In the News

Innovation is a word that frequently instills fear into leadership. Innovation means new and new is synonymous with change and risk. Managing risk frequently tops the governance priority list, whereas discussions about innovation often go by the wayside. As healthcare organizations look to become sustainable and continue to grow in this highly volatile and complex…

LA PALMA, Calif. – Petra Integrated Construction Strategies has a new white paper available: Changing Dynamics of Medical Office Space – Perspective on Market Influences that are Driving Change, which provides perspective as to the history of medical office development post WWII leading up to trends, strategies and tools influencing disruptive innovation. Planning concepts to…

By Brian Kolski, M.D., FACC |  As a cardiologist practicing at the Orange County Heart Institute and St. Joseph Hospital in Orange, my mission is to positively impact heart health and quality of life for people, not only in my community, but around the globe. Nothing is more satisfying than helping a patient with education,…

HPA Realty Inc. in Brea purchased approximately 195,000 square feet of industrial and medical offices at 2727 and 2767 Imperial Highway for $47.3 million. Fullerton-based St. Jude Medical Center is one of the anchor tenants. HPA will serve as the leasing and property manager for the Brea Imperial Centre. The investment was made through the…

HPA Realty, Inc. acquired roughly 195,000 square feet of industrial and medical office space within Brea Imperial Centre for $47.3 million. The properties are located at 2727 and 2767 Imperial Highway, with one of the anchoring tenants as St. Jude Medical Center. HPA’s James McGrade indicated the purchase was made through HPA’s Growth Fund, as…

By Larry Stofko | Rock and Roll Hall of Famer Jerry Harrison, most widely known as a songwriter, guitarist and keyboardist for the ’80s new wave sensations Talking Heads has co-founded an equity crowdfunding portal called RedCrow. Founded in November 2016, RedCrow’s mission is to help investors discover privately held, early stage start-ups in the booming…

Interview with Jean Snyder, DNAP, CRNA who took charge of patient safety with development of ERMA (Error Reduction and Mitigation Aide) The following is the third and final in a three-part series about inventor Jean Snyder, DNAP, CRNA, who shares about how she was inspired to take action to improve safety in high risk areas such…

Partners With Apothecary For Full CVS Launch By Sherry Hsieh | Innovation Institute, founded five years ago as an incubator to commercialize internal medical innovation by doctors, nurses and other hospital care providers in its six health system-owners network, has done exactly that. Its subsidiary Innovation Lab, in partnership with Apothecary Products LLC in Burnsville,…

Interview with Jean Snyder, DNAP, CRNA who took charge of patient safety with development of ERMA (Error Reduction and Mitigation Aide) The following is the first article in a three-part series about inventor Jean Snyder, DNAP, CRNA, who shares about how she was inspired to take action to improve safety in high risk areas such as…

The following is the second article in a three-part series about inventor Jean Snyder, DNAP, CRNA, who shares how she was inspired to take action to improve safety in high risk areas such as the OR, ED, and ICU. She tells us why her Error Reduction and Mitigation Aide is important and details her path…

La Palma, CA –  Today, the Innovation Lab, a subsidiary of The Innovation Institute, which serves as its health care incubator, announced the rollout of the CVS HealthTM Elevating Arm Sling, a custom-designed hand elevation support. In partnership with Apothecary Products, LLC, the Elevating Arm Sling is now available in CVS Pharmacy locations across the…

The developer of a new Lubbock hospital resulting from Covenant Health’s acquisition of Grace Health System was announced Thursday. Petra Integrated Construction Strategies, a subsidiary of The Innovation Institute, has announced its selection by Westwind Realty to serve as advisors and owner representatives for the development of a new hospital in Lubbock. The hospital will…

Part of doing more , with less, for more people With recent partnerships with GeneFolio, an affordable drug-drug-gene test and knowledge base that helps clinicians more accurately diagnose and treat patients based on how they metabolize certain medications; and 2bPrecise, which captures and disseminates genomic information, The Innovation Institute is geared up to disrupt health…

By Joe Randolph, President and CEO, The Innovation Institute | With recent partnerships with GeneFolio, an affordable drug-drug-gene test and knowledge base that helps clinicians more accurately diagnose and treat patients based on how they metabolize certain medications; and 2bPrecise, which captures and disseminates genomic information, The Innovation Institute is geared up to disrupt health…

A new initiative seeks to give clinicians access to a database that can inform them on which drugs might be the most effective in treating patient conditions, based on their genetic composition. The Innovation Institute and 2bPrecise, a wholly owned subsidiary of Allscripts Healthcare Solutions, have announced an agreement that will enable 2bPrecise to deliver…

