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04/30/2021

CVS Health launches $100M venture fund

CVS Health Ventures wlll focus on high-potential, early-stage companies that strive to make health care more accessible and affordable for consumers.
Sandra Levy
Senior Editor
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CVS Health is launching CVS Health Ventures, a dedicated corporate venture capital fund that will invest in and partner with high-potential, early-stage companies focused on making health care more accessible, affordable, and simpler.

"Consumers deserve a better health experience, one that puts them at the center of cutting-edge, digitally enabled solutions," said Karen Lynch, CVS Health president and CEO. "Forming CVS Health Ventures will build on our successful track record of scaling innovation and driving change in health care."

The fund will initially launch with $100 million allocated for investments and will focus on companies with the potential for technology-enabled innovation and disruption in digital health care that are anchored in CVS Health's core strategy. CVS Health Ventures will build relationships with early-stage companies via investment as well as by offering expertise and insights from CVS Health's unique perspective.

CVS Health already has made more than 20 direct investments through the CVS and Aetna businesses. These investments have delivered consistently strong returns and partnerships. Current investments include Unite Us, a technology platform that connects health care and social services providers, and LumiraDx, an innovative point-of-care diagnostic platform.

"We have deep experience investing in innovative companies," said Josh Flum, CVS Health executive vice president, Enterprise Strategy & Business Development. "We will build on this experience by providing capital to our start-up and venture partners and helping them scale more rapidly through commercial relationships with our business units. This is an exciting opportunity to accelerate innovation and effectively bring new solutions to the consumer health space."

 

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