US Venture Firm General Catalyst and Israel's Sheba Medical Center Boost Digital Health Tech

Renowned venture capital firm General Catalyst has joined forces with Sheba Medical Center, the largest in Israel and a Newsweek's top-ranked hospital for five consecutive years, to fast-track digital health tech advancements. The strategic collaboration makes Sheba the first Israeli and the second global partner to be inducted into General Catalyst's Health Assurance Ecosystem cohort. Daryl Tol, the head of the Health Assurance Ecosystem at General Catalyst, emphasized the shared commitment of both parties to innovation. "Sheba is a global leader in the healthcare innovation sector. Our mutual ethos of change and radical collaboration propels us to foster healthcare transformation," Tol stated. The alliance between General Catalyst and Sheba entails four strategic modules to speed up breakthroughs in healthcare: expediting Sheba's digital transformation, shared investment opportunities in General Catalyst's and ARC's portfolio companies, co-creation of novel solutions addressing shared priorities, and an innovation sandbox for testing and refining cutting-edge solutions. These initiatives are set to overhaul healthcare delivery, leading to significant benefits for patients and the industry. Sheba's Chief Innovation and Transformation Officer, Prof. Eyal Zimlichman, emphasized the importance of this collaboration, stating, “This collaboration is crucial for accelerating digital health, pushing us towards a future where healthcare is proactive, preventative, and cost-effective." General Catalyst, known for its commitment to healthcare investment and innovation, launched the $670 million Health Assurance Fund II in July 2022. The firm's portfolio boasts investments in a number of Israeli companies, including AI-based software maker Aidoc, fintech company Rapyd, gaming startup Superplay, and cybersecurity startup Apiiro. ARC Innovation at Sheba Medical Center leads the way in global health transformation, boasting 140 members across 20+ countries, addressing the main challenges of modern healthcare. ARC supports numerous global partnerships, emerging as a hotbed for digital health advancements, and establishing itself as a healthtech thought leader. This growth nexus helps foster the development of various healthtech startups, positively influencing healthcare systems globally.