MemorialCare Innovation Fund

Wholly owned by MemorialCare Health System, MemorialCare Innovation Fund is a strategic healthcare investment fund. It invests in privately held companies at the early to middle stage, in healthcare information technology, healthcare services and medical device innovation. Its portfolio companies are intended to lift the performance of health systems and physician organizations across the United States, and the fund partners with early businesses run by management teams with a proven track record.

Investments in healthcare technology, services and devices

The fund's three areas are healthcare information technology, healthcare services and medical device innovation. Its portfolio companies are expected to offer strong revenue growth, because they develop new solutions for large health systems and physician groups. The fund's approach is to back companies that can help health systems run more efficiently and deliver better care.

Contract intelligence and spending control

Portfolio news includes SpendRule, whose contract intelligence platform helps hospitals track spending. Four health systems have adopted it, and one of them uses it to stop overpayments. The company raised early funding to address what it calls a spending black hole in healthcare.

Connected devices and cybersecurity

The fund's portfolio also includes Asimily, which provides cyber asset and exposure management for connected medical devices and has added microsegmentation to its platform. Another portfolio company, Carta Healthcare, works on clinical data management and has expanded its customer footprint.

Patient communication and remote care

Artera builds AI agents for patient communication, and its news items cover its executive appointments and growth. TytoCare provides remote diagnostic care, extending virtual primary and urgent care through integrations with other providers. Ascend Learning acquired Laudio, a leadership operations platform for frontline healthcare teams.

Surgical devices and infection control

One portfolio company, Prescient Surgical, was awarded a breakthrough technology agreement that gives member hospitals of a large healthcare alliance pre-negotiated terms on its CleanCision wound retraction and protection device. The device is designed to address surgical site infection, which the company says is a constant threat in abdominal surgery, and the agreement is meant to help it reach more surgeons.

Capacity, quality and clinical tools

Other portfolio names include LeanTaaS, which provides capacity optimization software, and Syllable AI, which is available in the Microsoft marketplace. Together these companies show the fund's focus on tools that improve how health systems plan care and manage operations.