US-based healthcare services and IT provider McKesson Corporation launched a corporate venturing fund on Wednesday that will invest in early and growth stage companies developing healthcare technology.
The company has not revealed how much cash has been put aside for McKesson Ventures or how much it will invest in each startup, but it will target companies working on technology engaging with healthcare subsectors such as consumerism, alternate delivery models and value-based reimbursement.
John Hammergren, McKesson’s chairman and CEO, said: “McKesson Ventures will help us support the development and commercialisation of innovations taking place across healthcare.
“By investing and partnering with entrepreneurs and other investors that can bring new approaches to the challenges our customers are facing, we will accelerate the innovation cycle and further strengthen the value we provide to industry stakeholders across all segments.”
The unit will be headed by managing director Tom Rodgers, who was previously director of strategic investments at healthcare technology provider Cambia Health Solutions. Rodgers was also vice president of corporate strategy and business development for McKesson before joining venture capital firm Advanced Technology Ventures.