Events
The MedCity INVEST conference is scheduled for May 21-22 at the Ritz Carlton hotel in Chicago. In addition to panel discussions around some of the hottest topics in healthcare transformation, there is also a startup pitch contest, a presentation on government funding for startups and networking opportunities.
By Stephanie Baum on April 04, 2024
For more than 10 years, MedCity INVEST has brought together active investors and promising startups across biopharma, diagnostics, medical devices, and health tech. The conference content highlights opportunities and challenges in the healthcare industry amidst a shifting landscape of consumer convenience, the shift to value-based care, the desire for seamless care coordination and more equitable and affordable healthcare for all.
The MedCity INVEST conference is scheduled for May 21-22 at the Ritz-Carlton hotel in Chicago. In addition to panel discussions around some of the hottest topics in healthcare transformation, there is also a startup pitch contest, a presentation on government funding for startups and networking opportunities.
Space is limited.Secure your spot todayto attend!
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One of the judges for the health tech payer/provider track focused on addressing burnout and operational efficiencies is Jane Rho, a director with DaVita Venture Group. In response to emailed questions, she shared some insights on what they look for in healthcare startups.
What is your investment strategy? How has it changed since DaVita Venture Group formed?
DaVita Venture Group serves as the growth and innovation arm of DaVita, a healthcare provider focused on transforming care delivery to improve quality of life for patients with chronic kidney disease globally. We look at opportunities to innovate care for polychronic patients and improve the holistic care experience beyond the kidneys by investing in new innovations adjacent to the kidney.
In the past few years, we’ve developed more flexibility to look at later-stage companies that have more traction and could create larger scale collaborations with our organization. Our team has worked to understand and proactively identify prospective partners that could add value to DaVita and support our commitment to transforming the care experience. Our team looks across tech-enabled services, digital health, and diagnostics that serve patients, our teammates, and independent physicians.
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A Deep-dive Into Specialty Pharma
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Have you noticed any changes in the way startups pitch to investors? What do you see as some of the positive developments? What would you advise them to do differently (in general)?
We’ve seen the narrative shift for startups to develop more focus around proving out their product market fit by developing the right traction, outcomes, and understanding of a specific customer channel or business line before crafting a broader story. We’ve also seen a greater emphasis on profitability over growth, especially at later stages of investing.
The current funding environment has been more challenging for startups, so we recommend developing relationships with investors early, refining the pitch to be clear/compelling, and showcasing strength/insights in a focused space to demonstrate impact. I have admired teams that can take feedback, demonstrate growth, and come back with a continued hunger to collaborate with potential investors/strategics.
Have any startups/healthcare organizations changed your mind about what‘s possible in healthcare?
One of my favorite parts of my job is learning from founders who are tackling some of the most challenging problems in healthcare. I have been inspired by the pace of change, resilience, and impact demonstrated by these founders. Innovation in health care has unique differentiators.
The entrepreneurs in healthcare consistently share a passion for making a difference in people’s lives. Impact in healthcare is so meaningful because it touches humans — patients, physicians, and caregivers. I love seeing how this drive to effectuate change has driven founders to create such positive impact and innovation in healthcare. I feel very lucky to get to collaborate with and support individuals who are much more capable than I am.
What advice do you have for healthcare startups?
Being an entrepreneur and being a change maker in healthcare is extremely challenging. I encourage healthcare founders to stay nimble, curious, reflective, and grounded. There is so much to learn in this industry and role. I am always impressed by some of the most accomplished or some of the sharpest entrepreneurs who showcase so much self-awareness and humility.
Photo: John M Lund Photography Inc, Getty Images
