Ajax Health Teams Up with KKR to Combat Heart Failure
Ajax Health and KKR Collaborate on Heart Failure Solutions
Ajax Health, supported by KKR, has formed a new platform called FlowMod, focusing on innovative treatment options for heart failure. This condition is a pressing health issue globally, significantly affecting the heart's ability to pump blood effectively. Today, approximately 64 million individuals suffer from heart failure, highlighting the importance of advancements in this medical field.
Formation of FlowMod
FlowMod emerges from a strategic partnership involving Ajax Health, KKR, and Boston Scientific Corporation. This collaboration leverages valuable intellectual property from Boston Scientific to expedite the development of groundbreaking technologies aimed at treating heart failure. The combined strengths of these organizations underline a shared commitment to enhance the care provided to patients with this serious health condition.
A Collaborative Vision
CEO Duke Rohlen of Ajax Health expressed enthusiasm about this venture, especially following the recent advancements from the Cortex transaction with Boston Scientific. He emphasized the potential for FlowMod to bring innovative therapies to the millions affected by heart failure each year, stating that this initiative could represent a significant leap in treatment methodologies.
Expert Leadership at FlowMod
Dr. Philippe Marco will lead FlowMod as Chief Executive Officer. He brings extensive experience from his previous roles at Epix Therapeutics and CV Ingenuity, both of which received pre-market approvals for pioneering cardiovascular devices under Ajax Health's umbrella. Dr. Marco’s leadership is poised to navigate FlowMod toward achieving impactful solutions in heart failure treatment.
A Promising Future
Dr. Marco conveyed his excitement about reuniting with both Ajax Health and KKR, eager to create advancements that can significantly improve patient outcomes. The team's collaborative efforts aim not just to innovate but to ensure that the solutions developed are viable and effective in clinical settings.
KKR's Investment in Health Care Innovation
KKR's investment in FlowMod is routed through its KKR Health Care Strategic Growth Fund II, a substantial fund totaling $4.0 billion, specifically set up for high-growth healthcare ventures. This alignment reinforces KKR's strategic focus on fostering innovation in the healthcare sector, which is vital for addressing pressing medical needs like heart failure.
About Ajax Health
Ajax Health stands out as a comprehensive growth platform for companies in the commercial-stage medtech sector. The expertise of the Ajax team spans years of hands-on experience as entrepreneurs, operators, and investors. Their mission is to drive value for strategic partners by crafting tailored product portfolios through innovative business models and unique deal structures. Headquartered in Menlo Park, CA, Ajax Health also has strategic offices in major cities across the U.S.
About KKR
KKR is a globally recognized investment firm renowned for its alternative asset management and capital markets solutions. Its strategy revolves around generating attractive investment returns while supporting growth in portfolio companies and communities. Handling assets across various sectors, KKR focuses on private equity, credit, real assets, and has a strong presence in the healthcare investment landscape.
Frequently Asked Questions
What is FlowMod?
FlowMod is a new entity formed by Ajax Health, KKR, and Boston Scientific aimed at developing innovative systems for treating heart failure.
How does FlowMod plan to help heart failure patients?
FlowMod intends to accelerate the creation and regulatory approval of advanced treatment options for heart failure, benefiting millions of patients globally.
Who is leading FlowMod?
Dr. Philippe Marco has been appointed as the Chief Executive Officer of FlowMod, bringing in vital experience from his previous leadership roles in cardiovascular device companies.
What is KKR’s role in FlowMod?
KKR is investing in FlowMod via its Health Care Strategic Growth Fund II, focusing on fostering growth and innovation within the healthcare sector.
How many people are affected by heart failure worldwide?
Currently, heart failure affects approximately 64 million people around the globe, underscoring the need for improved treatment options.
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