OSF Ventures, a division of OSF HealthCare which operates several hospitals in Illinois, including OSF Saint Anthony’s Health Center in Alton, has invested in a company that treat pelvic dysfunctions such as urinary incontinence.
OSF Ventures this week announced its latest investment in Renovia Inc., a Boston-based company dedicated to discovering and delivering first-line digital therapeutic and diagnostic devices to help women overcome these issues without undergoing a surgical procedure. The company’s first FDA-approved device helps women rehabilitate and train weak pelvic floor muscles for the treatment of stress, mixed and mild-moderate urgency incontinence.
“Pelvic floor muscle training is recognized as the most beneficial treatment for women who suffer from urinary incontinence,” said Jason Rodeghero, senior vice president of Occupational Health and Rehabilitation Services for OSF HealthCare. “However, studies indicate that about one-third of women presenting for evaluation of a pelvic floor disorder can’t properly perform basic pelvic floor muscle exercises.”
Renovia’s technology uses interactive visualization and real-time progress tracking, guiding women to correctly complete the pelvic floor movements.
“We’re excited to invest in a company working on a variety of products to positively impact this worldwide issue,” said Stan Lynall, vice president of Venture Investments for OSF HealthCare. “As the Renovia team continues this work, our investment sets the stage for ongoing clinical collaboration to address those suffering from pelvic floor health issues.”
OSF Ventures joined six other venture groups in the Renovia investment opportunity.
“I know I speak on behalf of everyone at Renovia when saying that we’re ecstatic to have the support of OSF Ventures as we work to develop a new standard of care for the treatment of urinary incontinence and then other pelvic floor disorders,” said Marc Beer, co-founder, chairman and chief executive officer of Renovia. “The ability to partner with a world-class integrated health network, like OSF HealthCare, creates unique clinical opportunities.”
Proceeds from the funding will be used to support Renovia’s clinical trials, product development pipeline, corporate development and future commercial launches. Lynall will be joining the Renovia board as an observer.
OSF HealthCare, headquartered in Peoria, is owned and operated by The Sisters of the Third Order of St. Francis, and consists of nearly 21,000 employees in 126 locations, including 13 hospitals, 11 Centers for Health and 15 OSF PromptCares throughout Illinois and Michigan.