GRAND RAPIDS — Spectrum Health Ventures LLC was among the lead investors that invested $10.3 million in Vynca Inc., a Palo Alto, Calif.-based provider of advanced care planning.
The venture capital arm of Grand Rapids-based Spectrum Health invested $1 million in the Series B capital round, which also included First Trust Capital Partners LLC in Wheaton, Ill., Chicago-based OCA Ventures, and other strategic investors.
Dr. Scott Lancaster, clinical director for Spectrum Health Ventures, joined the Vynca board as an observer.
The capital will fund new product development and the company’s expansion into new geographic markets, according to a statement.
“Spectrum Health Ventures supports innovations that can reduce cost, improve quality, and increase patient engagement and satisfaction,” Lancaster said. “We are proud to partner with Vynca, whose impressive growth and innovative platforms are providing national leadership by reflecting patient preferences for end-of-life care.”
Founded in 2013, Vynca developed a software platform for advanced planning for end-of-life care decisions when a patient is unable to speak for themselves. The electronic records are accessible across the care continuum.
Vynca partners with more than 80 hospitals, plus health plans, accountable care organizations and five state registries.