The former Cleveland Clinic CEO will advise the New York-based medical technology private equity firm.
Delos M. "Toby" Cosgrove, MD, former CEO of Cleveland Clinic, has joined InnovaHealth, a New York-based medical technology private equity firm, according to a press release Wednesday morning.
Tim Berkowitz, CEO of InnovaHealth, said Cosgrove will "augment" the company's investment pipeline, "add value" to its portfolio companies, and "cement" strategic relationships in the medical technology industry.
Cosgrove, who served as the health system's CEO from 2004 to 2017, said he was pleased to join InnovaHealth in a statement.
"This is a uniquely qualified private equity firm investing in proven medical technologies that advance clinical outcomes, simplify surgeries and lower the costs of healthcare delivery," Cosgrove said. "This is a much-needed activity in the healthcare world and the InnovaHealth investing approach is a win-win for patients, clinicians and investors alike."
InnovaHealth is not the only company Cosgrove has joined as an advisor since leaving the clinic two years ago.
In June 2018, Cosgrove joined the board of RxRevu, a Denver-based health information technology company. One month later, Cosgrove joined Google as an executive advisor to its Cloud Healthcare and Life Sciences Team.
Jack O'Brien is the finance editor at HealthLeaders, a Simplify Compliance brand.
Photo credit: Weston, Florida/USA - October 03, 2019: Cleveland Clinic Florida - Weston Family Health Center. Dramatic sky. - Image / Editorial credit: Yaroslav Sabitov / Shutterstock.com