HealthTech Arkansas and MedAxiom announced Monday (May 16) that they will collaborate on a new cardiovascular-focused healthcare accelerator called HeartX.
The startup program will facilitate guaranteed hospital pilot projects and clinical trials for accomplished, early-stage companies bringing new cardiovascular innovations to market. Companies accepted will also receive $150,000 of investment capital.
Applications for the 2022 HeartX cohort are now open and companies will be selected by Sept. 30, 2022, according to the groups. The program is seeking companies in three categories: digital health and software, medical devices and diagnostic platforms.
HealthTech Arkansas is in its fifth year of administering accelerator programs focused exclusively on provider engagement with early-stage companies. It works with both Arkansas-based and out-of-state companies. MedAxiom is a cardiovascular community source for organizational performance solutions.
“The wonderful part of this collaboration is that it leverages the strengths of each of our organizations,” said Jeff Stinson, director of HealthTech Arkansas. “We have proven competencies in delivering guaranteed hospital pilot projects and clinical trials, and MedAxiom brings a national network and an impressive array of services for early-stage cardiovascular companies. We’re excited about our ability to deliver tremendous value for healthcare startups and for our health system partners.”
“MedAxiom has a strong focus on both innovation and supporting the healthcare start-up community,” said Joseph Sasson, MedAxiom’s executive vice president of Ventures. “MedAxiom has found a strong partner in HealthTech Arkansas and together we will be able to provide the guidance, investment, exposure and industry reach that can accelerate start-ups from pilots to full commercial scale. We look forward to working together to foster innovation and promote the widespread adoption of valuable technologies and services in the cardiovascular domain.”
The Arkansas Economic Development Commission awarded a grant to HealthTech Arkansas through a program designed to increase acceleration activities in targeted industries in the state. The program is conducted in partnership with 12 healthcare providers — Arkansas Heart Hospital, Arkansas Children’s Hospital, Arkansas Urology, Baptist Health, CHI St. Vincent, Conway Regional, Mercy, Northwest Health, OrthoArkansas, St. Bernards Healthcare, University of Arkansas for Medical Sciences (UAMS), and Washington Regional Medical Center.
HeartX will replace the current cardiovascular-focused accelerator led by HealthTech Arkansas.