Change is coming. The only question remains how to maximise the impact at a corporation through sophisticated use of open innovation tools, such as corporate venturing, and align them to traditional research and development and mergers and acquisitions.
Switzerland-based healthcare insurer CSS Insurance has set up the CHF50m SwissHealth Ventures fund managed by Redstone’s venture capital-as-a-service. Jonathan Fraser, head of venturing at CSS, said it would focus digital health startups contributing to a high quality and cost-efficient health system.
As discussed in Monday’s editorial, the opportunity set is huge.
Consultants Deloitte’s 2020 Health Care Outlook said: “Rising health care costs. Changing patient demographics. Evolving consumer expectations. New market entrants. Complex health and technology ecosystems. Health care stakeholders need to invest in value-based care, innovative care delivery models, advanced digital technologies, data interoperability, and alternative employment models to prepare for these uncertainties and build a smart health ecosystem.”
The big tech firms are already exploring the space. Om Nalamasu, chief technology officer at Applied Materials, in a keynote identified the health and longevity sector as at a global inflection point.
Whether CSS as a mid-sized insurer will ride the storm remains unclear but it has at least given itself a chance by setting up SwissHealth Ventures.
