WASHINGTON–(BUSINESS WIRE)–As the health care landscape rapidly evolves, the American Hospital Association (AHA) has been pursuing multiple ways to lead and promote innovation in the field. Today, the AHA is pleased to announce the final closing of the AHA Innovation Development Fund, LP, or “AHA Fund,” a $50 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,” said 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, commented, “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.”

Unlike funds whose only goal is financial return, the goals of the AHA Fund also include:

Providing a source of capital to advance – at an early stage – promising health care technologies and solutions that might not otherwise receive funding;

Creating venture opportunities for members and allied hospital associations, many of whom might not find or create such opportunities on their own;

Allowing hospitals and health systems to enter the venture fund sector and share venture funding best practices; and

Enriching the health care field by the sharing of learnings and solutions.

For more information about the AHA Fund, please contact James Olsen at Concord Health Partners at info@concordhp.com or 212-508-7090.

About the American Hospital Association

The AHA is a not-for-profit association of health care provider organizations and individuals that are committed to the health improvement of their communities. The AHA is the national advocate for its members, which include nearly 5,000 hospitals, health care systems, networks, other providers of care and 43,000 individual members.

About Concord Health Partners

Concord Health Partners is a health care-focused investment firm with a strategic approach that aligns the interests of investors and portfolio companies. Concord invests in companies that have the potential to enhance the value of care through technologies and solutions that lower costs, improve quality and expand access to care.