The American Hospital Association (AHA) made its latest foray into financing investment funds that focus on health equity with a deal involving SteelSky Ventures, a venture fund focusing on companies that improve women’s health.
The hospital industry group said Tuesday that the undisclosed investment amount is to help historically marginalized entrepreneurs get funding to create new healthcare solutions.
“SteelSky Ventures is making critical investments in women’s health with an eye for innovation in the delivery of care,” AHA President and CEO Rick Pollack said in a statement. “The AHA is excited about how this fund can positively affect the double bottom-line of financial and social impact.”
SteelSky has invested in a range of healthcare companies that include medical device and digital health startups.
Henry Ford Health System and MultiCare Health System are among the fund’s investors and strategic partners, according to AHA.
Some of the companies SteelSky has invested in include women’s telemedicine platform Twentyeight and Lark, an AI platform that helps with chronic care management.
This is the second investment the hospital group has made into venture capital firms with a health equity focus.
Back in January, AHA partnered with Jumpstart Nova, which invests only in Black-founded healthcare companies that are primarily in the health IT, digital and medical device spaces as well as the consumer health and wellness sectors.
Health equity has become a major emphasis for the healthcare industry, especially as the Biden administration has pressed for new regulations for both providers and payers to reduce disparities.