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Cedars-Sinai, MemorialCare Health partner in new healthcare technology fund

Los Angeles Times, May 8, 2014

Cedars-Sinai Health System and MemorialCare Health System are joining forces to form a venture-capital fund aimed at developing healthcare technology. The collaboration -- which will be called Summation Health Ventures -- will be based in Long Beach, Cedars-Sinai and MemorialCare said in a statement Wednesday. Investments will target healthcare start-ups with potential for revenue growth and offering products that could succeed in the market. The fund "provides a valuable gateway for entrepreneurs to develop, refine and advance product development," the statement said. Brant Heise, Summation's managing director, said the fund will give innovators access to both Cedars-Sinai's and MemorialCare's medical and technological know-how.