UPMC syncs up to $30m cardiovascular fund

May 21, 2018 •

Cardeation Capital has raised $10m each from UPMC, Royal Philips and American Heart Association to make investments aimed at fighting cardiovascular disease and stroke.

University of Pittsburgh Medical Center (UPMC) invested $10m on Thursday in the new $30m healthcare-focused fund Cardeation Capital.

Electronics and healthcare technology firm Royal Philips and non-profit organisation American Heart Association (AHA) also contributed $10m each. The fund will be managed by venture firm Aphelion Capital.

The fund will focus on health management and healthcare delivery businesses that improve the prevention and treatment of cardiovascular diseases and stroke, as well as related conditions such as diabetes.

Cardeation did not confirm…

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