Investing in Louisiana-based venture and seed-stage health companies is a priority for this new fund managed by Ochsner Ventures, in collaboration with the Louisiana Economic Development agency
Ochsner Ventures is proud to announce the creation of the Ochsner Louisiana Innovation Fund, a $10 million fund for investments in early-stage, innovative health and health-adjacent companies in Louisiana. The fund is a partnership between Ochsner Health, Louisiana’s leading nonprofit health system, and Louisiana Economic Development (LED) through the State Small Business Credit Initiative (SSBCI), a program of the U.S. Treasury Department.
The Ochsner Louisiana Innovation Fund will identify and invest in venture and seed-stage health companies that are headquartered or have a meaningful nexus in Louisiana. The fund will make equity investments in companies whose innovations will improve the health of Louisianans and the experience of healthcare professionals across the industry. Priority will be given to companies whose solutions advance Ochsner’s strategic priorities of accelerating value-based care, digital transformation of care delivery, and improving access and community health across the state, with a focus on supporting founders from socially and economically disadvantaged backgrounds (SEDI).
“The Ochsner Louisiana Innovation Fund is one of the many ways we’re inspiring healthier lives and building stronger communities,” said Pete November, CEO of Ochsner Health. “Supporting Louisiana entrepreneurs who are developing innovative programs, services and technologies furthers our commitment to improve the health of the state and drives economic development and opportunity. We’re grateful to Governor Jeff Landry and LED Secretary Susan Bourgeois for their leadership and are excited to work alongside them to grow jobs in the state.”
In the past six years, Ochsner Health has committed $12M to funds and companies in Louisiana. This includes nine investments in early-stage companies whose products and services range from healthcare delivery and health tech to life sciences and value-based care. These companies are located throughout the state and support over 235 jobs. Because of Ochsner’s size and focus on healthcare, its portfolio companies benefit from expertise and mentorship from top tier clinicians and healthcare management professionals, along with access to national networks of venture capital and healthcare experts.
“Supporting Louisiana entrepreneurs and businesses is one of the many ways Ochsner is investing in Louisiana by both catalyzing innovation to drive economic development and job growth and accelerating new solutions designed to improve the health of the communities we serve,” said Aimee Quirk, Chief Corporate Development Officer and CEO of Ochsner Ventures. “Ochsner has a strong track record of partnering with innovators and other leaders in the entrepreneurial ecosystem to solve healthcare challenges and we are grateful to LED for recognizing our legacy of localized investment and innovation.”
The Ochsner Louisiana Innovation Fund will make its first investment in Nest Health, a value-based whole-family healthcare provider headquartered in New Orleans. Co-founded by Dr. Rebekah Gee, former Secretary of Health of Louisiana, and Rebecca Kavoussi, MPP, former President of Landmark Health, Nest Health provides parents and children with comprehensive medical, behavioral, and social care through house calls, virtual care and 24/7 support. Since launching, its services have become accessible at no additional cost to thousands of families covered by Medicaid in the New Orleans area.
“We are thrilled that Ochsner is supporting our vision of bringing care to families, as a unit, starting in Louisiana,” said Dr. Gee. “Ochsner’s investment in Nest’s innovative care model shows their commitment to improving health equity and delivering quality care to our country’s most vulnerable communities. We’re proud to be partnered and look forward to the impact we will continue to have together.”
Ochsner Ventures, which operates out of Benson Tower in downtown New Orleans alongside Ochsner’s innovation and digital health teams, will manage the program and collaborate with an extensive network of ecosystem partners to identify companies with compelling business models and strong leadership teams that are representative of the communities Ochsner serves.
“We’re excited to see Ochsner Ventures taking advantage of Louisiana’s State Small Business Credit Initiative (SSBCI) program to support health-related startups in Louisiana,” said LED Chief Innovation Officer Josh Fleig. “It’s vital to the future of our economy and our state that our major institutions like Ochsner invest in the next generation of innovative Louisiana companies.”
Visit the program website to learn more at https://www.ochsner.org/ventures/funds.
About Nest Health
Nest Health is the first value-based in-home and virtual healthcare provider built for families. Starting in New Orleans, Nest Health partners with families and insurers to deliver a healthier start in life. Families who are eligible for Nest’s services have access to comprehensive medical, behavioral, and social care through house calls, virtual care, and 24/7 support. Nest Health: Whole-Family Healthcare. For more information, to become a partner, or find care for your family visit NestHealth.com.
About State Small Business Credit Initiative (SSBCI)
SSBCI provides federal resources to state programs that support private sector loans and investments to creditworthy small businesses that are unable to access the capital they need to expand and create jobs. Learn more at Treasury.gov.
About LED
Louisiana Economic Development is responsible for driving capital investment, job creation and economic opportunity for the people of Louisiana and employers of all sizes. Explore how LED is positioning Louisiana to win at OpportunityLouisiana.com.
About Ochsner Health
Ochsner Health is the leading nonprofit healthcare provider in the Gulf South, delivering expert care at its 46 hospitals and more than 370 health and urgent care centers. For 13 consecutive years, U.S. News & World Report has recognized Ochsner as the No. 1 hospital in Louisiana. Additionally, Ochsner Children’s has been recognized as the No. 1 hospital for kids in Louisiana for three consecutive years. Ochsner inspires healthier lives and stronger communities through a combination of standard-setting expertise, quality and connection not found anywhere else in the region. In 2023, Ochsner Health cared for more than 1.5 million people from every state in the nation and 65 countries. Ochsner’s workforce includes more than 38,000 dedicated team members and over 4,700 employed and affiliated physicians. To learn more about how Ochsner empowers people to get well and stay well, visit https://www.ochsner.org/.