The merger between Spectrum Health and Beaumont Health created a larger network from which Spectrum’s VC arm can source deals, MiBiz reports.
Spectrum Health Ventures often gets investment leads from within the health system. The Spectrum and Beaumont merger this year creating the largest in-state health system in Michigan, known as BHSH System, gives the venture capital division a new source network to tap in Southeast Michigan.
Spectrum Health Ventures makes capital investments in companies with products or services that can reduce costs, increase patient and practitioner engagement, improve quality and health outcomes, or improve health and wellness.
The Grand Rapids health system formed the venture capital fund in early 2017 with a $100 million commitment.
In the five years since, Spectrum Health Ventures has deployed about half of the $100 million and committed another $25 million to investments with other funds. The fund holds positions in 33 portfolio companies either directly or indirectly through investment consortiums. It has another deal pending in a West Michigan company that is expected to close soon, and it has recorded two successful exits that generated strong multiples in returns on investments. Read more.
