Last month it was announced that DST Systems has partnered with a California venture capital firm. Together, the two have a shared goal of launching 2-4 healthcare startups, according to the Kansas City Business Journal. DST Systems is a Kansas City-based corporation that provides information technology and outsourced business operations to the financial and healthcare industries.
Frost Data Capital, located in San Juan Capistrano, Calif., has both a business incubator program as well as access to venture capital investments. The firm seeks strong partnerships, like the one just linked with DST Systems, in order to foster new ideas for startups – and then brings those ideas to life. According to the Kansas City Star, the new companies that DST Systems and Frost Data Capital plan to launch would focus on boosting innovation in health care and further developing the use of big data in the industry.
DST Systems years of experience investing in startup companies and was an early investor in Euronet Worldwide Inc. The Leawood, Kan., based company is a global leader in providing electronic payment and money transfer services as well as maintaining a global ATM network. This deal also included a venture with Wal-Mart stores, according to the Kansas City Star.
DST Systems has worked with numerous healthcare companies in the past through subsidiaries DST Health Services and Argus Health Systems. Marc Palmer, President of Argus, says the potential exists for the company to acquire one of the startups created as a result of the partnership.