Royal Philips, the parent company of Philips Healthcare, has launched a $30 million venture capital fund to support healthcare innovation in heart disease and stroke care. The fund is a collaboration between Philips, the American Heart Association (AHA), and the University of Pittsburgh Medical Center.
Each of the three organizations is contributing $10 million to the fund, which is called Cardeation Capital, Philips said. It will be managed by Aphelion Capital and will invest in healthcare companies that affect the prevention and treatment of cardiovascular disease and stroke and their risk factors, including diabetes, according to the firm.
