Mor Research Applications, a subsidiary of Israel-based insurance provider and hospital operator Clalit Health Services, has provided an undisclosed amount of capital for US-based private equity firm Aspire Universal’s latest fund.
Aspire launched Aspire Venture Precision Medicine Fund in April 2018 with $30m to invest in medical devices and therapies that leverage artificial intelligence and internet-of-things technology. The vehicle will be co-managed by healthcare services provider Penn Medicine Lancaster General Health.
The fund also supports technology emerging from the Smart Health Innovation Lab (iLab), which was established by Penn Medicine Lancaster General Health, Aspire and health insurers Capital BlueCross and Clio Health in 2017. It provides startups with mentoring from a network of experts, and an environment to test and validate their products.
At iLab, eight startups per year will proceed through a 12-week certification process which is designed to accelerate insurance reimbursement and pilot deployments.