North Carolina-based Novant Health, with its 15 hospitals and 700-plus outpatient facilities across the Southeast, announced the launch this week of a new business division it will use to “incubate, innovate and accelerate” technological innovation, said President and CEO Carl S. Armato.

Novant Health Enterprises will operate as an independent business entity within the health system, officials say, with the goal of building partnerships with other healthcare organizations and creating diversified growth.

Building on existing capabilities, NHE will also grow as new service offerings are developed and acquired, they say, with investments and collaborations focused on technology-enabled clinical, financial and operational improvements.

The incubator aims to speed the development of new innovations to drive value across the enterprise, and enable better health outcomes for patients and improved experience for providers.

Novant says the new entity will start by homing on three particular goals areas over the next five years: development of transformational clinical capabilities, expansion into non-acute settings and commercialization of new digital health tools.