Healthbox Raises $7 Million To Expand Accelerator Program

2014-04-22_15-46-32

Chicago, Il.-based Healthbox announces that it has closed its own $7 million investment round, the first strategic investment raised by the health IT accelerator. The round was led by Intermountain Healthcare, with additional participation from Health Care Service Corporation, and Chicago Pacific Founders. Along with the investment round, Healthbox unveils a corporate restructuring that resulted in a new parent company, Healthbox Global Partners, LLC, now sitting atop the growing Healthbox business.

Since its founding in 2011, Healthbox has focused its efforts on expanding its health IT accelerator program. The company, which ran its inaugural class in January 2012, now runs five programs in Boston, Chicago, Nashville, Jacksonville, and London. Over the past two years, 50 startups have graduated from Healthbox programs. Healthbox has also signed corporate partnerships with 200 healthcare provider organizations interested in piloting, or otherwise supporting, new innovative startup technologies.

Healthbox will use the new funding to to expedite its planned growth, and add three entirely new business lines to the company portfolio. By the end of the year, the company hopes to add a new, yet to be named, location to its accelerator business. In addition, the company will launch and monetize three new businesses:

Healthbox Solutions – Healthbox will build an online marketplace where graduating startups can showcase early products to enterprise consumers interested in emerging technologies, and willing to take on the early-adopter role.

Healthbox Foundries – Healthbox will market a scaled-down version of its accelerator model for use as an innovation center in independent healthcare organizations. The hope is that by introducing accelerator programs inside the walls of the hospital, organizations will improve the ability to scope out, build, and implement innovative internal concepts.

Healthbox will also build a business unit devoted to building “collaborative innovation” partnerships with healthcare provider organizations that would give Healthbox an opportunity to build and sell solutions based directly on existing organizational needs. These new products could then feasibly be spun off into new businesses that Healthbox could maintain a healthy equity stake in.

"To drive system-wide improvements in both quality and service while reducing overall    costs, we need to expand our thinking and partner with thought leaders who have a    passion for excellence." – Bert Zimmerli, Intermountain CFO and executive vice president


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