Intermountain Ventures

What Intermountain Ventures does

Intermountain Ventures is the corporate venture capital arm of Intermountain Health, a nonprofit health system founded in 1973 and headquartered in Salt Lake City, Utah. The CVC, established in 2019, makes strategic minority investments in digital health, AI-powered healthcare solutions, and care delivery startups whose theses align with Intermountain Health's clinical priorities. Its parent organization operates 34 hospitals and 400+ clinics across six Mountain West states (Utah, Idaho, Nevada, Colorado, Montana, Wyoming) with 68,000+ caregivers, more than 3 million telehealth patients served, and $1.6 billion contributed to community health in a single year.

Intermountain Ventures' business model is capital deployment rather than product sales. It participates in funding rounds for healthcare technology companies alongside institutional venture capital and strategic investors, providing portfolio companies with clinical validation sites, regulatory pathways, and operational infrastructure through the parent health system. Notable portfolio companies include knownwell (obesity medicine, $25M strategic round led by CVS Health Ventures), Foundation Health (PAIGE AI pharmacist assistant, $20M Series A led by Define Ventures), Visana Health (virtual-first women's health, $24M Series A led by Noro-Moseley Partners), and a strategic partnership with Canary Speech for IRB-approved AI-driven vocal biomarker research in Multiple Sclerosis. The CVC operates with a small team (11-50 employees) and does not sell external products or charge investment management fees disclosed in public filings.

The company's go-to-market is relationship-driven and operates through healthcare venture networks, co-investment with tier-1 VCs and corporate strategics (a16z Bio + Health, CVS Health Ventures, Cigna Group Ventures, Define Ventures, Flare Capital Partners, Noro-Moseley Partners), and direct clinical pilots inside Intermountain Health's provider network. Revenue mechanics rely on capital appreciation, strategic exit returns, and operational benefits flowing back to the parent health system rather than top-line income; no external revenue, ARR, or AUM is publicly disclosed.

Name

Intermountain Ventures

Legal name

Intermountain Health

Website

https://intermountainhealthcare.org

Company type

Private

Founded year

1973

Operating status

Operating

Headcount range

11–50 employees

Short description

Intermountain Ventures is the corporate venture capital arm of Intermountain Health, a nonprofit health system operating 34 hospitals and 400+ clinics across the Mountain West. It makes strategic minority investments in digital health, AI diagnostics, and care delivery startups aligned with the parent system's clinical priorities.

Ownership category

akta.pro rank

Product category

Healthcare Venture Capital

NAICS

Miscellaneous Intermediation (52391), Investment Banking and Securities Intermediation (523150)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Corporate Strategic Partnership & Ecosystem Investment Arms (FSANAHAF)

akta.pro secondary industry

Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)

Keywords

• Healthcare venture capital
• Corporate venture capital
• Digital health investments
• Healthcare technology investing
• Strategic healthcare investments

Headquarters

HQ city

Salt Lake City

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others, Technology or R&D

Distribution channels1 record

Marketing channels1 record

Core offering

Intermountain Ventures is the strategic corporate venture capital arm of Intermountain Health, making minority equity investments in healthcare technology companies whose products align with the parent health system's clinical and operational priorities. Portfolio companies receive capital alongside the ability to pilot and validate their solutions inside Intermountain Health's care delivery network, with recent investments targeting digital health, AI diagnostics, virtual care, pharmacy automation, obesity medicine, and women's health.

Product overview

Intermountain Health operates as a healthcare delivery system with digital health products including the MyChart-powered patient portal and Connect Care virtual care platform. The company offers a portfolio of services spanning 34 hospitals and 400+ clinics across six states, with technology products focused on patient access and virtual care delivery rather than a distinct commercial product portfolio sold to other organizations.

Differentiator

Problem solved

Functional benefit

Brands

• Select Health: Health plan division of Intermountain Health
• Intermountain Children's Health
• Intermountain Connect Care

Products and services

• Intermountain Strategic Healthcare Venture Capital Investments Minority equity investments and strategic partnerships made by Intermountain Ventures into healthcare technology companies, accompanied by clinical validation opportunities, access to Intermountain Health's patient populations, and operational expertise. Targets digital health, AI diagnostics, virtual care, pharmacy automation, obesity medicine, and women's health.

Quantifiable outcome

• Healthcare AI market projected to grow from $37 billion in 2025 to $506 billion by 2033
• +1 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Canary SpeechcoreStrategic or Co-development Partner · 10 February 2026Intermountain Ventures partnered with Canary Speech to launch the first IRB-approved study using vocal biomarkers to identify Multiple Sclerosis. The study collects voice samples from patients to test AI-driven algorithms for MS detection, led by Dr. Timothy West at Intermountain Health's Salt Lake Clinic. This partnership represents Intermountain Ventures' focus on AI-powered diagnostic innovation.

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Flare Capital Partners: Healthcare-focused venture firm investing across digital health, payer-provider, and care-delivery innovation. Existing investor in knownwell alongside Intermountain Ventures.
• Kaiser Permanente Ventures: CVC arm of Kaiser Permanente investing in healthcare technology and services. Direct CVC peer anchored in an integrated nonprofit health system, similar strategic-investor posture to Intermountain Ventures.
• Echo Health Ventures: Strategic healthcare CVC backed by Cambia Health Solutions and Blue Cross and Blue Shield of North Carolina. Comparable multi-payer CVC investing across care delivery, digital health, and AI.
• Define Ventures: Sector-focused venture firm dedicated to digital health and healthcare transformation. Led Foundation Health's Series A in which Intermountain Ventures participated.
• a16z Bio + Health: Andreessen Horowitz's healthcare-focused fund investing in digital health, biotech, and care delivery. Participated in knownwell's oversubscribed round alongside Intermountain Ventures.
• Noro-Moseley Partners: Healthcare-focused growth equity firm based in Atlanta investing across health-tech, services, and life sciences. Led Visana Health's Series A in which Intermountain Ventures participated.
• CVS Health Ventures: Corporate venture arm of CVS Health investing in digital health, obesity care, and care delivery. Direct CVC peer that co-led knownwell's oversubscribed round alongside Intermountain Ventures.
• MassMutual Catalyst Fund: Strategic investment fund of Massachusetts Mutual Life Insurance Company focused on health, wealth, and financial-tech innovation. Participated in knownwell alongside Intermountain Ventures.
• The Cigna Group Ventures: Corporate venture arm of The Cigna Group investing across digital health, care delivery, and pharmacy. Participated alongside Intermountain Ventures in Visana Health's $24M Series A.
• Optum Ventures: The CVC of UnitedHealth Group/Optum, one of the largest healthcare-focused CVCs. Comparable as a strategic investor backing AI, virtual care, and care-delivery startups with national distribution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments35 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Intermountain Ventures