WOONSOCKET, R.I., April 29, 2021 /PRNewswire/ -- CVS Health
(NYSE: CVS) today announced the launch of 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 S. Lynch, President and
CEO, CVS Health. "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 has already 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, Executive Vice
President, Enterprise Strategy & Business Development, CVS
Health. "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."
Additional information on CVS Health Ventures and its leadership
team can be found at cvshealth.com/ventures.
About CVS Health
We are a diversified health services
company with more than 300,000 employees united around a common
purpose of helping people on their path to better health. In an
increasingly connected and digital world, we are meeting people
wherever they are and changing health care to meet their needs.
Built on a foundation of unmatched community presence, our
diversified model makes us an integral part of people's everyday
health. From our innovative new services at HealthHUBTM
locations, to transformative programs that help manage chronic
conditions, we are making health care more accessible, more
affordable and simply better. Learn more about how we're
transforming health at www.cvshealth.com.
Cautionary Statement Concerning Forward-Looking
Statements
The Private Securities Litigation Reform Act of
1995 provides a safe harbor for forward-looking statements made by
or on behalf of CVS Health Corporation. By their nature, all
forward-looking statements are not guarantees of future performance
or results and are subject to risks and uncertainties that are
difficult to predict and/or quantify. Actual results may differ
materially from those contemplated by the forward-looking
statements due to risks and uncertainties described in our
Securities and Exchange Commission ("SEC") filings, including those
set forth in the Risk Factors section and under the heading
"Cautionary Statement Concerning Forward Looking Statements" in our
most recently filed Annual Report on Form 10-K. You are cautioned
not to place undue reliance on CVS Health's forward looking
statements. CVS Health's forward-looking statements are and will be
based upon management's then-current views and assumptions
regarding future events and operating performance, and are
applicable only as of the dates of such statements. CVS Health does
not assume any duty to update or revise forward-looking statements,
whether as a result of new information, future events,
uncertainties or otherwise.
Media Contact
Ethan
Slavin
860-273-6095
SlavinE@cvshealth.com
CVS Health Ventures Contact
Jason Hawbecker
401-770-8723
Jason.Hawbecker@cvshealth.com
Investor Relations Contact
Katie Durant
401-770-6442
Katherine.durant@cvshealth.com
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SOURCE CVS Health