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Nashville Entrepreneurs Launch Health Care Venture Studio OtherLeft Ventures

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Nashville has another new venue to grow health care startups.

Entrepreneurs Peter Marcum, Dr. Rodney Hamilton and Blaine Anderson have launched OtherLeft Ventures, a healthcare focused venture studio providing seed capital and product development for health-tech startups, according to a news release. Blattner Technologies is a co-founding investor in OtherLeft Ventures.

The launch comes as Nashville’s health-tech scene has exploded in recent years, garnering rounds of funding as high as nine figures. Local hospital operators have also gotten into the mix, launching their own innovation studios. Brentwood-based LifePoint Health launched its in-house innovation studio, 25m Health, in 2021 with $20 million in seed money. In February, Ardent Health Services announced a partnership with fellow Nashville-based firm SwitchPoint Ventures to launch its own innovation studio.

OtherLeft Ventures will act as both a co-founder in startups alongside entrepreneurs, as well as an investor, according to the release. The studio will center on B2B software startups and has closed its first investment.

“We are looking for driven problem-solvers who are serving the healthcare industry. We are focused on innovators at the earliest stages, even idea-only, though we will consider companies who are further along,” Anderson said in the release. “We are seeking founders or companies with innovative ideas that can really benefit from adding an experienced cofounder with a solid process and methodology.”

 

“Our aim is to mitigate typical failure points one often encounters as an entrepreneur creating a startup in a complicated industry such as healthcare,” Hamilton said in the release. “We have brought together a proven ecosystem of top talent in the areas of healthcare domain expertise, human-centered design, product management, software development, sales, marketing and legal/financial services.”

 

Source: SFBJ

 

Tennessee-Based American Health Partners Bought By Michigan-Based Investment Firm

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Franklin-based American Health Partners has been purchased by the Mitchell Family Office, an investment firm with a focus in health care, according to a news release. Terms of the deal were not disclosed.

AHP provides health care services to adults and seniors, including home health and hospice, short-term care aimed at recovery and rehabilitation and daily living care. The company operates 29 senior living and skilled nursing centers, five psychiatric hospitals and home health offices, with seven divisions across nine states, in total. The company has 140 employees, according to its LinkedIn page. AHP’s executive team will remain in place.

“This is an important step forward in the evolution of our company,” Michael Bailey, CEO of AHP said in the release. “The past year has been challenging for everyone providing long term care and other health care services to seniors, though we’ve fared better than most. This ownership agreement presents an exciting opportunity for American Health Partners. MFO has the expertise and financial resources to build on our strong foundation, fund our strategic plan and enhance our ability to seize new growth opportunities.”

Birmingham, Michigan-based Mitchell Family focuses on “building and growing successful health care companies,” according to the release, something founder Mark Mitchell said the firm thinks it can do with AHP.

“We are very selective on where we choose to invest. With its full continuum of health care services, a strong management team and a growing Medicare Advantage business, we view American Health Partners as a company with tremendous growth opportunities,” Mitchell said in the release. “We see ourselves as the bridge that helps high-potential companies go to the next level.”