US-based pharmaceutical wholesaler AmerisourceBergen formed a $150m corporate venture capital (CVC) subsidiary dubbed AB Health Ventures yesterday that will target healthcare technology developers.
Formed by a 2001 merger between pharmaceutical and health product distributors AmeriSource Health Corporation and Bergen Brunswig Corporation, AmerisourceBergen distributes healthcare products to manufacturers, pharmacies and providers and has some 42,000 employees globally.
AB Health Ventures will back healthtech entrepreneurial projects at early to mid-stage, focusing on innovative products and services related to pharmaceutical distribution, clinical development, drug commercialisation, healthcare practice and animal wellness.
Steve Collis, chairman, president and chief executive of AmerisourceBergen, said: “Over the years, we have made thoughtful and strategic investments to advance the development and delivery of healthcare, enable access and create even stronger stability across the supply chain.
“The creation of AB Health Ventures will build on our track record of success as we identify meaningful partnerships that will bring emerging healthcare solutions to market and create healthier futures for all.”
Leslie Donato, executive vice-president and chief strategy officer for AmerisourceBergen, added: “With the launch of AB Health Ventures, we can unlock new ideas, generate additional value and put forward potential solutions that will benefit our customers and the patients they ultimately serve.”
AmerisourceBergen had already made some investments, most recently providing an undisclosed amount of funding for cellular orchestration technology developer TrakCel in March 2021 alongside laboratory services provider Labcorp. It has also named healthcare paperwork management service Annexus Health as a portfolio company.
Touchdown Ventures, a venture capital firm that provides CVC asset management services, will help run AB Health Ventures in partnership with the corporate’s senior executives.
Image courtesy of AmerisourceBergen Corporation.
