Allegheny Health Network partners with company to connect investors, mentors with entrepreneurs

Allegheny General Hospital Suburban campus in Bellevue will be the home of a new health care and life sciences accelerator.

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Allegheny Health Network is partnering with Innovation Works to bring AlphaLab to the AGH Suburban to connect entrepreneurs with investors, mentors and needed resources. It will look to seed four business categories including diagnostics, therapeutics, medical devices, and health information technology.

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“AlphaLab accelerators specialize in helping great entrepreneurs build great companies,” said Innovation Works President and CEO Rich Lunak. “Marrying our capabilities to AHN’s health care expertise will benefit founders, who can test their concepts with clinicians, researchers, and operational experts on an accelerated timeline. This will result in better health care products and greater capital efficiency as they scale their businesses and find the right product-market fit.”

Companies will need to apply to be part of the program and that application process is open now on the AlphaLab website. https://alphalabhealth.org/

The inaugural program cycle is expected to work with six companies. As more cycles come, AlphaLab expects to create hundreds of jobs.

Once completed, the facility will house labs, offices and conference areas for companies in the program at AGH Suburban.

“Suburban has been a fixture in Bellevue for more than a century, and we are extremely pleased to be able to creatively reuse this space for the benefit of the community and Western Pennsylvania’s life sciences sector,” said Jeffrey Cohen, MD, AHN’s Chief Physician Executive for Community Health and Innovation. “We believe AHN’s partnership with Innovation Works will spur further economic development in this region, and contribute to a stronger investment ecosystem for all health care entrepreneurs.”

The design for the facilities is being finalized. No date has been announced for construction and completion yet.