Georgetown University Hospital’s parent system, MedStar Health and Cleveland Clinic recently agreed to create an Innovation Alliance to benefit patients through collaborative innovation projects, research, clinical investigation, and commercialization application.
The Innovation Alliance will be a joint effort of Cleveland Clinic Innovations (CCI), led by chairman Thomas Graham, MD and executive director Chris Coburn, and the MedStar Institute for Innovation (MI2) led by director Mark Smith, MD, with collaboration on multiple fronts. The first tangible expression of this Innovation Alliance is for MedStar to utilize CCI’s comprehensive technology and commercialization services infrastructure. The integration of capabilities between the two organizations will be focused on development and rapid deployment of new technologies.
“We are pleased to have the opportunity to work with MedStar Health in accelerating the development of technologies that directly benefit patients,” said Delos “Toby” Cosgrove, MD, president and CEO of Cleveland Clinic. “In light of the significant changes taking place in the United States healthcare system, this type of collaboration is important in enhancing the overall quality of care.”
Throughout the last 10 years, Cleveland Clinic Innovations has created a reputation as an industry leader in navigating the commercialization process, resulting in 35 spin-off companies and more than 250 licensed technologies. MedStar Health has a record of producing innovative solutions in informatics, simulation training and elder home care, and has made a broad commitment to expand innovation into all areas of clinical care.
“MedStar Health and Cleveland Clinic share a compelling vision of creating a better future for our patients,” said Kenneth Samet, FACHE, president and CEO, MedStar Health. “We are excited to collaborate with the Cleveland Clinic to enhance the quality and safety of healthcare while reducing costs and improving effectiveness.”
As the first joint initiative of this new alliance, Cleveland Clinic Innovations will provide on-the-ground support to assist the MedStar Institute for Innovation in tapping into the creative talents of MedStar’s employees and manage an “idea-to-market” process. The two centers will be focusing on technology development and commercialization with plans to explore additional collaboration opportunities between the two organizations.