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Launch Of The Innovation Institute Provides Novel Platform For Transformation Through Collaboration

The Innovation Institute also announced a collaboration with Cleveland Clinic Innovations, which has demonstrated a 12-year track record in developing intellectual property, filing more than 400 active licenses and cultivating 55 start-up companies. Cleveland Clinic's Healthcare Innovation Alliance program is designed to advance innovation and manage the commercialization process for health systems. St. Joseph Health, through The Innovation Institute, is the seventh partner to join the Healthcare Innovation Alliance program.

"The Healthcare Innovation Alliance allows health systems to leverage the experience of its fellow members to speed up the process of developing patient-centered technologies," said Chris Coburn, Executive Director of Cleveland Clinic Innovations.  "The addition of The Innovation Institute will give Cleveland Clinic Innovations and our Alliance members the opportunity to foster meaningful growth on the West Coast and with Catholic health systems." 

The new Alliance partnership will provide turn-key innovation solutions to hospitals, including ideation, intellectual property, prototyping, development and commercialization.  "Community hospitals and physician providers typically do not have an expertise in intellectual property and technology transfer," said Larry Stofko, Executive Vice President and Chief Technology Officer of The Innovation Institute. "By actively engaging with physicians and employees, we can help hospitals tap into a wealth of their own innovative potential and streamline the process of delivering these great ideas to patients." The Innovation Lab will also form collaborative partnerships with leading technology and healthcare companies to incubate breakthrough products, improved processes and better ways of practicing medicine.

The Innovation Institute is committed to maintaining a concentrated focus on thoughtful and aggressive collaboration, which it believes to be the key to solving so many of the recent challenges facing healthcare providers. 

SOURCE The Innovation Institute

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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