The Innovation Institute

The Innovation Institute was formed in November 2012, with a seed investment of $40 million from the St. Joseph Health System. In October 2013, Bon Secours Health System based in Marriottsville, Maryland became its second member owner. In May 2014, California Institute of Technology (CaltechCaltech) signed a memorandum of understanding (MoU) with the institute that gives The Innovation Institute opportunity to collaborate directly with researchers at Caltech on the development of new healthcare products. In June 2014, the institute formed a new staffing business Far West Staffing Services to provide technical and non-technical support staff.

Healthcare Design & Construction (HDC) is a subsidiary of The Innovation Institute offering construction, architectural engineering and planning services to the national healthcarenational healthcare market. HDC was formed through the acquisition of PDC West, a construction firm based in Orange County, California. In July 2014, HDC partnered with Toshiba America Medical Systems to provide streamlined, custom design and construction housing for Toshiba’s acute care and outpatient diagnostic equipment.