Precision medicine is a hot topic at HIMSS18, and late in the week, multiple companies were making news in this field that many experts say is key to advancing the future of healthcare. At HIMSS18, 2bPrecise and The Innovation Institute announced that they entered into an agreement that lays the foundation for 2bPrecise to deliver…

Actionable insights to be delivered within providers’ workflow for exceptional genomic and clinical care for patients. HIMSS 2018 – LAS VEGAS – March 7, 2018 – 2bPrecise®, LLC, and The Innovation Institute announced today that they have entered into an agreement that lays the foundation for 2bPrecise to deliver a pharmacogenomics knowledge base to the…

By Sherry Hsieh Hospitals are tasked with making care more accessible, efficient and affordable. One way to do that is through health tech. La Palma-based Innovation Institute, a for-profit LLC owned by six nonprofit health systems, was founded five years ago as an incubator to commercialize internal medical innovation by hospital doctors, nurses and other…

Hope Builders, founded by the Sisters of St. Joseph of Orange in 1995, empowers disadvantaged young adults with the life skills and job training needed to achieve enduring personal and professional success. The project was a response to increasing gang violence, high youth unemployment, low high school graduation rates and rising teen pregnancy rates in…

For decades, the best executives were the specialists. Now, in the age of innovation, the ability to lead through disruption may be far more powerful. In the C-suite, we often hone in on the middle letter, the “X” in CXO. It’s what sets one role apart from another, denotes the person who works on finance…

By Stephanie Baum | Even for health systems and healthcare organizations that don’t have their own venture fund or accelerator, there is still an interest in being part of a larger network that offers an easier, vetted pathway to collaborate with innovative startups. Boston-based investment firm LRVHealth, formerly known as Long River Ventures, has partnered…

By David Raths | Former Premier exec Keith Figlioli joins investment team   Boston-based investment firm LRVHealth has launched an early-stage platform for digital health, medical devices and diagnostics, fueled by $100 million in venture capital. Partnering on the fund are more than 20 healthcare industry insiders and thought leaders, eight national healthcare systems and…

By Tara Bannow |  McLaren Health Care’s chief financial officer always asks himself the same question before throwing his system’s money into a healthcare venture: Is this something we’d use? “Why do you want to invest in a company with products that you have no desire to ever want to use?” Dave Mazurkiewicz said. In that…

RedCrow, an equity investing platform focusing on opportunities in medical technology, today announced a partnership with The Innovation Institute, an incubator for growing healthcare startups, to promote qualified companies within the sector. The partnership will give startups exposure to crowdsourcing and equity crowdfunding with direct access to RedCrow’s professional pool of investors. Co-founded by Brian…

  Hospital Topics, a quarterly journal that is the longest continuously published healthcare journal in the United States features an interview with The Innovation Institute President and CEO, Joe Randolph. Randolph mentions that some of the key characteristics that went into the forming of the Institute model are the following: Independent Financially viable or self-sustaining…

Craig Beam has been named as president of Petra Integrated Construction Strategies (Petra ICS), a subsidiary of The Innovation Institute. Beam has more than 40 years of experience as a thought leader in the healthcare real estate, planning, and construction industries. His work includes the development of hospital, medical office, and ambulatory facilities. In addition,…

Craig Beam has been selected as Petra Integrated Construction Strategies’ new president. Beam will join Petra ICS at the end of November, and will be based at Petra ICS headquarters in La Palma, California. For over 40 years, Beam has been a thought leader in the healthcare real estate, planning and construction industries. He has…

I have always loved science. As a kid, I collected bugs. As a college student, I shadowed doctors and studied autoimmune disease in the lab. My difficulty in separating emotion from the practical side of medicine eventually compelled me to pivot away from the bedside to the bench and pursue a Ph.D. in immunology. The…

Petra Integrated Construction Strategies Steps in to Help Santa Rosa Memorial Hospital’s Now-Homeless Fire Victims The Northern California wildfires in October 2017 destroyed thousands of homes and killed 42 people. In the aftermath, there are those who have stepped in to help. Todd Salnas, president of Santa Rosa Memorial Hospital and 152 staff, including more…

The Innovation Institute (La Palma, Calif.). The Innovation Institute came to fruition in 2013 as a for-profit limited liability company, and now encompasses 15 portfolio companies with revenues exceeding $200 million. The Institute’s mission involves developing solutions via collaboration and providing more care with fewer resources. The Innovation Institute comprises three elements: The Innovation Lab,…