Cardiovascular disease (CVD) is the leading cause of death globally responsible for 17 million deaths each year and is expected to increase to over 23 million deaths per year by 2030. CVD also represents a major economic burden with an annual economic cost of CVDs are estimated to run over $500 billion in the United States alone.
The current rapid pace of innovation is helping to reverse these crippling statistics, and the healthcare industry has seen continued growth in venture capital investment.
To drive that momentum, the American Heart Association and Phillips announce the expansion of Cardeation Capital with the first close of its newest fund, Cardeation II, on June 30. We welcome Research Corporation Technologies, Inc. as our newest partner to help bring products and solutions to market that address critical areas of healthcare delivery and health management.
In 2018, Cardeation Capital launched with a $30 million collaborative venture capital fund designed to drive healthcare innovation in heart disease and stroke care managed by Aphelion Capital.
To date, it has invested in several emerging healthcare companies that are measurably impacting the prevention and treatment of cardiovascular disease and stroke and risk factors, including diabetes, as well as companies driving innovation in the classroom. of the operation. An example of the latter is the Explorer Surgical investment. Acquired by Global Healthcare Exchange (GHX) in October 2021, Explorer Surgical provides a digital case support platform that remotely connects medical device teams with providers and is helping to accelerate product adoption and reinforce best practices during procedures direct.
Entrepreneurs and emerging companies who are interested in funding to create innovative products and solutions to improve the quality of healthcare delivery can apply directly to Aphelion Capital.
New approaches are urgently needed to enhance prevention and treatment strategies to reverse the trend for those already suffering from cardiovascular disease. Through Cardeation Capital, and together with our co-investors, we will work closely to identify and fund best-in-class healthcare technology companies with scalable products and services to deliver improved outcomes and improve quality of care.”
Nancy Brown, CEO, American Heart Association
Richard Wilmot, head of Health Technology Ventures, Philips, added: “At Philips, we are committed to improving people’s health and well-being through meaningful innovation. We have global research and development programs and collaborations to develop the technologies needed to dramatically improve the quality and effectiveness of healthcare Through Cardeation Capital Fund II, we are helping to build a further pipeline of innovative healthcare products, services and solutions that have the potential to improve the lives of patients with cardiovascular disease and stroke.”
According to Chris Martin, President of Research Corporation Technologies, Inc., “We are committed to making investments in the disruptive technologies needed to dramatically improve the quality and effectiveness of healthcare and improve the lives of patients with cardiovascular disease and stroke. in the brain.”