May 9, 2021

Knews

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SVS will launch a $ 100 million prize fund

CVS Health is creating a new corporate partnership fund. The so-called CVS Health Venture starts at $ 100 million.

To begin with, the fund will focus on start-up investments that could benefit strategically from CVS, including thousands of stores and Athens and Kermark customers. The CVS leadership also emphasized consumer-oriented innovations in a press release on Thursday.

“Consumers need to have better health experiences. Digital-supported solutions,” CVS President and CEO CVS Lynch said in a news release. Establishing CVS Health Ventures builds on our success story by expanding innovation and making a difference in health care.

The new fund will be led by Josha Flum, Vice President of CVS Enterprise Strategy and Business Development.

“We have a lot of experience in investing in creative companies,” he said. We build on this experience by providing capital to our beginners and private partners and moving them quickly in business relationships with our business units.

Some examples from previous investments include unity, a Getting Started Focuses on Health Inspectors And the start of care diagnostics LumiraDx. In all, CVS and Athens invested more than 20 start-ups.

Corporate partnerships play an important role, especially in health care investment. Last year, Blue Cross Blues, Optum Venture and Fidel were among the major health technology investors in the deal. According to a report by Silicon Valley Bank.

Photo credit: Justin Sullivan / Getty Images

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