Amsterdam, the Netherlands and 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.