By Jackie Drees
The Innovation Institute formed a partnership with healthcare artificial intelligence company Olive to focus on developing new clinical technologies for healthcare providers, according to a July 6 news release.
The Innovation Institute has six health system member owners, including MultiCare as the newest member owner. They also work with Renton, Wash.-based Providence, which is a subscriber.
By teaming up with Olive, the Innovation Institute’s healthcare incubator plans to collaborate with the AI company on technologies and pilots to scale across the health systems’ member networks and Olive’s client base.
The Innovation Lab and Olive already are evaluating about five ideas for co-development and will share revenue from co-developed technologies that are brought to market. The lab’s business model includes sharing its commercialization revenue with the Innovation Institute.
The Innovation Institute’s six member owners:
- Avera Health (Sioux Falls, S.D.)
- Bon Secours Mercy Health (Cincinnati)
- CHOC Children’s (Orange, Calif.)
- Franciscan Missionaries of Our Lady Health System (Baton Rouge, La.)
- MultiCare (Tacoma, Wash.)
- Valley Children’s Healthcare (Madera, Calif.) More…