Earlier this month we announced our partnership with Philips and the American Heart Association (AHA) to launch Cardeation Capital, a $30 million collaborative venture capital fund designed to spur health care innovation in heart disease and stroke care. With cardiovascular disease on the rise and associated costs heading to $1 trillion in the U.S., strategic investments are much needed now.
The Pittsburgh Post-Gazette cited the partnership as an example of the ways UPMC Enterprises is making positive contributions to the Pittsburgh region. In an editorial, titled “Health investments: UPMC venture capital arm adds strength to city,” the newspaper highlighted the work done through partnerships at UPMC Enterprises as helping to create opportunities today, but also shaping the future of the city.
Through Cardeation Capital, the AHA, Philips, and UPMC Enterprises, which is working closely with UPMC Heart and Vascular Institute, will identify emerging companies. The fund will be managed by Aphelion Capital, a leading health care and medical technology venture capital firm.
“This collaboration will work together to identify the best health care technology companies with scalable products and services that can impact the prevention and treatment of cardiovascular diseases and stroke and their risk factors,” UPMC Enterprises President Tal Heppenstall said.
