July 2007
Ascension Health Contact:
Trudy Barthels
Director, Communications
314.733.8207
tbarthels@ascensionhealth.org
In its most prolific year since formation in 2001, Ascension Health Ventures (AHV) closed investments in four new portfolio companies. The new companies are in the device and service sectors and complement AHV’s diversified portfolio. Upon closing these investments, AHV’s $125 million fund is now fully invested, committed and reserved. Resources will no be dedicated to managing the remaining portfolio through exit and focusing on closing and investing the next fund, a $200 million limited partnership that will include other Catholic health systems along with AHV’s parent, Ascension Health.
Interventional Spine is an early stage developer of a spinal device platform that enables percutaneous approaches for spinal fusion and dynamic stabilization procedures. Unlike other minimally invasive surgical spinal procedures which require open incisions and tissue dissection, the Interventional Spine procedures can be performed through 15mm incisions with no tissue dissection. This approach benefits patients, surgeons, payers and hospitals due to shorter recovery times, reduced operating time and reduced operating room costs.
Isto Technologies is a St. Louis-based early stage developer of orthobiologic products for sports medicine and spinal therapy applications. Its proprietary platform technology is the basis for three products in development pipeline to repair and regenerate damaged tissue in knee joints and spinal discs. The company’s lead product, Neocartilage to be marketed as “DeNovo ET”, is a scaffold-free living cartilage graft grown from juvenile cartilage cells. Isto has an exclusive license for this technology from Washington University Medical Center at Barnes-Jewish Hospital of St. Louis and is being developed in collaboration with Zimmer Holdings, Inc. Two other products in the pipeline include NuQuTM, an injectable from of cartilage cells for nucleus regeneration in the spine and In QuTM, a scaffold made from hybrid biomaterials intended for tissue repair and bone regeneration.
Millennium Pharmacy Systems is a mid-stage provider of pharmaceutical management services to the long-term care industry. Developed by nurses for nurses, the system was designed to be a complete solution combining proprietary software, bar coded prescription packaging and handheld bar code scanning devices to virtually eliminate medication errors while reducing cost and liability.
United Surgical Partners International operates ambulatory and short-stay surgical facilities in the United States and owns private hospitals in Europe. It represents a unique combination of business interests that involves leveraging particular expertise, the management of surgical services, across a wide playing field.
About Ascension Health Ventures
Ascension Health Ventures, LLC (www.ascensionhealthventures.org) was launched in 2001 as a wholly-owned subsidiary of Ascension Health. AHV’s role is to construct and manage a strategic portfolio of investments that deliver a venture investment return, have the potential to transform the healthcare industry and significantly enhance the quality of patient care.
About Ascension Health
Consistent with its mission to serve all people with special attention to those who are poor and vulnerable, Ascension Health (www.ascensionhealth.org) is an innovative leader in transforming healthcare through patient-centered, holistic care of the highest clinical quality, and provided $703.9 million in care of persons who are poor and community benefit last year. Ascension Health is the nation’s largest Catholic and nonprofit health system, with more than 100,000 associates serving in 20 states and the District of Columbia. Ascension Health includes 76 hospitals and other related healthcare facilities.
About Interventional Spine
Interventional Spine, Inc., located in Irvine, CA (www.i-spineinc.com), designs, develops and markets patented implantable devices for the spine that can be deployed via percutaneous techniques, supported by unique Interventional Spine product introduction systems. Its products provide benefits to patients, surgeons, hospitals and payors.
About Isto Technologies
Isto Technologies, Inc. (www.istotech.com) is an orthobiologic company focused on developing differentiated products for sports medicine and spinal therapy. The Company's cell-based platform technology will generate potential products that team with the body's resources to heal, regenerate, and restore function to damaged cartilage. ISTO's cartilage regeneration products are designed for delivery through minimally invasive procedures.
About Millennium Pharmacy Systems
Millennium Pharmacy Systems (www.mpsrx.com) is a pioneer in the field of medication management systems for the long term care industry. The company utilizes advanced information handling technologies and informatics-driven logistics to provide a virtually error-free environment for managing and administering medications for residents of nursing home facilities.
About United Surgical Partners International
United Surgical Partners (www.unitedsurgical.com) owns and operates surgery centers and private surgical hospitals in the United States and the United Kingdom. The Company focuses on providing surgical facilities that meet the needs of patients, physicians and payors better than hospital-based and other outpatient surgical facilities. The Company's facilities are designed to enhance the quality of care and the healthcare experience of patients; offer significant administrative, clinical and economic benefits to physicians; and offer an efficient and low-cost alternative to payors. The Company acquires and develops its facilities through the formation of strategic relationships with physicians and healthcare systems to better access and serve the communities in its markets.
© Ascension Health Ventures