US-based healthcare product supplier McKesson Corporation has promoted Dave Schulte to senior vice-president and head of its corporate venturing arm, McKesson Ventures.
McKesson Ventures hired Schulte in 2015 as managing director under former unit head Tom Rodgers, who has since been appointed executive vice-president and chief strategy officer at McKesson. Global Corporate Venturing selected Schulte as a Rising Star in 2016 and 2017.
Schulte’s investments at McKesson Ventures included healthcare provision network Aledade, healthcare plan manager AllyAlign Health, healthcare macrodata platform provider Komodo Health, infusion centre operator IVX Health, clinical trial services provider Lightship and Oncology Analytics, the developer of a cancer treatments analytics tool.
Two of his portfolio companies have also led to exits. Biotechnology analytics platform developer Shyft Analytics was acquired by medical research firm Medidata for $195m while growth equity firm General Atlantic purchased a majority stake in telecare service provider Landmark Health.
Schulte has nearly two decades of healthtech investment experience, having spent 12 years from 2003 at healthcare provider Kaiser Permanente’s corporate venturing arm, Kaiser Permanente Ventures. He had run the unit for four years prior to his departure, helping it grow its resources from $20m under management to $400m.
“McKesson Ventures has established itself as a leading investor in high-growth pharma data, technology and services businesses,” Schulte told GCV. “Looking forward, we intend to deepen our expertise in these areas, with additional emphasis on oncology care, digital supply chain, consumer health, digital pharmacy and value-based care.”
Photo of David Schulte courtesy of LinkedIn.
