La Palma, Calif. & Nashville, Tenn. – The Innovation Institute announced today that it has acquired controlling interest in Nashville-based TriStar Health Partners, LLC, to advance its healthcare-focused investment management platform, the critical third element of The Institute’s business model.
By helping to grow early-stage healthcare and life science companies, TriStar Health Partners aims to deliver transformative new products and services that will increase value and improve outcomes for patients, similar to what it has done in its previous investment funds.
The TriStar Health Partners’ team has a successful track record that has helped create and grow 23 innovative healthcare companies. The TriStar principals have been successfully investing in early-stage healthcare and life sciences companies since 2002.
TriStar’s team includes Harry R. Jacobson, M.D.; Brian Laden, Ph.D.; and Christopher Rand, CFA; who were all co-founders of TriStar Technology Ventures and will manage the new healthcare-focused investment management company with principals from the Institute. Prior to co-founding TriStar, Dr. Jacobson was Vice Chancellor for Health Affairs at Vanderbilt University and the CEO of Vanderbilt University Medical Center, where he worked with Rand and Laden to maximize the value of Vanderbilt intellectual property.
“Merging the investment management expertise of the TriStar principals with the novel network of hospital partners embodied by The Innovation Institute will create a powerful new investment platform to support family offices, institutions and others seeking to grow companies and improve the lives of patients,” said Rand. He added, “This partnership with The Innovation Institute is unique in its design and structure, and we intend for our portfolio companies and investors to benefit from this relationship.”
According to The Innovation Institute’s President and CEO Joe Randolph and Chief Investment Officer Barry Didato, they will work “hand-in-glove” to support the new management company. Randolph said, “We anticipate that this partnership will be an exciting platform to support those seeking to bring transformational healthcare solutions to the forefront on behalf of investors, innovators and patients.”
Dr. Jacobson said, “On behalf of our team, we are excited to be working with The Innovation Institute to invest in transformative companies that will significantly impact the evolving healthcare industry.”
About TriStar Health Partners TriStar Health Partners is comprised of a team of successful investors, entrepreneurs and healthcare innovation experts. Together they serve investors and help manage the TriStar family of funds, including TriStar Health Fund III, which helps grow companies across the spectrum of healthcare innovation: life sciences, diagnostics, medical devices and technologies, healthcare IT and healthcare services. For more information, visit www.tristarhealthpartners.com.