Montecito acquires joint venture shares of Scout Insight from SwitchPoint; Companies continue partnership to develop AI solutions for healthcare providers
Nashville, Tenn. — Montecito Medical, a leader in healthcare real estate, and SwitchPoint Ventures, an award-winning AI venture studio, have announced that Montecito has acquired SwitchPoint’s interest in Scout Insight, their prop-tech joint venture. Scout Insight is the first of several AI initiatives that SwitchPoint and Montecito are introducing to the healthcare industry.
“Many years ago, Montecito made a significant investment in a proprietary data solution because we wanted to take our analytical capabilities to multiple levels above the status quo,” said Chip Conk, CEO of Montecito Medical, which has been recognized by GlobeSt.com as a key influencer in healthcare real estate for four consecutive years
“That ethos is what led us to work with SwitchPoint, a technology leader with a reputation for excellence in partnering with other businesses to enable smarter decisions. Now, we rely on Scout Insight every day to guide and accelerate multimillion-dollar decisions.”
“We believe that innovation stems from a growth mindset,” said Ray Guzman, CEO of SwitchPoint.
“The visionary quality of Montecito’s team has been key to what we have been able to achieve with Scout Insight. Our successful exit from Scout Insight is meaningful to us because it signifies that we created something powerful for our partner.”
Increasing success for healthcare real estate investments
Montecito and SwitchPoint joined forces in 2020 to create a data-driven market research and analytics system that would sharpen Montecito’s evaluations of medical real estate investments.
Scout Insight is the fruit of that partnership, an artificial intelligence engine that now guides all of Montecito’s real estate acquisition and development decisions. The system contextualizes vast amounts of interrelated data involving physicians and their practices, medical office properties, socioeconomic/demographic data, and projections for medical markets.
Montecito has grown to become one of the largest privately held acquirers of medical office real estate in the country, in part because of the competitive advantage it has gained by embracing innovative technologies.
“We have always followed a simple credo: Physicians take care of everyone; Montecito takes care of physicians,” said Conk. “Our objective is to change the medical real estate field by making it physician-centered rather than transaction-centered. We want to move beyond traditional industry silos and create an entirely new field devoted to helping physicians build wealth through real estate while building stronger practices for their patients. SwitchPoint’s tech expertise and partnership model have been instrumental in helping us further our mission.”
Doubling down on technology collaboration
The sale of Scout Insight validates a vision shared by Montecito and SwitchPoint, and it represents the first step in a collaborative path that the companies are taking together.
“Scout Insight is the beginning of what we anticipate will be a long, mutually rewarding relationship between our organizations,” said Guzman. “It is yet another example of how companies at the intersection of healthcare and technology in Nashville are collaborating in new ways, adding to the energy of this unique business community and creating benefits for their stakeholders and their clients.”
“The proximate relationship we enjoy with our provider partners gives Montecito an unparalleled view of the needs and opportunities in the healthcare industry,” said Conk. “With our adept and versatile technology partner, SwitchPoint, by our side, we see myriad ways to deliver value to our provider partners, as well as to the patients and communities they serve.”
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About Montecito Medical
Montecito Medical is one of the nation’s largest privately held companies specializing in healthcare-related real estate acquisitions and funding the development of medical real estate. Montecito is a leading resource for both medical real estate owners and healthcare providers seeking to monetize or expand their holdings. Since 2006, it has completed transactions across the United States involving more than $5 billion in medical real estate. Headquartered in Nashville, Montecito has been named for four consecutive years as a “key influencer in healthcare real estate” by GlobeSt.com and the editors of Real Estate Forum. For more information about Montecito Medical, please visit www.montecitomac.com.
About SwitchPoint Ventures
SwitchPoint Ventures is an artificial intelligence-focused venture studio based in Nashville that partners with business leaders across industries to drive rapid technological innovation. By harnessing the power of data and technology, SwitchPoint’s renowned data science team builds solutions that tackle problems, maximize potential, and support smarter, more profitable business decisions. Learn more at www.switchpointventures.com.
