Safeguard Scientifics has hired a a venture partner with a background steeped in early stage healthcare IT and technology companies. It’s the first addition following the venture firm’s restructuring plans announced last month.
Albert Wiegman comes from HLM Venture Partners in Boston. Among the portfolio companies where he served on the board were Soteira, Linkwell Health, Spinal Kinetics, and Transcend Medical.
Wiegman will work with Gary Kurtzman, Phil Moyer and Erik Rasmussen as senior members of the deal team and report to CEO Stephen Zarrilli.
Behavioral Health, Interoperability and eConsent: Meeting the Demands of CMS Final Rule Compliance
In a webinar on April 16 at 1pm ET, Aneesh Chopra will moderate a discussion with executives from DocuSign, Velatura, and behavioral health providers on eConsent, health information exchange and compliance with the CMS Final Rule on interoperability.
Last month, Jim Datin resigned after eight years with Safeguard. It’s part of a reorganization strategy to create a flatter structure to improve efficiency for deploying capital and making exits. In addition to hiring a managing director-level deal team member with a healthcare/venture background, the company has said it plans to hire one to two associates to support its technology and healthcare deal team.
The changes come at a time when venture investment in healthcare and life sciences has been shifting. In a report earlier this year, John Taylor, head of research for the National Venture Capital Association said the venture industry has been raising less capital than it has been investing for several years. That in turn has led to lower investment levels. Investment in health IT businesses has accelerated because there’s more deal flow. By contrast, venture capital firms have been pulling back from early stage investment in medical device and biotech, according to data from the National Venture Capital Association.
