Gary and Mary West, co-founders of the West Wireless Health Institute, announced the formation of a $100 million investment fund with a mission to lower health care costs.
The West Health Investment Fund LLC will provide risk capital for companies with health care technologies and services that offer the potential to substantially lower the cost of health care.
The West Health Investment Fund's initial portfolio includes:
* Biological Dynamics, whose next-generation diagnostics technology may enable physicians to detect cancer from a simple blood draw and rapidly intervene, increasing patient survivability while driving down the cost of care;
* Change Healthcare, whose web-based decision support tool Transparency Messenger provides consumers with personalized views of pricing information and alerts on where to save money on routine healthcare services including medical, dental and prescriptions;
* goBalto, whose new generation web-based solutions simplify pharmaceutical, biotechnology and medical device clinical research;
* Healthsense, whose in-home monitoring sensors and solutions alert family members and providers of potential health problems before they become acute, enabling seniors to remain healthy and independent;
* Humedica, a clinical informatics company whose cutting-edge analytics for health care organizations delivers a truly longitudinal and comprehensive view of patient care; and,
Sotera Wireless, whose new generation of continuous vital signs monitoring improves the safety of patients on the general floor of hospitals, while at the same time reducing costs.
The fund's areas of interest include health care technologies, data analytics, technology-enabled services, cost transparency, and interoperability.
The Wests will not individually profit from the investments made by the West Health Investment Fund, committing returns instead to medical research. The structure also differs from a traditional investment fund, as there are no management fees, there is no carried interest, and compensation for the management team is salaried.
The West Health Investment Fund targets primarily early stage opportunities with a strong preference for pre-commercial and early commercial companies. Its preferred investment candidates will value strategic partnership in addition to investment capital.