The American Medical Association (AMA) announced a $27.2 million investment in Health2047, an innovation incubator launched by the association in 2016 with a $15 million investment. Since then, the company has spun off Akiri, formerly known as SwitchCo Inc., a platform designed to securely share data across the industry.

“This new investment will help us create much-needed changes in the U.S. healthcare system,” Health2047 CEO Lawrence K. Cohen said in a statement. “Our growing team collaborates closely with both the physician community and technology leaders to tackle key problem areas. We will deploy this new investment to broaden our network of strategic partners and accelerate the pace at which we are able to develop and spin out new businesses in our four areas of focus.”