New $30 Million Venture Capital Fund to Spur Innovation in Heart Disease and Stroke Care
American Heart Association and co-investors Philips and UPMC to fund pioneering health care products and solutions for patients, scientists and providers through Cardeation Capital venture capital fundDALLAS, May 17, 2018 – With cardiovascular disease on the rise and costs heading to $1 trillion in the U.S., groundbreaking developments in diagnostics, treatments and care are urgently needed. To assure that effective innovations are rapidly introduced into the health care system to benefit patients, and with evidence to demonstrate their impact, the American Heart Association, together with Philips and UPMC, today announced the launch of Cardeation Capital, a $30 million collaborative venture capital fund designed to spur health care innovation in heart disease and stroke care. Managed by Aphelion Capital, each of the three organizations has committed $10 million to the fund to bring products and solutions to market that address critical areas of health care delivery and health management.
Cardeation Capital will invest in emerging health care companies that can measurably impact the prevention and treatment of cardiovascular diseases and stroke and their risk factors, including diabetes. Aphelion Capital, a leading health care and medical technology venture capital firm, brings substantial medical and health system knowledge and extensive networks to enhance returns for the fund and the entrepreneurs in whom the fund invests over the long term.
The American Heart Association – the world’s leading voluntary health organization devoted to fighting cardiovascular disease – is committed to forming strategic partnerships and values the power of collaboration to advance its mission. By combining emerging technologies with groundbreaking science, Cardeation Capital is just one example of how the Association is accelerating innovation in health care.
Through this novel venture fund, the American Heart Association and its co-investors will work closely together to identify and fund best-in-class health care technology companies with scalable products and services. …