Dallas, U.S. – With cardiovascular disease on the rise and costs heading to USD 1 trillion in the U.S. , ground-breaking developments in diagnostics, treatments and care are urgently needed. To assure that innovations are introduced into the healthcare system to benefit patients as quickly as possible and with evidence to demonstrate their impact, the American Heart Association, together with Royal Philips (NYSE: PHG, AEX: PHIA) and UPMC today announced the launch of Cardeation Capital, a USD 30 million 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.
“Cardiovascular disease costs are projected to exceed USD 1 trillion by 2035,” said Nancy Brown, CEO of the American Heart Association. “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. Through Cardeation Capital, we expect to deliver better outcomes and improve the quality of healthcare delivery for the people who are counting on us the most.”
“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,” said Rich Wilmot, head of Health Technology Ventures, Philips. “Together with the American Heart Association and UPMC, through the Cardeation Capital venture capital fund we will invest in innovative healthcare products, services and solutions that have the potential to improve the lives of cardiovascular disease and stroke patients.”
“As one of the largest integrated health systems in the United States, UPMC is making significant investments in the disruptive technologies needed to dramatically improve the quality and effectiveness of healthcare,” said Tal Heppenstall, president of UPMC Enterprises, the commercialization arm of UPMC. “We expect that Cardeation Capital, working closely with our world-renowned clinicians at UPMC Heart and Vascular Institute, will play a critical role in this strategy for the benefit of our patients.”
“Our organization is committed to investing in low capital-intensive entrepreneurial opportunities that will improve healthcare quality while reducing costs in our healthcare system,” said Ned Scheetz, founder and managing partner of Aphelion Capital. “Through Cardeation Capital, we aim to strategically invest in a collaborative manner that will leverage the collective knowledge and experience of these top in field global organizations. We look forward to working closely with our partners to address today’s real-world issues associated with healthcare delivery.”
Visit www.aphelioncapital.net for more information.