Venture Fund to Spur Innovation

Today, cardiovascular disease is on the rise and costs are reaching towards $1 trillion in the U.S therefore groundbreaking developments in diagnostics, treatments, and care are urgently needed.

The American Heart Association, along with Philips and UPMC Enterprises, the commercialization arm of UPMC, have launched Cardeation Capital, a $30 million collaborative venture capital fund designed to spur healthcare innovation in heart disease and stroke care.

Each of the three organizations has committed $10 million to the fund to bring products and solutions to market to address critical areas of healthcare delivery and health management.

The fund is to be managed by Aphelion Capital, a healthcare and medical technology venture capital firm. The goal is to bring medical and health system knowledge and extensive networks to enhance returns for the fund and to the entrepreneurs that have invested in the fund over the long term.

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

Ned Scheetz, Founder and Managing Partner of Aphelion Capital said, “Through Cardeation Capital, we aim to strategically invest in a collaborative manner that will leverage the collective knowledge and experience of these top-in-the-field global organizations.”

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