DALLAS, July 27, 2022
— Cardiovascular disease (CVD) is the leading cause of death worldwide, responsible for 17 million deaths each year and its death toll is expected to reach more than 23 million deaths per year by 2030. Cardiovascular disease is also a burden economic major with the annual economic cost of cardiovascular disease. estimated at over $500 billion in the United States alone.
The current rapid pace of innovation is helping to reverse these crippling statistics and the healthcare sector has seen continued growth in venture capital investment.
To spur this momentum, the American Heart Association and Phillips are announcing the expansion of Cardeation Capital with the first closing of the new fund, Cardeation II, on June 30. We welcome Research Corporation Technologies, Inc. as a new collaborator to help bring products and solutions to market that address critical areas of healthcare delivery and health management.
In 2018, Cardeation Capital was 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, she has invested in several emerging healthcare companies that are making a measurable impact on the prevention and treatment of cardiovascular disease, stroke and risk factors including diabetes, as well as companies that drive innovation in the operating room. An example of the latter is the Explorer Surgical investment. Acquired by Global Healthcare Exchange (GHX) in October 2021, Explorer Surgical offers a digital case management platform that remotely connects medical device teams to suppliers and helps accelerate product adoption and reinforce best practices during live proceedings.
Entrepreneurs and emerging companies seeking 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 augment prevention and treatment strategies to reverse the tide in people already suffering from cardiovascular disease,” said Nancy Brown, CEO of the American Heart Association. “Through Cardeation Capital, and together with our co-investors, we will work closely to identify and fund the best healthcare technology companies with scalable products and services to deliver better outcomes and improve quality of care. .”
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 R&D programs and collaborations to develop the technologies needed to dramatically improve the quality and efficiency of healthcare. Through Cardeation Capital Fund II, we are helping to build a new 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 investing in the disruptive technologies needed to dramatically improve the quality and efficiency of healthcare and improve the lives of patients with cardiovascular disease and cardiovascular disease. ‘stroke. »
Ned Scheetz, Founder and Managing Partner of Aphelion Capital, said his organization is committed to investing in low capital intensive entrepreneurial opportunities that will improve the quality of healthcare while reducing the costs of our healthcare system.