HCMC and TreeHouse Health Sign Innovation Partnership
TreeHouse Health today announced it has entered into a three-year agreement with Hennepin County Medical Center (HCMC) to help the institution find and qualify opportunities and partnerships with early-stage healthcare companies.
As part of the agreement, HCMC’s Center for Healthcare Innovation will have a regular physical presence at the TreeHouse Health facility in downtown Minneapolis.
The agreement calls for TreeHouse Health to help support HCMC’s own internal innovation, while HCMC will help TreeHouse Health’s incubated startups (portfolio companies) understand the issues facing providers and health systems and assist in their path to commercialization.
“TreeHouse Health is dedicated to helping emerging healthcare companies grow successfully,” said John Blank, MD, chairman. “In order to do that, these companies must understand the needs of their customers. As a major healthcare delivery system, HCMC adds tremendous value to our early-stage companies. At the same time, HCMC’s participation in TreeHouse Health, as part of its own innovation strategy, will help support internal innovation efforts and guide the selection of portfolio companies in which TreeHouse Health invests. We anticipate significant benefit to all TreeHouse Health constituents.”
The TreeHouse Health facility in downtown Minneapolis’ Loring Park neighborhood is home to a growing number of early-stage healthcare technology startups, currently seven. These portfolio companies each receive support from TreeHouse and its partners in the form of investment, expertise, space, network connections, and professional services.
“At HCMC, we have a history of innovation in everything from care model design, to technology, to payment models that have been driven by our operational needs at the time,” said CEO Jon L. Pryor, MD, MBA. “Through this partnership, we will connect with other innovators much earlier in the process, and our patients and our community will benefit from the results.”
Partnering with TreeHouse Health will enable HCMC to build upon its successful efforts, such as Hennepin Health, to address the triple aims of improving health and the healthcare experience while decreasing costs. “We look forward to operating in an environment that will enable us to collaborate with other players in the healthcare arena – those that are well established and those that are bringing new approaches – to address strategic problems,” said Pryor.
TreeHouse Health is seeking other “anchor tenant” relationships with organizations in the payer, device, and consumer-oriented sectors of healthcare.
About TreeHouse Health LLC
Launched in October 2013, TreeHouse Health is a Minneapolis-based innovation center supporting entrepreneurial growth for both large and emerging healthcare companies. Its aim is to support the growth of emerging companies while also making it easier for large organizations to innovate. Key to its success is the understanding that every organization, large and small, has its own unique set of goals, challenges, and needs relating to innovation. For more information, please visit http://www.TreeHouse-Health.com. Follow the company athttp://www.twitter.com/TreeHouseHealth and https://www.linkedin.com/company/treehouse-health.
Hennepin County Medical Center (http://www.hcmc.org) is a nationally recognized Level I Adult Trauma Center and Level 1 Pediatric Trauma Center with the largest emergency department in Minnesota. It is operated by Hennepin Healthcare System, Inc., a subsidiary corporation of Hennepin County. The comprehensive public teaching hospital and clinic system includes a 455-bed acute care hospital and primary-care and specialty clinics located in downtown Minneapolis and St. Anthony Village, Brooklyn Center, Brooklyn Park, Golden Valley, and Richfield; and in Minneapolis in the Whittier Neighborhood and on East Lake Street. HCMC also has a retail clinic in Bloomington and an employer-based clinic in the Hennepin County Government Center. HCMC is a partner in the nationally recognized Hennepin Health program that provides health and social services to county patients covered by expanded Medical Assistance.