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Royal Philips, AHA, UPMC establish venture fund targeting cardiovascular treatment innovations

Published 18 May 2018

The American Heart Association (AHA), along with Royal Philips and UPMC, has announced the launch of Cardeation Capital, a $30m collaborative venture capital fund designed to spur healthcare innovation in heart disease and stroke care.

Managed by Aphelion Capital, each of the three organizations has committed USD 10 million to the fund to rapidly bring products and solutions to market that address critical areas of healthcare delivery and health management.

Cardeation Capital will invest in emerging healthcare companies that can measurably impact the prevention and treatment of cardiovascular diseases and stroke and their risk factors, including diabetes.

Aphelion Capital, a leading healthcare 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 ground-breaking science, Cardeation Capital is just one example of how the Association is accelerating innovation in healthcare.

Through this novel venture fund, the American Heart Association and its co-investors will work closely together to identify and fund best-in-class healthcare technology companies with scalable products and services. Entrepreneurs and emerging companies who are interested in submitting their innovative products and solutions to improve the quality of healthcare delivery can submit directly to Aphelion Capital.

American Heart Association CEO Nancy Brown said: “New approaches are urgently needed to increase prevention and treatment strategies to reverse the trend for those already suffering from heart diseases, as well as prevent populations from ever getting heart disease.”

Philips Health Technology Ventures head Rich Wilmot said: “At Philips our goal is to improve the lives of 3 billion people a year by 2025. To achieve this ambition, we co-create solutions with healthcare providers, invest in start-ups, and partner with other industry players.”

Source: Company Press Release