These 10 systems join five other health systems that previously announced partnerships with General Catalyst. Those five companies are Nashville-based HCA Healthcare, Philadelphia-based Jefferson Health, Salt Lake City-based Intermountain Health, York, Pennsylvania-based WellSpan Health and Guy’s and St Thomas’ NHS Foundation Trust based in London.
General Catalyst will act as an “advisory body” for these 15 organizations and grant them access to the companies in its expanding digital health portfolio. According to Marc Miller, CEO of UHS, after each organization works directly with General Catalyst, the 15 systems will create an ecosystem and learn from each other.
“A lot of people talk about bringing technology into our healthcare and working in our space, but nobody has really been able to do it in the large-scale, efficient way I thought it would,” Miller said. General Catalyst is the right fit to do.” he has great confidence in Hemant Taneja, CEO of General Catalyst.
“I have a track record of working with [Taneja] over the past five years,” Miller said. “I know him personally and I believe his vision through this partnership will be a reality rather than just a sales pitch from another VC or private equity firm. “
No financial terms are attached to these partnerships. Scott Nordlund, director of strategy and growth at Banner Health, said his organization does not have to invest in or use any specific portfolio company from General Catalyst.
Nordlund said General Catalyst and Banner are “both betting as partners that we will look for a reasonable opportunity to invest together.” “But no target was given to us that we had to hit.”
Like Miller, Dr. David Lubarsky, CEO of UC Davis Health, said he was impressed with Taneja’s vision of ensuring health and creating an integrated ecosystem.
“We believe they have the right philosophy as a partner,” says Lubarsky. “We used some of their apps. Perhaps there is some information that we can collaborate and develop applications together in the future, so they serve not only the basic needs of an organization but a complex organization like our office.”
Download the Modern Healthcare app to stay up to date with industry news.
The goal in General Catalyst’s view is to bring disruption to those health systems, Taneja said in a previous interview. He said health systems must disrupt their own business models and work together to achieve health-assurance goals, including improving preventive care, reducing costs and increasing outreach. close.
General Catalyst closed a $670 million health-focused fund in August.
Nordlund said he appreciates having an outside partner like General Catalyst to give his perspective on where an integrated health system like Banner can improve efficiency and the patient experience. He said General Catalyst can also help screen the hundreds of digital health companies that reach out to him.
“They were able to capture the open world of innovative companies and then turn them into an easy-to-manage group that could be directly applied to the challenges we faced,” says Nordlund. , “It’s a much more efficient approach to innovation.”
Along with the partnership with the health system, General Catalyst has attracted major executives to the company. Marc Harrison, former CEO of Intermountain, has announced that he will be leaving Utah’s largest system in August to run a new, unspecified healthcare company for General Catalyst. And Dr. Stephen Klasko, the former CEO of Jefferson, joined General Catalyst in February as chief executive officer at the residence.
Alex Kacik contributed additional reporting to this story
