Lafayette General Health Announces Healthcare Innovation Fund II
Lafayette General Health announces the creation of Healthcare Innovation Fund II. Healthcare Innovation Fund II (HIFII) is a limited liability corporation targeting investments in healthcare companies seeking seed or growth capital. The focus will be on companies that complement the operations and future of fund investors as well as advancing innovation and efficiencies within the local, state and national healthcare marketplace.
Investors in HIFII include several leaders from across the healthcare ecosystem in Louisiana. In addition to Lafayette General Health, limited partners in HIFII include Acadian Companies, LHC Group, Inc., Ochsner Health System and the William C. Schumacher Family Foundation.
“HIFII’s approach is highly collaborative. Our mission is to catalyze fundamental transformation in US healthcare. Together with our investors, HIFII is creating an ecosystem of best-in-class partners who work together to tackle our largest healthcare challenges. The systemic solutions we’re creating address the scale of the problems we have in our healthcare system,” says Cian Robinson executive director of innovation, research and real estate investments for Lafayette General Health.
Innovative companies seeking growth capital, particularly those interested in drastically improving the quality of patient care/experience; highly accelerating the movement towards value based payments; fundamentally innovating back office automation and productivity; and, radically using data and deep learning tools to profoundly affect healthcare delivery, can pitch their product or service to HIFII for consideration. The diligence process includes review by fund investor subject matter experts and evaluation by the HIFII Investment Committee.
“While it’s exciting to participate in an investment fund focused on innovation, we view our participation more as a responsibility to patients. Our hope is that this fund will provide products and services that positively impact patients by improving their healthcare experience and outcomes,” says William C. Schumacher Family Foundation CEO & General Counsel Ryan R. Domengeaux.
This is the second investment fund led by Lafayette General Health. The first fund, Healthcare Innovation Fund, began in 2016 and it invested in seven companies, five of which are headquartered in Louisiana. Of note, the investment in NeuroRescue resulted in relocation of the company from Columbus, Ohio to Lafayette. Another investment, HealthLoop, was acquired in late 2018 by GetWell Network.
“Ochsner embraces innovation systemwide, particularly through our innovation company, innovationOchsner. We consistently partner with like-minded organizations to find new and better ways to change and save more lives,” says Ochsner Health System President and CEO Warner Thomas. “We are excited to work with LGH and participate in HIFII to bring more cutting-edge health modernization to the Acadiana region and beyond. Smart innovation can change the way we deliver healthcare for the better, which is why we support the entrepreneurial community and continue to make investments in digital health.”