The La Palma-based Innovation Institute has signed an agreement with the Westport, Conn.-based Society of Physician Entrepreneurs, a biomedical and healthcare innovation network of more than 25,000 members in some 20 chapters worldwide.
The agreement will enable collaboration on concepts and ideas with the goal of improving healthcare delivery.
“This partnership gives [the society] the opportunity to work with our team of Ph.D.’s, M.D.’s, and tech transfer staff to commercialize and take their ideas to market,” said Joe Randolph, president and chief executive of Innovation Institute.
Innovation Institute is an independent, for-profit LLC owned by non-profit health systems to cultivate innovation.
The local owners are Providence St. Joseph Health in Irvine and Children’s Hospital of Orange County in Orange.