Skip to main content
Sister Publication Links
  • ESG: THE IMPLEMENTATION IMPERATIVE
Subscribe
  • Sign Up Free
  • Login
  • Subscribe
  • News
    • Current News
    • Providers
    • Insurance
    • Digital Health
    • Government
    • Finance
    • Technology
    • Safety & Quality
    • Transformation
    • People
    • Regional News
    • Digital Edition (Web Version)
    • Patients
    • Operations
    • Care Delivery
    • Payment
    • Midwest
    • Northeast
    • South
    • West
  • Unwell in America
  • Opinion
    • Bold Moves
    • Breaking Bias
    • Commentaries
    • Letters
    • Vital Signs Blog
    • From the Editor
  • Events & Awards
    • Awards
    • Conferences
    • Galas
    • Virtual Briefings
    • Webinars
    • Nominate/Eligibility
    • 100 Most Influential People
    • 50 Most Influential Clinical Executives
    • Best Places to Work in Healthcare
    • Excellence in Governance
    • Health Care Hall of Fame
    • Healthcare Marketing Impact Awards
    • Top 25 Emerging Leaders
    • Top 25 Innovators
    • Diversity in Healthcare
      • - Luminaries
      • - Top 25 Diversity Leaders
      • - Leaders to Watch
    • Women in Healthcare
      • - Luminaries
      • - Top 25 Women Leaders
      • - Women to Watch
    • Digital Health Transformation Summit
    • ESG: The Implementation Imperative Summit
    • Leadership Symposium
    • Social Determinants of Health Symposium
    • Women Leaders in Healthcare Conference
    • Best Places to Work Awards Gala
    • Health Care Hall of Fame Gala
    • Top 25 Diversity Leaders Gala
    • Top 25 Women Leaders Gala
    • - Hospital of the Future
    • - Value Based Care
    • - Hospital at Home
    • - Workplace of the Future
    • - Digital Health
    • - Future of Staffing
    • - Hospital of the Future (Fall)
  • Multimedia
    • Podcast - Beyond the Byline
    • Sponsored Podcast - Healthcare Insider
    • Video Series - The Check Up
    • Sponsored Video Series - One on One
  • Data Center
    • Data Center Home
    • Hospital Financials
    • Staffing & Compensation
    • Quality & Safety
    • Mergers & Acquisitions
    • Data Archive
    • Resource Guide: By the Numbers
    • Surveys
    • Data Points
  • MORE+
    • Contact Us
    • Advertise
    • Media Kit
    • Newsletters
    • Jobs
    • People on the Move
    • Reprints & Licensing
MENU
Breadcrumb
  1. Home
  2. Finance
March 23, 2022 03:29 PM

American Hospital Association's latest investments emphasize health equity

Kara Hartnett
  • Tweet
  • Share
  • Share
  • Email
  • More
    Reprints Print
    doctor with mother and child
    iStock

    The American Hospital Association is taking a direct approach to facilitating health equity by providing capital and support to investment outfits emphasizing personalized healthcare startups led by women and people from racial and ethnic minority communities.

    The AHA has invested in SteelSky Ventures, a women-led fund with a portfolio focused on maternal health, telehealth and in-home care services and artificial intelligence tools for managing chronic health conditions, the trade group announced Tuesday.

    This marks the organization's second such investment in a planned series of four, said Doug Shaw, the AHA's senior vice president for business development. In January, the association joined a group of healthcare organizations and financial institutions that invested $55 million in Jumpstart Nova, a fund led by Marcus Whitney that plans to exclusively support health technology firms with Black founders. AHA has not disclosed the value of its investments.

    The association started dabbling in investment with the launch of its first fund in 2019, which it created in partnership with Concord Health Partners. The $50 million pool targeted startups that offered services to hospitals in general. With the latest investments, the AHA is narrowing its focus to personalized health solutions that hospitals can deploy to address health disparities.

    The AHA is also trying to increase the capital allocated to funds and businesses led by people from historically marginalized populations. Last year, funding for Black-owned health tech companies made up only 1% of U.S. venture capital, according to data collected by Crunchbase. Investments catered to women's health represented 7% of health tech funding in 2021, according to seed fund Rock Health.

    The AHA is also trying to increase the capital allocated to funds and
    businesses led by people from historically marginalized populations.

    To mitigate this dearth of funding, the AHA decided to serve as a strategic investor to funds, rather than launch its own, Shaw said.

    "Our investments are a signal to our commitment to try to course-correct and end some of these injustices, and really provide opportunities for these healthcare innovators to create solutions and services that our members are seeking," said Joy Lewis, the AHA's senior vice president for health equity strategies.

    Download Modern Healthcare’s app to stay informed when industry news breaks.

    Having the largest U.S. hospital trade association on board is advantageous because the AHA brings a network of nearly 5,000 member-hospitals as potential clients, SteelSky Ventures founding and general partner Maria Velissaris said.

