Healthbox, a Chicago-based business that started life as a digital health startup accelerator seven years ago before evolving into a consulting and fund management business has been acquired by HIMSS just days before the organization’s annual health IT conference, according to a blog post by Healthbox President Neil Patel.
Healthbox will operate as a subsidiary of HIMSS, according to Healthcare IT News, which is part of HIMSS Media.
“When we spun out of Sandbox Industries in 2014 and brought in strategic partners like Intermountain Healthcare and Healthcare Services Corporation (HCSC), we evolved from a healthcare technology accelerator into the innovation consulting and venture fund management firm we are today,” Patel said.
It’s a logical move for HIMSS since the deal will enable the organization to offer guidance to hospitals. As Healthcare IT News noted, that could include finding apps and capabilities or deciding where to make investments in an internal team to commercialize a product.
Healthbox’s business also involves working inside organizations to develop programs and to assess the commercial potential of projects.
“Healthcare organizations look at us asking if we can help them think through concepts around digital health or how to bring innovation into their systems,” Hal Wolf, HIMSS CEO, told Healthcare IT News.
Patel said Healthbox has partnered with over 160 healthcare technology start-ups worldwide. It continues to function as a conduit between healthcare organizations and its network of startups through the Healthbox Studio program.
Healthbox has also partnered with Intermountain Healthcare on the Foundry entrepreneurship program. Its work with Intermountain also led to the Intermountain Innovation Fund. Patel said the fund has invested in seven startups across interoperability, precision medicine, patient access, and artificial intelligence.
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