PCOM Establishes Venture Fund to Fuel Innovation in Primary CareMay 20, 2016
Philadelphia College of Osteopathic Medicine (PCOM) announced it has committed through
its Foundation the allocation of $5 million to a new venture capital fund designed
to stimulate innovation and entrepreneurship in the health care field, with a specific
focus on primary care.
The Primary Care Innovation Fund is the first such endeavor in the College’s 117-year history and will invest in companies
with established products and services that are healthcare-related and focused on
primary care. PCOM is the first osteopathic medical school to establish such a fund.
The establishment of the fund underscores the College’s mission of advancing knowledge
and intellectual growth broadly, and its commitment to the well-being of the community
through leadership and service, said Jay S. Feldstein, DO ’81, president and CEO of
“The osteopathic philosophy focuses on prevention and maintaining wellness, and seeing
the patient as a whole person—not just their symptoms. Through the Primary Care Innovation
Fund, PCOM can extend that philosophy by investing in innovative opportunities nationally
to improve and maintain patients’ quality of life,” said Dr. Feldstein.
He added that he was hopeful the more than 13,000 osteopathic physicians and other
health care professionals whom PCOM has educated could benefit from these innovations
by addressing the quality, access and affordability of health care for their patients.
The fund will also provide myriad benefits for the College’s students, faculty, staff
and alumni by opening doors financially to those who have a product or service appropriate
for funding, and connecting those individuals to learning and networking opportunities
within the investment community. The fund will focus on producing financial returns
and as a result, offers the College a potential revenue stream that is not tuition-based.
Investments from across the country will be considered, with a focus on the Philadelphia
and Atlanta, Georgia, metro areas. (PCOM’s branch campus is located in Suwanee, Georgia.)
Dean Miller, a private equity and venture capital investor with strong regional and
national ties to the healthcare and technology sectors, will manage the fund. Mr.
Miller also serves as president and CEO of the Philadelphia Alliance for Capital &
Technologies (PACT) and as partner at Evergreen Industries LLC.
An advisory board comprised of physicians and business executives from Philadelphia
and Atlanta will assist Mr. Miller in determining the feasibility and market demand
for each potential investment. PCOM’s Executive Committee will serve as the Fund’s
Board of Managers and, along with Mr. Miller, will make the final determinations on
“The primary care clinician is the point person for chronic conditions that patients
face,” said Mr. Miller. “To that end, it is a natural fit for PCOM to lead the way
in promoting innovation within primary care by investing in companies that can address
and prevent those conditions.”
The fund is currently seeking investment opportunities. More information can be found
by visiting www.pcom.edu/innovationfund/ or emailing Mr. Miller at email@example.com.
About Philadelphia College of Osteopathic Medicine
Founded in 1899, Philadelphia College of Osteopathic Medicine (PCOM) has trained thousands
of highly competent, caring physicians, health practitioners and behavioral scientists
who practice a “whole person” approach to care—treating people, not just symptoms.
PCOM operates three campuses (PCOM, PCOM Georgia and PCOM South Georgia) and offers doctoral degrees in clinical psychology, educational psychology, osteopathic
medicine, pharmacy, physical therapy and school psychology, and graduate degrees in
applied behavior analysis, applied positive psychology, biomedical sciences, forensic
medicine, medical laboratory science, mental health counseling, non profit leadership
and population health management, organizational development and leadership, physician
assistant studies, school psychology, and public health management and administration.
PCOM students learn the importance of health promotion, research, education and service
to the community. Through its community-based Healthcare Centers, PCOM provides care
to medically underserved populations. For more information, visit pcom.edu or call 215-871-6100.
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