UPMC, Philips and American Heart Association create new venture capital fund: Cardeation Capital

This morning, UPMC announced its partnership with Philips and the American Heart Association 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 costs heading to $1 trillion in the U.S., strategic investments are needed now, more-than ever.

This first-of-its-kind fund is focused on investing in innovative health care products, services, and technologies designed to address critical areas of cardiovascular care. Dr. Joon Sup Lee, co-director of the UPMC Heart and Vascular Institute (HVI), expects that technology startups focused on such areas as prevention and patient education will be part of the fund’s investments, while capital-intensive drugs and devices will not. Cardeation Capital “is really another opportunity to fill some of the gaps in cardiovascular care,” he says.

“As one of the largest integrated health systems in the United States, UPMC is making significant investments in the disruptive technologies needed to dramatically improve the quality and effectiveness of healthcare,” says Tal Heppenstall, president of UPMC Enterprises. “We expect that Cardeation Capital, working closely with our world-renowned clinicians at HVI, will play a critical role in this strategy for the benefit of our patients.”

Press Release: New $30 million venture capital fund to spur innovation in heart disease and stroke care

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American Heart Association, UPMC, and Philips launch $30 million venture capital fund

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