    "Our investments are a signal to our commitment to try to course-correct
    and end some of these injustices, and really provide opportunities for these
    healthcare innovators to create solutions and services that our members are seeking,"
    said Joy Lewis, the AHA's senior vice president for health equity strategies.

    SteelSky operates a portfolio with nearly $72 million in assets, according to managing partner Buffy Alegria. In addition to women's health services, the firm also has investments in companies developing ancillary services such as an online licensure platform designed to increase the number of female therapists, a drone delivery service for prescription medicines and a period apparel company.

    "Hospitals like us because we have a list toward health equity. While they may have some solutions now, they might not be inclusive," Velissaris said. "We're also finding new companies, especially in women's health, that they don't already have. We're able to show them [these services and products] and get that to the hospitals as quickly as possible."

    Related Articles
    Healthcare firms were pushed to confront racism. Now some are investing in Black startups.
    What New York women's health startups are doing to improve Black maternal morbidity
    Fund launched to invest exclusively in Black-owned health tech ventures
    Letter
    to the
    Editor

    Send us a letter

    Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.

    Recommended for You
    Kyle-Wailes_16x9.jpg
    Wellvana Health raises $84M from Memorial Hermann, Valtruis, others
    sutter_i.jpg
    Sutter Health lost $249M in 2022 in reversal of fortune
    Most Popular
    1
    More healthcare organizations at risk of credit default, Moody's says
    2
    Centene fills out senior executive team with new president, COO
    3
    SCAN, CareOregon plan to merge into the HealthRight Group
    4
    Blue Cross Blue Shield of Michigan unveils big push that lets physicians take on risk, reap rewards
    5
    Bright Health weighs reverse stock split as delisting looms
    Sponsored Content
    Daily Finance Newsletter: Sign up to receive daily news and data that has a direct impact on the business and financing of healthcare.
    Get Newsletters

    Sign up for enewsletters and alerts to receive breaking news and in-depth coverage of healthcare events and trends, as they happen, right to your inbox.

    Subscribe Today
    MH Magazine Cover

    MH magazine offers content that sheds light on healthcare leaders’ complex choices and touch points—from strategy, governance, leadership development and finance to operations, clinical care, and marketing.

    Subscribe
    Connect with Us
    • LinkedIn
    • Twitter
    • Facebook
    • RSS

    Our Mission

    Modern Healthcare empowers industry leaders to succeed by providing unbiased reporting of the news, insights, analysis and data.

    Contact Us

    (877) 812-1581

    Email us

     

    Resources
    • Contact Us
    • Advertise with Us
    • Ad Choices Ad Choices
    • Sitemap
    Editorial Dept
    • Submission Guidelines
    • Code of Ethics
    • Awards
    • About Us
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Modern Healthcare
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • News
      • Current News
      • Providers
      • Insurance
      • Digital Health
      • Government
      • Finance
      • Technology
      • Safety & Quality
      • Transformation
        • Patients
        • Operations
        • Care Delivery
        • Payment
      • People
      • Regional News
        • Midwest
        • Northeast
        • South
        • West
      • Digital Edition (Web Version)
    • Unwell in America
    • Opinion
      • Bold Moves
      • Breaking Bias
      • Commentaries
      • Letters
      • Vital Signs Blog
      • From the Editor
    • Events & Awards
      • Awards
        • Nominate/Eligibility
        • 100 Most Influential People
        • 50 Most Influential Clinical Executives
        • Best Places to Work in Healthcare
        • Excellence in Governance
        • Health Care Hall of Fame
        • Healthcare Marketing Impact Awards
        • Top 25 Emerging Leaders
        • Top 25 Innovators
        • Diversity in Healthcare
          • - Luminaries
          • - Top 25 Diversity Leaders
          • - Leaders to Watch
        • Women in Healthcare
          • - Luminaries
          • - Top 25 Women Leaders
          • - Women to Watch
      • Conferences
        • Digital Health Transformation Summit
        • ESG: The Implementation Imperative Summit
        • Leadership Symposium
        • Social Determinants of Health Symposium
        • Women Leaders in Healthcare Conference
      • Galas
        • Best Places to Work Awards Gala
        • Health Care Hall of Fame Gala
        • Top 25 Diversity Leaders Gala
        • Top 25 Women Leaders Gala
      • Virtual Briefings
        • - Hospital of the Future
        • - Value Based Care
        • - Hospital at Home
        • - Workplace of the Future
        • - Digital Health
        • - Future of Staffing
        • - Hospital of the Future (Fall)
      • Webinars
    • Multimedia
      • Podcast - Beyond the Byline
      • Sponsored Podcast - Healthcare Insider
      • Video Series - The Check Up
      • Sponsored Video Series - One on One
    • Data Center
      • Data Center Home
      • Hospital Financials
      • Staffing & Compensation
      • Quality & Safety
      • Mergers & Acquisitions
      • Data Archive
      • Resource Guide: By the Numbers
      • Surveys
      • Data Points
    • MORE+
      • Contact Us
      • Advertise
      • Media Kit
      • Newsletters
      • Jobs
      • People on the Move
      • Reprints & Licensing