BRENTWOOD, Tenn.--(BUSINESS WIRE)--LifePoint Health, a leading healthcare company dedicated to Making Communities Healthier®, has announced a joint venture with New York-based venture studio 25madison and Apollo Global Management (NYSE: APO) that will be seeded initially with $20 million to launch a first-of-its-kind healthtech startup incubator in Nashville, called 25m Health. The venture studio will be the central innovation engine for building new companies that bring innovative ideas and solutions to fruition for LifePoint communities and beyond.
The launch of 25m Health is part of LifePoint Health’s strategy for driving innovation. “LifePoint Forward” represents existing and new capabilities to identify, invest in and deploy solutions to improve quality, access and patient outcomes while lowering costs.
“I am incredibly proud to establish LifePoint Forward as a key pillar of LifePoint’s growth and community healthcare investment strategy. We’ve built a robust infrastructure to develop and invest in new ideas, partnerships and technologies—all focused on meeting patient needs, driving growth and advancing our mission of Making Communities Healthier. Prior to today’s unveiling, we’ve had successes with LifePoint Forward, partnering with companies that are positively disrupting the healthcare ecosystem,” said David Dill, president and chief executive officer (CEO) of LifePoint Health. “When we met the 25madison team, it was clear that they had the experience, capabilities and shared vision to accelerate our work. Our 25m Health venture allows us to expand beyond investing in existing capabilities to also incubating and building businesses that can benefit LifePoint, our communities, and the broader healthcare delivery system.”
25m Health combines the business-building acumen of 25madison, a leading venture studio and innovation hub, with LifePoint’s healthcare expertise to develop businesses that solve challenges, eliminate barriers and enhance the delivery of high-quality care. The studio provides the necessary resources, network and capital to help support and facilitate the growth of young and promising healthcare businesses.
“We believe there is no better place for 25m Health to be based than in Nashville, the epicenter of the healthcare industry, as it provides an unmatched strategic advantage for the entrepreneurs we support,” said Steven Price, co-founder and CEO of 25madison. “Together with LifePoint, we are excited to begin cultivating innovative businesses and ideas that improve access to high quality care; use technology to enhance the delivery of care across the healthcare continuum; and support the continued evolution toward value-based care.”
Through 25m Health, entrepreneurs partner with experienced business builders who know what it takes to create thriving companies, and with healthcare leaders who deeply understand the challenges of the healthcare industry and the evolving needs of patients. Affiliated start-ups have a unique opportunity to rapidly deploy and scale tech-enabled solutions across a strong network of community hospitals and associated sites of care; drive operational improvements; and meaningfully improve health outcomes for patients.
An initial council of senior advisors has been assembled to help guide the strategic direction of 25m Health and is comprised of:
- Chris Altchek: Founder & CEO, Cadence
- Tara Bishop MD, MPH, FACP: Founder & General Partner, Black Opal Ventures
- John Chadwick: Partner, Claritas Capital
- Sahil Choudhry: Co-Founder, Stealth-mode Startup; Former Managing Director, Cigna Ventures
- Chris Sakalosky: Managing Director, Healthcare & Life Sciences, Google Cloud
- Dawn Whaley: President & Chief Marketing Officer, Sharecare
- Zach Zaro: Former CTO, Maven Clinic; Former CTO, quip
In addition to 25m Health, LifePoint has invested in the following digital health capabilities through LifePoint Forward:
- Eon, which has established a five-year agreement with LifePoint to develop the “Healthy Person Program.” The program pairs evidence-based follow-up with a first-of-its kind approach to identifying and tracking patients with incidentally discovered abnormal findings. It allows for earlier diagnosis and treatment of potentially catastrophic diseases.
- Cadence, a new healthtech company that has established a founding partnership with LifePoint and built a breakthrough remote care management platform that is delivering enhanced care to people managing chronic conditions at scale, aiming to support over 100,000 LifePoint patients.
- Loyal has established a five-year partnership with LifePoint in which the company is the first to deploy a new platform that provides every patient with individualized guidance to get connected with the best care, combining consumer insights with healthcare systems’ operational capabilities and workflows.
“All of these partnerships are enabling us to provide even better care for our patients across the country, and we are eager to continue to explore new opportunities to further improve the work we do and build on the momentum of LifePoint Forward,” Dill said.
About LifePoint Health
LifePoint Health is a leading healthcare company dedicated to Making Communities Healthier®. Through its subsidiaries, it provides quality inpatient, outpatient and post-acute services close to home. LifePoint owns and operates community hospitals, regional health systems, physician practices, outpatient centers and post-acute facilities across the country. LifePoint is owned by certain funds managed by affiliates of Apollo Global Management. More information about the company can be found at www.LifePointHealth.net.
25madison is a Venture Platform, building companies from the ground up and investing in early-stage startups. 25madison consists of the 25madison Studio, incubating and building companies, 25madison Ventures, investing in early-stage businesses, and 25m Health, building and investing in healthtech.
25madison partners with top entrepreneurs. Through branded experiences, a collaborative approach, and a deep skillset across all business needs, 25madison turns high-conviction ideas into big businesses. Find out more at 25madison.com.