WOONSOCKET, R.I., Sept. 30, 2015 /PRNewswire/ -- CVS Health
(NYSE: CVS) today announced that it was partnering with top
startup accelerator MassChallenge and digital health venture fund
Rock Health to drive faster innovation and expand areas of focus
for connected health solutions. On the heels of the opening of its
Digital Innovation Lab in June, these new collaborative
relationships further demonstrate CVS Health's commitment to
driving rapid and impactful innovation in digital health
solutions.
"We know that some of the best digital health innovations are
already being developed, so we've made partnering a key part of our
digital efforts," said Brian Tilzer,
Senior Vice President and Chief Digital Officer for CVS Health. "We
have broad scale and resources; MassChallenge offers a competitive
startup accelerator program and Rock Health has an impressive
portfolio of market-leading companies. By working collaboratively
with each, we can rapidly design and test new ideas – ultimately
bringing solutions to our customers that will dramatically impact
the way they manage their health."
As part of its digital strategy, CVS Health is focusing on
innovation areas including mobile, personalization, connected
health and digital therapeutics – complements to the work that many
of the portfolio companies are already exploring. 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.
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."
About MassChallenge
MassChallenge runs startup accelerators designed to catalyze a
global renaissance by connecting high-impact startups with the
resources they need to launch and succeed. Anyone can apply to
MassChallenge, with any early-stage startup, in any industry, from
anywhere in the world. MassChallenge does not take equity or place
any restrictions on the startups it supports.
With programs in Boston,
Israel and the UK, MassChallenge
provides entrepreneurs with mentorship, office space, education,
access to a vast network, and other resources during four months of
acceleration. MassChallenge awards over $2
million in non-dilutive grants to the startups demonstrating
the highest impact and highest potential. A nonprofit organization,
MassChallenge is funded by corporate, public and foundation
partners. To date, the 617 MassChallenge alumni have raised over
$947 million in funding, generated
$485 million in revenue and created
5,105 jobs. For more information, visit www.masschallenge.org.
About Rock Health
Rock Health is the first venture fund dedicated to digital
health. Rock Health partners include AARP, Abbott, Blue Shield of
California, Boehringer Ingelheim,
Brigham and Women's, CVS Health, Deloitte, Genentech, Kaiser
Permanente, Qualcomm Life, UCSF, and the VA Center for Innovation.
For more information, visit www.rockhealth.com.
About CVS Health
CVS Health (NYSE: CVS) is a pharmacy innovation company helping
people on their path to better health. Through its 7,800 retail
drugstores, nearly 1,000 walk-in medical clinics, a leading
pharmacy benefits manager with more than 70 million plan members,
and expanding specialty pharmacy services, the Company enables
people, businesses and communities to manage health in more
affordable, effective ways. This unique integrated model increases
access to quality care, delivers better health outcomes and lowers
overall health care costs. Find more information about how CVS
Health is shaping the future of health
at www.cvshealth.com.
Press Contacts
Erin Pensa
CVS/pharmacy
T: 401.770.4786
E: Erin.Pensa@CVSHealth.com
Shannon Sullivan
MassChallenge Boston
T: + 888.782.7820 x 726
E: shannon@masschallenge.org
Lauren White
Rock Health
T: 202.320.8677
E: lauren@rockhealth.org
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SOURCE CVS Health