The American Heart Association is looking to emerging technology to help in its fight against one of the leading global causes of death—cardiovascular disease.
The Dallas-based organization, alongside global health technology giant Philips, announced re-upping their investment in Cardiation Capital, a venture capital fund managed by Aphelion Capital, for its second fund, which reported raising nearly $43 million in an SEC filing.
The association’s CEO, Nancy Brown, says new approaches are “urgently needed” to increase prevention, as well as treatments for people suffering from cardiovascular diseases.
Cardiation eyes health care tech, medical device firms
As with Cardiation’s first fund, the latest will look to invest in health care technology and medical device startups addressing heart disease, strokes, and diabetes, leveraging the AHA’s scientific expertise in the field, Philips’ research and development knowledge, and Aphelion’s strategy of targeting businesses reducing health care costs and wellness products designed for patients.
The newest fund also saw Arizona venture capital and commercialization firm Research Corporation Technologies join as a backer, providing professional and technological development support to companies Cardiation invests in.
In a statement, Brown said the AHA will work closely to identify and fund health care tech companies with “scalable products and services to deliver improved outcomes and improve quality of care.”
Cardiation’s first fund raised $30.1 million
The initial Cardiation Capital fund was launched in 2018, raising a total of $30.1 million, with the AHA, Philips and former collaborator the University of Pittsburgh Medical Center investing $10 million, respectively, in the fund.
In the past, Cardiation Capital has invested in companies like biomarker monitoring technology startup Biolinq, stroke-focused medical device company MIVI Neuroscience, and case management support platform Explorer Surgical Corp.—the latter of which was acquired by Global Healthcare Exchange last October.
Overall, Cardiation’s partners say the goal is to use venture capital to spur innovation in the industry and bring new products, services, and solutions to the market in an effort to improve care and outcomes.
“We are committed to making investments in disruptive technologies needed to dramatically improve the quality and effectiveness of health care and improve the lives of cardiovascular disease and stroke patients,” said Chris Martin, president of Research Corporation Technologies, in the statement.
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