Healthcare provider OSF Healthcare has committed an undisclosed amount of capital to a fund managed by US-based venture capital firm LRVHealth through its corporate venturing unit, OSF Ventures.
The corporate is now a limited partner in LRVHealth’s fourth investment fund. LRV IV had targeted a $100m close in January 2018, and the firm said at the time it had secured eight national healthcare systems as partners for the vehicle.
LRVHealth invests in early-stage developers of healthcare IT, services, devices, diagnostics and other healthcare technology-enabled products. OSF will help it identify, create and invest in startups, as well as securing access to early-stage portfolio companies.
The firm’s previous investments include diagnostics platform First Light Diagnostics, healthcare startup accelerator Healthbox, risk management software developer Medventive and patient check-in app provider Pharessia.
Stan Lynall, vice-president of OSF Venture Investments, said: “Consumerism in healthcare is quickly evolving and consumers are demanding a different experience from their healthcare providers.
“As another set of eyes and ears that’s looking for the best innovation in the digital health ecosystem, LRVHealth will enable us to be ahead of the curve in meeting and exceeding these new expectations.”