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There's a 10,000-mile gap between the US and the Philippines when it comes to health careand it's about to be filled by a US venture fund.
GMA Ventures, a wholly-owned investment arm of the Philippines' GMA Network, has teamed up with Wavemaker Three-Sixty Health, a US venture fund focused on early-stage health care startups, to help bridge that gap, the Manila Times reports.
"The health-tech industry is starting to boom in the Philippines and there's a growing need for new ideas, innovative companies and business leaders who want to make an impact," Wavemaker 360's general partner says.
GMA says it plans to help US-based early-stage health care companies expand to Southeast Asia, while Wavemaker plans to help startups in the Philippines expand to the US.
"The partnership between GMA Ventures and Wavemaker 360 will help young companies across the health-tech sector gain much needed financial support to penetrate this growing market and bring life-changing innovations to patients, doctors, nurses, and all others who intersect within the healthcare field," GMA's CEO says.
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