In its latest investment, Froedtert & the Medical College of Wisconsin's Inception Health backed TailorMed, a New York City-based startup designed to help health care organizations remove financial barriers to care.
Inception Health is the digital health arm of Froedtert & MCW. It invested in TailorMed alongside Ballad Ventures, the venture capital arm of Ballad Health in the Appalachia area, and Cleveland-based University Hospitals Ventures, according to an announcement last month.
TailorMed's platform intelligently matches patients with financial assistance opportunities across 6,000 resources and streamlines ongoing program management, the announcement stated. Advocate Aurora Health, one of the Milwaukee area's largest health systems, is among TailorMed's users.
Inception Health's investment in TailorMed was a strategic one, Inception Health senior manager Kelly Stevenson said in a statement.
“Our investment portfolio is built around companies that directly support the Froedtert & the Medical College of Wisconsin health network’s staff, clinicians and patients," Stevenson said.
The size of TailorMed's latest financing round was not disclosed. In September 2021, the company announced it had raised $25 million from another group of investors.
Inception Health and the other institutions that recently backed TailorMed are part of the Avia Venture Network, a group of health systems that co-invest in opportunities vetted by Chicago-based health care digital transformation firm Avia.
Froedtert launched Inception Health in 2015. Since the pandemic, Inception has stepped up its investments in early-stage digital health companies. The Inception Health Investment Fund has invested almost $14 million across a total of 15 deals since 2018, Inception Health director Mike Maschek told Wisconsin Inno in October.
