family, the ‘Innovation Alliance Program’ offers valuable benefits to all participants. It allows collaboration in healthcare innovation which will facilitate the development of technology and innovative ideas, ensuring introduction into both European and United States markets. It will also immediately extend i360medical’s footprint into the US and gives i360medical access to support a significant number of large healthcare groups across the United States. For Cleveland Clinic healthcare partners and companies, i360medical can support them from offices in Cleveland and Dublin and efficiently expand their reach by making Ireland their European and rest of world launch pad”.
i360medical is now planning to work with universities in Ireland.