New CVS Health partnerships to foster health innovation in Boston, San Francisco
WOONSOCKET, R.I. — CVS Health is continuing to forge a path toward digital health innovations, adding two partnerships that it hopes will foster new ideas and solutions. The company said Wednesday that it has teamed up with start-up accelerator MassChallenge in Boston and digital health venture fund Rock Health in San Francisco.
“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,” CVS Health SVP and chief digital officer Brian Tilzer said. “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.”
The MassChallenge partnership is looking to build on CVS Health’s recent opening of its Digital Innovation Lab in Boston and forge a deeper tie to the city’s growing tech community. Now, CVS Health’s resources will be available to start-ups that are part of MassChallenge — which has other offices in the U.K. and Israel — paving the way for the next big consumer-facing digital products, the company said.
“We've seen steady growth in the number of digital health startups that are seeking entrepreneurial resources,” MassChallenge Boston’s managing director Scott Bailey, said “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.”
With its Rock Health partnership, CVS Health has sought out the first venture capital fund focusing on digital health. Working together, CVS Health said it would be able to engage directly with Rock Health’s portfolio, which it hopes will foster relationships between it and stakeholders looking for digital health solutions to the 21st century’s healthcare 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,” Rock Health managing director Malay Gandhi, Managing Director said “Working with the most forward-thinking companies in the industry is a major pillar of how we provide meaningful support to our portfolio companies.”