Innovation Institute LLC in La Palma acquired Summit Talent Group, a healthcare industry executive compensation and search firm in Columbia, Md.
The institute develops healthcare products and services under three units: a medical devices and technology lab, an investment fund, and a division that acquires firms related to healthcare construction, staffing, and medical office design and equipment.
Summit will be part of the third unit, retain its Maryland offices and work with San Rafael-based FutureSense LLC, which the institute bought in November and which provides staffing to healthcare companies and physicians groups, among others.
The institute in a similar move in April bought MultiMedical Systems, a clinical engineering services and medical equipment firm in Fresno whose work is related to an institute company, Tech Knowledge Associates.
The institute’s portfolio companies provide services “typically outsourced by hospitals and health systems,” said Institute Chief Executive Joe Randolph via email.
—Paul Hughes
