Providence Ventures launches $150 mln healthcare venture fund

Providence Health & Services has launched a $150 million venture capital fund focused on healthcare.

[contextly_sidebar id=”qyeF01OWkC7mJzyvAY7NzNmZF3eQWgmT”]The new vehicle, Providence Ventures, will target early- to mid-stage companies that focus on six core areas: online primary care access, care coordination and patient engagement, chronic disease management, clinician experience, data analytics and consumer health and wellness services.

The team is led by Aaron Martin, senior vice president of strategy and innovation. Martin joined Providence in early 2014 from Amazon, where he built the self-publishing and print on demand business and led content acquisition for the Kindle unit’s North American trade publishing business.

Providence Health & Services is a not-for-profit Catholic health care ministry committed to providing for the needs of the communities it serves. Providence’s services include 34 hospitals, 475 physician clinics, senior services, supportive housing, hospice, home health and many other health and educational services. In 2013, Providence provided more than $951 million in community benefit, including $313 million in free and discounted care for those who could not afford to pay for care.

Image courtesy of Shutterstock