Spinout companies address critical health system needs
MENLO PARK, Calif.--(BUSINESS WIRE)--#Health2047--Health2047 Inc., a Silicon Valley business-formation and commercialization enterprise launched by the American Medical Association (AMA), demonstrated continued momentum in the first half of 2020, highlighted by the launch of its fourth spin out company, Medcurio, the announcement of significant follow-on investment in its third spin out, Zing Health, and important additions to both the company’s senior leadership and its advisory board.
“Health2047’s strong business momentum continues as we and our strategic partners develop and commercialize system-level solutions in four areas: chronic care, data utility, radical productivity and healthcare value,” said Health2047 CEO Lawrence Cohen. “We continue to find, form and scale the companies needed to transform U.S. healthcare at the system level, and expect to announce more spinouts in the second half of 2020.”
In Q1, Health2047 launched Medcurio, a startup company providing an instant-data-access solution that simplifies insight extraction and allows healthcare organizations to harness the full value of their data quickly and efficiently while protecting patient data privacy. With a mission to liberate health data from inertia for real-time action, Medcurio’s founding team combines extensive market and technology experience under the leadership of Geisinger and Sutter Health veteran Buzz Stewart, and seasoned health system experts Kristen Wilson-Jones, Colin Parker and Christa Bruce.
In Q2, Health2047’s third spin out, Zing Health, secured significant follow-on investment—up to $150M—from Newlight Partners, a private investment firm headquartered in New York with approximately $4 billion in capital commitments and assets under management led by David Wassong and Ravi Yadav. Founded and launched in 2019 by Health2047 and two physician-investors—former Illinois Department of Public Health Director and TWG Partners founder Dr. Eric Whitaker and orthopedic surgeon and founder of health care investment firm HartHaven Partners, Dr. Ken Alleyne—Zing Health offers a Medicare Advantage plan currently serving Cook County, Illinois built around community and member health outcomes for underserved populations.
Health2047 also participated in a $2M follow-on investment in the company’s second spin-out company, First Mile Care, alongside Health2047 Capital Partners. The First Mile platform enables personalized support and guidance at the community level, giving people access to the coaching, tools, and resources they need to live better, healthier lives and reverse health conditions like prediabetes.
The Health2047 team also welcomed Judy Barkal as a managing director in Q2. She brings impressive experience in strategy, innovation, and complex business and technology transformation. Prior to joining Health2047, Barkal served as M2Gen’s Chief Technology/Medical Informatics Officer where she led the collection and harmonization of clinical data across the ORIEN network of cancer centers. Previously, as Head of Information Strategy and Innovation at Oregon Health and Science University’s Knight Cancer Institute, Barkal led the creation of a clinical data repository integrated with genomics data to serve multiple cancer researchers and programs. As a partner at IBM Global Business Services, she led complex delivery strategy, launched Systems Engineering Centers of Excellence and implemented transformations globally in the healthcare, financial services, transportation, energy, retail and consumer electronics industries. Barkal is also member of the IEEE working group on Clinical IoT Data and Device Interoperability.
Additionally, Dr. Robert Wah was appointed to Health2047’s advisory board. Wah comes with a strong track record in healthcare, information technology, advocacy and strategic development across public and private sectors, and previously served as president of the American Medical Association and Chair of the AMA board of trustees. For over 12 years, Wah was Global Chief Medical Officer at CSC (DXC). He also spent 23 years on Active Duty in the U.S. Navy, was the Associate CIO for the Military Health System, and served as the first Deputy National Coordinator for Health IT at the U.S. Department of Health and Human Services (HHS). Wah helped to establish the Office of the National Coordinator for Health IT (ONC) and was Chief Operating Officer. He was also Vice Chairman of the Navy’s largest OB/GYN department and has served on the faculties of Harvard Medical School, University of California at San Diego, and the Uniformed Services University of Health Sciences. Wah did his clinical work at the National Institutes of Health and Walter Reed National Military Medical Center in Bethesda, Maryland.
Health2047 Inc. is a Silicon Valley business formation and commercialization enterprise committed to finding, forming and scaling the companies needed to transform U.S. healthcare at the system level. The company’s specific areas of focus include chronic disease prevention, data utility, radical productivity enhancement, and value-based payment. Health2047’s deep relationships with both the American Medical Association and its network of strategic partners create a unique force multiplier that helps drive large-scale changes in healthcare. For more information, please visit http://health2047.com.