AMA funnels $27.2M into health tech innovation enterprise

The American Medical Association invested $27.2 million in Health2047, a Menlo Park, Calif.-based innovation enterprise focused on developing technologies that support value-based care, data liquidity, chronic care and physician productivity.

The AMA is a founding partner of Health2047, and this is its second investment in the tech enterprise. Back in 2016, the AMA doled out $15 million to Health2047, according to the Chicago Tribune.

The news of the investment comes alongside the appointment of new CEO Lawrence Cohen, CFO Gary Cookhorn and three managing directors.

"This new investment will help us create much-needed changes in the U.S. healthcare system," Mr. Cohen said in a statement. "Our growing team collaborates closely with both the physician community and technology leaders to tackle key problem areas. We will deploy this new investment to broaden our network of strategic partners and accelerate the pace at which we are able to develop and spin out new businesses in our four areas of focus."

Health2047 plans to use the funds toward technologies that will address chronic disease challenges, productivity and value-based care, building off its past successes in the healthcare space. In 2017, Health2047 spun off Akiri, a network-as-a-service company that enables customers to share health data in a private, subscription-based network.

 

Editor's note: This article was updated May 5, 2018 at 11:15 a.m. CST to reflect that Health2047 is an innovation enterprise, not an incubator, with a diverse focus area including value-based care, data liquidity, chronic care and physician productivity, rather than just value-based care. We regret this error.

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