Geisinger Health System, a US-based medical services provider, has joined venture capital firm Oak Investment Partners in founding XG Health Solutions.

XG, a healthcare services company, said it would make Geisinger’s intellectual property available to peers, while Oak is investing $40m.

Earl Steinberg, Geisinger’s executive vice-president of innovation and dissemination, will be XG Health’s chief executive. Steinberg was the entrepreneur that built Resolution Health until its sale to WellPoint.

Glenn Steele Jr, executive president of Geisinger Health System, said: “Our innovative solutions help transform how healthcare will be provided and financed in the future, and XG Health Solutions will enable us to extend these innovations well beyond Geisinger.”

Subscribe to go deeper

GCV subscribers get access to all our proprietary data and deep-dive articles, as well as the global directory of CVC investors.

Not sure if you have a subscription?