Hospitals once dove headfirst into venture capital with splashy headlines and attention-grabbing numbers. Now, in an era of flattened margins and exceedingly uncertain returns, many health systems are quietly pulling back.
NewYork-Presbyterian’s venture firm, once managing roughly $40 million in assets, was essentially dissolved, two former employees said, with leaders punting it from the system’s strategy division to innovation, then from innovation to the investment office — a spokesperson described it as being “integrated” into the broader strategy. PitchBook data show no investments after 2020.
advertisement
Advocate Health Enterprises, meanwhile, the venture firm of a 67-hospital system based in Charlotte, N.C., has lost at least six employees within the past year, including its president, from a staff that once included about a dozen people.
Unlock this article by subscribing to STAT+ and enjoy your first 30 days free!
GET STARTED Log In
Previous article：
What the US credit downgrade means for the economy, your finances
Next article： How one medical school became remarkably diverse
Next article： How one medical school became remarkably diverse
