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HLM Venture Partners appoints healthcare veteran Steve Tolle as newest partner to accelerate and expand key investment areas

Tolle brings AI expertise to HLM’s proven investment model in clinical decision support, advanced diagnostics, behavioral health, and evidence-based care

BOSTON, September 26, 2019-- HLM Venture Partners announced today that it has named Steve Tolle as its newest partner. Tolle will play a major role in the firm’s investment decisions, fundraising, and guidance to entrepreneurs. Prior to joining HLM, he served as Chief Strategy Officer at Merge Healthcare, which was acquired by IBM in 2015. After managing this sale, Tolle was named Vice President of Global Strategy & Business Development at Watson Health Imaging, where he contributed to more than $2 billion in strategic M&A deal opportunities before joining the team at HLM.

“Steve’s background in artificial intelligence, medical imaging, and molecular diagnostics make him a perfect fit as the next partner to join HLM,” said Peter Grua, partner at HLM. “Demographic, technological, and policy-driven changes are transforming our industry, and a new wave of AI-driven platforms is coming. Steve’s experience working in these fields – as well as his business acumen and drive – will continue to position HLM as a leading investment firm in healthcare technology for years to come.”

At IBM Watson Health, Tolle focused on commercializing cognitive and machine learning platforms for medical imaging. At Merge Healthcare, a leading provider of innovative artificial intelligence, enterprise imaging, and interoperability solutions, he successfully streamlined the company’s solution portfolio, resulting in multiple Best in KLAS awards.

“Given HLM’s history as one of the earliest pioneers in digital health and its commitment to the future of the industry, joining this firm is a natural next step for me,” said Tolle. “As we prepare for the next generation of healthcare tech, we’re going to be looking closely at familiar categories like behavioral health, consumer engagement, and precision medicine, but at the same time we need to keep an eye on the future.

“Unprecedented change is underway in healthcare thanks to the decentralization of care, advancements in predictive analytics, and the morphing of traditional industry silos. There are many creative, dedicated minds harnessing these dynamics to reduce costs and enhance quality, and it’s our duty to elevate the best of the best by helping to solve their most difficult business model and customer needs.”

Tolle has also served as Senior Vice President/General Manager at Optum, Vice President of Product Management at Allscripts, and Director of Product Management at Pfizer.

About HLM Venture Partners

HLM Venture Partners is a leading venture capital firm providing capital to emerging companies focused on healthcare information technology, tech-enabled healthcare services, and medical devices. HLM has more than $500 million of venture capital under management and works with the leading growth companies that are improving the quality of healthcare while reducing overall costs. HLM supports entrepreneurs as they turn innovative ideas into market-leading businesses, offering guidance on financial structuring, resource allocation and deployment, strategic planning, strategic introductions, and recruitment. HLM has been a lead investor in some of health care’s most innovative companies including: AbleTo, Binary Fountain, Change Healthcare, ClearDATA, Teladoc, Nordic Consulting, ArroHealth, TYRX Medical, MedVentive, Phreesia, Trizetto, and Healtheon. For more information, please visit

Samantha Pierce
Senior Account Supervisor, ReviveHealth
M: (716) 553-3882

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