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May 17, 2018

Philips invests $10 million in Cardeation Capital to combat heart disease

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Nick Pappas

Nick Pappas

Managing Partner, Venture Investments

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New venture capital fund focuses on improving care for heart disease and stroke

 

Rates of cardiovascular disease are rising and costs are approaching $1 trillion annually in the United States. To ensure that effective innovations are rapidly introduced into the healthcare system, Philips, the American Heart Association and UPMC have partnered to create the $30 million Cardeation Capital venture capital fund.

 

The new fund will invest in emerging healthcare companies that can measurably affect the prevention and treatment of cardiovascular diseases and stroke — and their risk factors, such as diabetes. Cardeation Capital’s investors will fund best-in-class technology companies with scalable products and services that address healthcare delivery and health management.

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