In this era of venture philanthropy, nonprofits like the American Heart Association have a reach that extends far past basic fundraising and grant-doling.
AHA CEO Nancy Brown outlined the organization’s strategic expansion plans at MedCity’s Mid-America Healthcare Venture Forum this week in Chicago.
The AHA’s new Science and Technology Accelerator, for instance, is one of the organization’s most compelling business approaches. It has helped fund three programs: Diagnostics startup Cytovas, diabetes therapeutics startup Biokier, and predictive analytics platform ePRISM.
When Investment Rhymes with Canada
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
One of its key initiatives is company wellness – working with employers to make sure their workers sustain heart-healthy lifestyles. Called CEORT – or CEO Roundtable – the program helps executives tailor workplace health initiatives to their respective companies.
“Thanks to the ACA, suddenly healthcare became a CEO issue,” Brown said.
Another arm of its business strategy is a for-profit “healthy living business,” and a number of precision medicine initiatives underway, which it could potentially monetize down the road.
After all the AHA offers, Brown said, its strong brand, its science and its grassroot efforts to improve cardiovascular health.
“We are, first and foremost, a philanthropy, but we know our donors want more from us,” Brown said. “So we’ve been diligent that our business has linkage but no conflict of interest.”
