Health2047 Inc., a Silicon Valley-based integrated innovation company, has announced a $27.2 million follow-on investment from its founding partner, the American Medical Association (AMA).

Health2047 officials said in the announcement that it will use the new funds to “ramp up the development and commercialization of promising new technology-based solutions in the areas of chronic disease reduction, radical productivity change, and value-based healthcare, just as it did in data liquidity with the 2017 spin out of new health data network company, Akiri.”

Akiri, a San Francisco-based spinoff of Health2047, announced earlier this year that it would be launching a blockchain-based network-as-a-service (NaaS) platform to the entire healthcare industry.