The Innovation Institute Announces Deloitte as Sponsor and Collaborator for its Innovation Lab in Newport Beach

2000px-Deloitte_svgNewport Beach, Calif. – August 11, 2015 – The Innovation Institute today announced that Deloitte & Touche LLP has signed an agreement to become a sponsor and collaborator for The Institute’s Innovation Lab in Newport Beach, Calif.

The Institute, an independent for-profit corporation, facilitates innovation among physicians and employees across major health care organizations. Through its Innovation Lab, medical product and delivery ideas are vetted with the best ones receiving further development for introduction into the health care industry.

Deloitte will advise the lab in navigating the complexities of the U.S. and global health care systems, drawing upon research and reports from the Deloitte Center for Health Solutions. The Innovation Lab in turn will facilitate collaboration among Deloitte, inventors and like-minded organizations to focus on implementing value- and evidence-based health care models.

“We will collaborate with the Lab to develop and adopt strategies and approaches that improve the effectiveness of our health care system,” said Kevin Wijayawickrama, principal, Deloitte & Touche. “We are pleased to have the opportunity to work with The Innovation Institute, whose values reflect those of Deloitte.”

The Innovation Institute President and Chief Executive Officer Joe Randolph said, “We look to Deloitte for their expertise as we embrace a care model that leverages emerging technologies to transform delivery.”

The Institute’s Innovation Lab Executive Vice President Larry Stofko said, “With Deloitte as a collaborator, we see a future of transformation through innovation that empowers patients and enhances provider capabilities.”

About The Innovation Institute
The Innovation Institute is an independent, for-profit LLC structured to cultivate innovative solutions to transform healthcare delivery. The Innovation Institute is owned by non-profit health systems. This collaborative taps into physicians, employees, and industry business partners to incubate and commercialize new medical products and ideas. Comprised of three distinct elements – an innovation lab, an investment fund, and a shared services group (Enterprise Development Group), The Institute strives to “do more, with less, for more people.” For more information, visit

About Deloitte’s Life Sciences and Health Care practice
Deloitte’s life sciences and health care practice brings fresh insight to clients and industry stakeholders. Deloitte offers a distinctive menu of professional services delivered in an integrated approach that address many segments of the health plan, health provider and life sciences industries. For more information, visit

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