In the News

Orange County Business Journal | Innovation Institute Adds Exec Search Firm

Innovation Institute LLC in La Palma has acquired Summit Talent Group, a healthcare industry executive compensation and search firm in Columbia, Md. Innovation Institute develops healthcare products and services under three units: a medical devices and technology lab, an investment fund, and a division that buys firms providing services that include healthcare construction, staffing, and…

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CIO | How Virtual Reality Changes Health Care

Until recently, Virtual Reality (VR) has only really been seen as a technology for the gaming and entertainment industries. However, given recent advancements, this immersive, 3D experience of space and geometry is no longer just for fun. According to Bloomberg, some of the world’s biggest tech companies have invested over $4 billion in virtual and…

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Orange County Register |Real Estate Briefly: HPA Realty

A medical office building was purchased in Fullerton for nearly $7.4 million. The property, at 101 Laguna Road, is adjacent to St. Jude Medical Center. HPA Realty represented the buyer. The purchase was made using HPA’s Growth Fund. The fund is managed by Healthcare Property Advisors and capped at $1 billion. HPA was the building’s…

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Becker’s Health IT & CIO Review | Ensuring 24/7 Excellence in the Technological Tools of Patient Care

Tech Knowledge Associates (TKA), a subsidiary of The Innovation Institute that provides insourced biomedical engineering services to hospitals, has been experiencing steady growth due to its popularity as a cost-saving operations strategy. Over the past several years, TKA has helped health systems save millions of dollars through expense reduction, while improving service levels. TKA provides…

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UKFundraising | Buying a Stairway to Heaven

A growing number of philanthropists are earmarking portions of their “get into heaven” money towards new investment vehicles offering perpetual impact in causes they believe in and that will build lasting legacies for their efforts. Daring to be different, these philanthropists subvert the dominant paradigm of contributing to long-standing charities in favor of new impact…

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Becker’s Hospital CFO | Buying a Stairway to Heaven

By Barry Didato | A growing number of philanthropists are earmarking portions of their “get into heaven” money towards new investment vehicles offering perpetual impact in causes they believe in and that will build lasting legacies for their efforts. Daring to be different, these philanthropists subvert the dominant paradigm of contributing to long-standing charities in…

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CIO | How Healthcare is Handling a Flood of Advancements

  Hang on tight! The world of healthcare is changing fast. Learn how health systems are managing their current trajectories of prolific innovation through leadership and technology. Today, we are seeing newer, more cutting-edge medical procedures and products. We are experiencing a changing world that calls for exponential advancement in health care. We are approaching…

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Today’s Medical Developments | Tech Knowledge Associates’ New Leadership

La Palma, California – The Innovation Institute introduced two executive leaders of its biomedical engineering firm Tech Knowledge Associates (TKA). George Hampton will serve as president and Jeffery Niederhausen will serve as chief financial officer. Both served in clinical engineering for Catholic Health Initiatives (CHI). Hampton will be based in Dayton, Ohio, and Niederhausen will…

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Orange County Catholic | Smart Thinking

More than 90 juniors and seniors and 10 teachers from Santa Ana’s Mater Dei High School got a hands-on experience about what it’s like to be an inventor on April 4, when they visited the Innovation Lab in Newport Beach. Working in small teams, they designed and built mini prototypes of a medical-related product, then…

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Orange County Catholic | Mater Dei Attends Innovation Day

The Innovation Institute hosted an Innovation Day for 80 Mater Dei High School students and 10 teachers recently at its Innovation Lab in Newport Beach, Calif. Lab staff presented workshops to help students and their teachers find the “innovator inside.” They were given instruction on how to design and build ideas, and were guided through…

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TechNation | The Innovation Institute Adds to Portfolio

MultiMedical Systems (MMS), a California-based clinical engineering service company, was introduced recently as the Innovation Institute’s newest addition to its portfolio of health care service companies. “Choosing to join the The Innovation Institute was an easy decision for us,” said MMS President Daren Kneeland. “The wealth of knowledge and resources that come with being a…

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CIO Magazine | Living and Breathing Innovation

  I’ve noticed that many organizations across industry sectors have innovation in their mission statement and core values. Yet, what’s often missing is a meaningful program with dedicated resources to guide and empower a culture of innovation. What you end up seeing is unstable adjunct programs that go away the minute there’s a budget cut. Recruiters…

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Health Facilities Management | Leading the Charge to Deliver Innovation

Joe Randolph, president and CEO of the for-profit Innovation Institute, La Palma, Calif., talks about the formation of the organization and how it’s diving headlong into helping health system professionals bring transformational products to market. How did the Innovation Institute get started? About four years ago, while I was chief operating officer of St. Joseph…

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Orange County Catholic | New Ideas in Health Care — Really

THE INNOVATION INSTITUTE SEEKS TO BREAK MOLDS WITH NEW PRODUCTS AND SOLUTIONS By Nicole Gregory     2/12/2016 Sunlight pours through large windows, some of which overlook the Pacific Ocean. Groups of people are gathered at wide tables, engaged in discussion or watching large video screens in the bright office rooms. Surfboards are propped up in corners,…

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CIO | Concentric Use of Information–The Three P’s of Big Data

The health care industry has a lot to gain from the fruits of big data. There’s more potential than ever before as we begin to analyze and use the wealth of data that is available to us today. Careful and timely collection of massive data as it relates to person, place, and population can reveal…

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Design News | Hurdling Development Obstacles on the Way to Transformative Medtech

Medical device innovation has steadily progressed as our understanding of disease states has deepened. However, device development still faces significant challenges. From concept to commercialization, advancing medical devices through to commercialization is risky business. The “runway” before takeoff can easily last five to seven years. Sizable amounts of time and resources are necessary to navigate…

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Becker’s Hospital Review | Avera Joins The Innovation Institute

Sioux Falls, S.D.-based Avera Health is the latest health system to join The Innovation Institute, an independent, for-profit organization based in La Palma, Calif. Avera Health is the fifth member of The Innovation Institute. The Innovation Institute features a unique business model where hospitals and health systems become investors of the organization. As members/investors, the…

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Orange County Business Journal | Celebrate Health, Celebrate Life

 Celebrate Health, Celebrate Life   More than 500 guests attended Celebration 2015, St. Joseph Hospital’s annual fundraising gala. Community supporters, business leaders, and guests gathered at the Newport Beach Marriott Hotel & Spa on Oct. 17 to take part in an evening of silent and live auctions, raffle drawings and fine dining with live entertainment…

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Newport Beach Magazine | Movers and Shakers

Meet Larry Stofko, One of Newport Beach Magazine’s Most Influential People of 2015 By Kirsti Correa, Allison Hata, Kristin Lee Jensen and Sharon Stello | Photos by Jody Tiongco By definition, “to influence” has a few nuanced meanings—for our purposes, it’s the power to affect someone or something. The nine people selected this year by Newport…

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Quick Leonard Kieffer Feature | Simple Solutions Through Innovation

We live in a world where innovation is all around us. Whether it is an idea, a new product, a new service, or a new method, innovation drives the development of solutions that, if successful, will ultimately eliminate problems, regardless of nature or size. The Innovation Institute, located in La Palma, California, is an independent,…

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