The California HealthCare Foundation Invests in CareInSync
More than $2.5 million invested in six health care innovators
June 12, 2012
Today the California HealthCare Foundation (CHCF) announced a $500,000 investment in CareInSync through the CHCF Health Innovation Fund, which supports businesses that have the potential to significantly lower the total cost of care or substantially improve access to care.
The fund is led by the foundation’s Innovations for the Underserved program, which seeks to accelerate development of innovations that change the way health care is organized and delivered — with the goal of lowering health care system costs and improving access for the underserved. Since the fund launched in November 2010, CHCF has invested more than $2.5 million in the following health care services, technologies, and devices:
CareInSync, a care collaboration company that provides mobile technology and proprietary software to help providers coordinate safe and timely transitions between health care settings.
Pipeline Healthcare, a clinical telepharmacy company that reduces an acute care hospital’s operating costs and improves their clinical quality via remote medication order processing and real-time pharmacist verification services.
Direct Dermatology, a telemedicine company that uses digital photography to enable same-day and next-day consultations by board-certified dermatologists.
Asthmapolis, a technology company that uses medication sensors, mobile applications, advanced analytics, and feedback to help physicians identify those patients who need more help controlling their asthma.
SIRUM, a nonprofit that uses an online community portal to connect safety-net clinics with donated drugs from manufacturers, wholesalers, and nursing homes.
Lifewave, an eHealth device company that is developing a non-invasive, monitoring technology for both prenatal and neonatal application in clinical and remote settings.
“The foundation is looking to promote sustainable, scalable innovation that can dramatically lower cost and improve access to care for underserved populations,” said Margaret Laws, director of the Innovations for the Underserved program. “Through our investment fund we seek to support technologies, products, and services that will provide access to care to 100,000 Californians or deliver $25 million in annual cost savings, or both. The fund complements our grantmaking program by allowing us to partner with mission-focused entrepreneurs and companies using debt and equity investments.”
The California HealthCare Foundation plans to invest $10 million through the CHCF Health Innovation Fund over three years. To learn more about the specific investments highlighted above, review the fund’s investment criteria, or apply, visit www.innovations.chcf.org.
About the California Health Care Foundation
The California Health Care Foundation is dedicated to advancing meaningful, measurable improvements in the way the health care delivery system provides care to the people of California, particularly those with low incomes and those whose needs are not well served by the status quo. We work to ensure that people have access to the care they need, when they need it, at a price they can afford.