Cincinnati Children’s named one of nation’s most innovative companies by Fortune

Wednesday, March 29, 2023

Pediatric cardiologist Ryan A. Moore, MD, is part of a team in the Heart Institute at Cincinnati Children’s that has been leading the way in the use of virtual reality for planning complex cardiovascular procedures. This gives doctors a unique perspective in how they are able to look at and interact with the heart, opening up a new frontier in surgical planning.

Cincinnati Children’s has been named One of America’s Most Innovative Companies by Fortune – and ranks the highest of any children’s hospital in the nation.

“Cincinnati Children’s is a hub for medical innovation,” said Abram Gordon, vice president of Innovation Ventures, the hospital’s tech transfer and commercialization office. “We have a long history of creating, developing or testing vaccines and medical devices and are forging ahead of the curve with new small molecule and organoid research. Each idea represents the experience and ingenuity of our employees.”

More than 17,300 people work at Cincinnati Children’s, and nearly one-third are engaged in research.

“Our innovators are developing breakthroughs in nearly every area of life sciences from therapeutics to medical devices and digital solutions – sometimes it’s a vaccine or a therapeutic to treat cancer, sometimes a medical device such as a neonatal MRI, or even using virtual reality to plan a cardiology procedure,” Gordon said. “Each idea matters and represents the potential to improve care or save lives.”

Of the 300 most innovative companies recognized by Fortune for 2023, Cincinnati Children’s was ranked No. 76.

At any given time, Cincinnati Children’s Innovation Ventures has about 500 projects in its pipeline, Gordon said. The innovations are generated by scientific researchers and those on the front lines such as physicians and nurse practitioners, whose creative ideas often turn into improved care for patients of Cincinnati Children’s as well as kids throughout the world.

Highlights over the past 10 years at Cincinnati Children’s Innovation Ventures include:

• 1,774 new invention disclosures
• 1,885 patent applications filed
• 628 patents issued
• 230 licenses executed
• 15 active start-up companies
• 117 commercialized products/tools

Such innovations have helped create numerous jobs with spinout companies, other startups, and established firms that license Cincinnati Children’s technology.