CVS Health made a big leap into digital healthcare with the recent opening of a Lab in Boston focused on developing new digital health solutions. On Wedneday, CVS Health announced it will partner with digital health venture fund Rock Health and healthcare startup accelerator MassChallenge in efforts to drive faster digital health innovation and expand areas of focus.
By forging new relationships in key markets—Boston, for healthcare and San Francisco, for technology – CVS Health aims to collaborate with the most advanced and capable organizations to develop future-looking health care solutions that help its 100 million customers proactively and better manage their healthcare needs. As part of its digital strategy, CVS Health is focusing on innovation in mobile, personalization, connected health and digital therapeutics – complements to the work that many of the portfolio companies are already exploring.
Continued Momentum in Boston with MassChallenge
By entering into a relationship with MassChallenge, CVS Health furthers its connections in the Boston technology community, where it opened up a Digital Innovation Lab earlier this summer. MassChallenge runs startup accelerators in Boston, Israel and the U.K., designed to connect high-impact startups with the resources they need to launch and succeed. Through the partnership, high-potential startups will have access to CVS Health’s breadth and resources to help facilitate the development of the next generation of customer-centric products.
“We’ve seen steady growth in the number of digital health startups that are seeking entrepreneurial resources,” said Scott Bailey, Managing Director of MassChallenge Boston. “We hope that by working with CVS Health, these startups will gain access to an even greater network of resources, helping them to develop their products, make new discoveries and rapidly grow their businesses.”
Making New Connections in California through Rock Health
CVS Health is also entering a relationship with California-based Rock Health, the first venture fund dedicated to digital health. The sponsorship will enable Rock Health’s impressive portfolio to engage directly with CVS Health, providing opportunities to deepen relationships with key stakeholders that share the goal of solving today’s health care challenges.
“With its unparalleled consumer reach, CVS Health is in a unique position to deeply impact the future of healthcare in the U.S. and we’re honored they’ve chosen to work alongside Rock Health,” said Malay Gandhi, Managing Director of Rock Health. “Working with the most forward-thinking companies in the industry is a major pillar of how we provide meaningful support to our portfolio companies.”