CVS Health (NYSE: CVS) has inaugurated CVS Health Ventures, a corporate venture capital fund aimed at creating partnerships with early-stage companies focused on improving the accessibility and affordability of health care.
What Happened: According to the Woonsocket, Rhode Island-based company, the fund will begin with $100 million allocated for investments. The initial targets for the fund will encompass companies in digital health care.
The fund is a continuation of earlier investments and partnerships for CVS Health, which has made more than 20 direct investments through its CVS and Aetna businesses.
Among the companies receiving investments from CVS Health are Unite Us, a technology platform that connects health care and social services providers, and LumiraDx, a point-of-care diagnostic platform.
See Also: Ask The VC with Jeff Ransdell: Investing In Telehealth
What Else Happened: Separately, CVS Health also announced it began administering COVID-19 vaccines at employer-based vaccination clinics through Return Ready, the company’s configurable COVID-19 testing solution for the workplace and college campuses.
CVS Health began Return Ready in February with Delta Air Lines, Inc. (NYSE: DAL) and is now managing employer vaccination clinics for 18 employers across 51 locations, including the International Longshoremen’s Association and the municipal government in Philadelphia.
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