Concord Health Partners and AHA launch new health innovation strategic fund
The American Hospital Association (AHA) has held the final closing of the AHA Innovation Development Fund (AHA Fund), a USD50 million venture capital fund formed to help hospitals and health systems continue to transform health care and deliver cutting-edge care.
The AHA Fund is sponsored and managed by Concord Health Partners, LLC (Concord), a health care-focused investment firm, with the AHA as the anchor limited partner investor. The AHA Fund has made several investments to date in health care companies and will continue to invest in cutting-edge solutions.
The goal of the AHA Fund is to invest in early-stage health care companies that provide products, services and solutions that help hospitals and health systems transform care delivery, spur innovation among members, connect hospitals and entrepreneurs, and drive results.
“All across the country, hospitals and health systems are innovating and transforming to meet the changing needs of their patients and their communities,” says AHA President & CEO Rick Pollack. “The AHA Fund will allow them to invest in the solutions that hospitals and health systems truly need. By finding the right business partners, the AHA Fund can help fund, guide and scale solutions offering the greatest transformational value for hospitals and health systems.”
James Olsen, Founder & Managing Partner of Concord, says: “Concord is focused on identifying and supporting health care companies with solutions that address affordability, quality and access to care. The AHA Fund aligns interests and delivers strategic value to both health systems and portfolio companies. We are excited to be part of this collaborative effort with the AHA to advance and accelerate innovation in health care.”