The vast challenges facing non-profit health systems like Northeast Georgia Health System (NGHS) – everything from the current nursing shortage, employee burnout due to the COVID-19 pandemic, increased violence against healthcare workers, shifting payment models and more – often require creative solutions fueled by outside-the-box thinking. That’s exactly why NGHS is launching Northeast Georgia Health Ventures.
Northeast Georgia Health Ventures (NGHV) is a partnership between NGHS and Prinnovo, LLC, a company that specializes in working with independent, mid-sized health systems to establish, staff and manage their own health venture office.
“Our goal is to solve the problems our patients, caregivers and support staff face today by creating a real-world path to innovation – not making risky investments in unproven products,” says Carol Burrell, president and CEO of Northeast Georgia Health System. “We chose to work with Prinnovo to help launch NGHV because of their unique approach, which embeds a team of ventures experts with our clinical and operational leaders to find innovative solutions that address our most strategic needs.”
“The team we’re building at NGHV knows how to identify promising startups from across the nation, then bring their bright ideas to benefit people in this region,” says Mark Rainosek, CEO of Prinnovo. “The system will partner with these startups to rapidly co-create, pilot, validate and scale their solutions in the healthcare market. Validated companies will then be considered for investment by NGHV and their investment partners.”
The Northeast Georgia Health Ventures launch was announced today during Venture Atlanta, which brings together founders and funders of the Southeast’s most promising tech companies at one of the nation’s largest venture capital conferences.
“We’re excited to introduce this new health venture office, which offers a unique approach to the startup community,” says Stuart Bracken, venture principal for NGHV. “As an experienced healthcare entrepreneur, I know firsthand the importance of aligning incentives when it comes to the adoption of innovative technologies. NGHV will bring in selected entrepreneurs to help solve strategic challenges for a world-class health system, which will accelerate their own growth in return – and ultimately benefit patients in the process.”
Any early stage company that has not raised institutional capital – or a venture fund that wants to invest in validated, early stage companies alongside a strong and growing health system – can learn more and contact the Northeast Georgia Health Ventures team at nghventures.com.
