Philips invests $10 million in Cardeation Capital to combat heart disease

New venture capital fund focuses on improving care for heart disease and stroke

Rates of cardiovascular disease are rising and costs are approaching $1 trillion annually in the United States. To ensure that effective innovations are rapidly introduced into the healthcare system, Philips, the American Heart Association and UPMC have partnered to create the $30 million Cardeation Capital venture capital fund.

The new fund will invest in emerging healthcare companies that can measurably affect the prevention and treatment of cardiovascular diseases and stroke — and their risk factors, such as diabetes. Cardeation Capital’s investors will fund best-in-class technology companies with scalable products and services that address healthcare delivery and health management.