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SOURCE Ascension Ventures
Healthcare Private Equity Investing Strategy Continues
ST. LOUIS, Nov. 4, 2013 /PRNewswire/ -- Ascension Health Ventures has changed its name to Ascension Ventures effective Nov. 4 to better align with the new identity architecture of its parent organization, Ascension. Based in St. Louis, Ascension Ventures has $550 million in assets under management through three separate venture capital funds. Its limited partners include Ascension and other Catholic and nonprofit health systems interested in making strategic investments in healthcare.
"We believe Ascension Ventures is a significant driver of innovation within our organization and through its strategic investments has the potential to transform the healthcare industry, and significantly enhance the experience for patients, their families and their caregivers," said Anthony R. Tersigni, EdD, FACHE, President and Chief Executive Officer of Ascension. "Although national in focus, Ascension Ventures has its roots in the local economy where it contributes to St. Louis' growing reputation as an emerging financial center."
"We are excited about the investment opportunities we are seeing that can help our limited partners achieve their strategic goals," said Matthew Hermann, Senior Managing Director at Ascension Ventures. "Given the changes ahead, our partners are more willing to pilot and adopt solutions earlier than ever before. At the same time, our private equity co-investors recognize the value of having the voice of the customer in the boardroom. Our name is changing, but our strategy is a continuation of the same one we have deployed since we started our first venture fund more than 12 years ago."
As part of this change, the new website of Ascension Ventures will be www.ascensionventures.org.
About Ascension Ventures
Ascension Ventures (www.ascensionventures.org) was launched in 2001 as a wholly owned subsidiary of Ascension Health. Today it is a subsidiary of Ascension, a parent holding company formed in 2012. Ascension Ventures' role has been to construct and manage a strategic portfolio of investments that deliver a venture investment return, have the potential to transform the healthcare industry, and significantly enhance the experience for patients, their families and their caregivers. Ascension Ventures has three venture funds under management and its limited partners include Ascension, Catholic Health East, Catholic Health Initiatives, Decatur Memorial Hospital, Dignity Health, Intermountain Healthcare and Mercy.
Ascension (www.ascension.org) is a Catholic healthcare organization dedicated to the transformation of healthcare through excellent clinical care throughout the continuum and through innovation. Its subsidiaries include Ascension Health, the nation's largest Catholic and non-profit health system. Ascension Health provides the highest quality care to all with special attention to those who are poor and vulnerable. Last year Ascension Health provided $1.5 billion in care of persons living in poverty and community benefit programs. Its Mission-focused Health Ministries employ more than 150,000 associates serving in more than 1,500 locations in 23 states and the District of Columbia. Other Ascension subsidiaries focus on service areas ranging from biomedical engineering to treasury management functions to resource and supply management to venture capital investing.
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