The Hearth’s healthcare practice was set up in 2016 following an increasing demand from clients in the medical and healthcare areas who were facing similar challenges and demands to that of education. The Healthcare Division specializes in assisting companies in the life sciences and healthcare industry to grow and enter new markets.
The Hearth provides advisory services in:
Business Development and Growth
Commercialization of product/services, go-to-market strategy and implementation, regulatory process, and local product/service adaptation.
The Hearth works with investors across Europe, Asia and the Americas who specialize in healthcare and education, understanding the investor and company needs, matching smart growth funds to the right portfolio companies.
The Hearth works closely with governments and specializes in public private partnerships, bringing the right solutions to countries with either a profit or non-profit structure.
The Hearth Healthcare Incubator
The Hearth has set up a healthcare incubator that offers companies advisory services and board level oversight. The Hearth Healthcare Incubator works closely with innovation labs, med-tech incubators and university hubs to foster and promote new companies and facilitate international market entry.
The current areas of focus are:
- Med-tech services
- Diagnostic devices
- Big data/AI solutions
- Online learning for life science and healthcare
Healthcare and Education are both fundamental services necessary for society and are basic human rights. Traditionally, these social infrastructure services have been provided by the state and are regarded as public goods. However, the private sector in both these industries have stepped up to accelerate change and implement effective and lasting solutions.
Innovation, policy change, funding and technologies are transforming these two sectors in similar ways and there are lessons and experience that are mirrored between the two. The same issues of resistance to change, cultural, regulatory, access and cost exist, along with the challenges of identifying solutions that can be easily implemented on a large scale.
The Hearth Healthcare Division addresses some of the key challenges in the sector.
Impact of technology
How to effectively use the technology available to yield results? How to support (not replace) teachers and physicians and improve outcomes?
Power of the brand
In Healthcare, as in education, a strong brand brings comfort and an expectation of quality to consumers. Industry validation, academic and published materials, evidence of results influence consumption and buy-in to a company’s brand.
How to make Public Private Partnerships (PPP) work
The Hearth team has effectively built and supported PPPs in the education sector for decades. It is using its experience in dealing with governments globally to facilitate Healthcare private sector providers to work with public bodies. The PPPs allow the deployment of products and services, providing solutions that allow positive change. The private sector brings innovation, funding, and the flexibility which the public sector is sometimes constrained in providing.
For-Profit or Not-for-Profit
As in the education sector, Healthcare can be profitable for investors and innovators, while providing the social benefits and services to lower income households. It is a misconception that a social infrastructure provision and service needs to be purely charitable for it to provide social value. The Hearth has developed several ventures where the overall socio-economic benefits and the effective costs to consumers have been better through private provision or PPPs rather than through public sector monopolies.