AmerisourceBergen Launches $150 Million Corporate Venture Capital Fund
We are proud to announce the launch of AB Health Ventures and our ongoing work with AmerisourceBergen to help manage the fund. Below you can read the official press release, which is also published here.
For additional information, check out this article from Jessica Mathews at Fortune.
What’s the news
AB Health Ventures is a $150 million corporate venture capital fund set up to fuel innovation in the healthcare industry by backing early and growth stage companies that advance the development and delivery of healthcare, enable access and create even stronger stability across the supply chain.
Why it matters
Ranked #8 on the 2021 Fortune 500 List, AmerisourceBergen is one of the largest distributors of pharmaceuticals and healthcare products. The company serves over 100,000 locations across human and animal health and ships four million products daily. AB Health Ventures will leverage the parent company’s deep expertise, global footprint, and strong relationships across the pharmaceutical supply chain to add meaningful value to startups in which AB Health Ventures invests.
Who it’s for
Early and growth stage companies that are pursuing bold ideas in areas such as the future of pharmacy and distribution, clinical development and commercialization of pharmaceuticals, technologies for healthcare providers, and animal health. In addition to investment, AB seeks to support startups in helping them rapidly prototype solutions, test with pilots, and accelerate scale through commercialization.
Conshohocken, Pa. (April 6, 2022) — AmerisourceBergen, a global healthcare solutions company, today announced the establishment of AB Health Ventures, a dedicated corporate venture capital fund that will invest in and partner with emerging healthcare startup companies working to transform healthcare for people and animals globally. AB Health Ventures will build on AmerisourceBergen’s ongoing commitment to delivering innovation for its customers.
“I believe that innovation is the catalyst to sustained progress and change, which is why AmerisourceBergen is committed to taking bold, innovative actions to achieve our purpose and drive long-term growth,” said Steve Collis, Chairman, President and Chief Executive Officer of AmerisourceBergen. “Over the years, we have made thoughtful and strategic investments to advance the development and delivery of healthcare, enable access and create even stronger stability across the supply chain. The creation of AB Health Ventures will build on our track record of success as we identify meaningful partnerships that will bring emerging healthcare solutions to market and create healthier futures for all.”
AB Health Ventures will initially launch with $150 million allocated for investment in early-to mid-stage health-related startups around the world. The fund will prioritize investments in entrepreneurs who are pursuing bold ideas in areas such as the future of pharmacy and distribution, clinical development and commercialization of pharmaceuticals, practice solutions for healthcare providers, and animal health.
AB Health Ventures is a wholly-owned subsidiary of AmerisourceBergen that will utilize the company’s deep expertise, global footprint, and strong relationships with stakeholders across the pharmaceutical supply chain to add value to entrepreneurs looking for partners to help grow their businesses. AmerisourceBergen will support startups in helping them rapidly prototype solutions, test with pilots, and accelerate scale through commercialization.
“The unprecedented achievements and advancements across the healthcare industry are remarkable and undeniable. AmerisourceBergen is eager to build on this momentum and ultimately accelerate further innovation by working with entrepreneurs who are looking to revolutionize healthcare. With the launch of AB Health Ventures, we can unlock new ideas, generate additional value and put forward potential solutions that will benefit our customers and the patients they ultimately serve,” said Leslie Donato, EVP, Chief Strategy Officer at AmerisourceBergen.
AmerisourceBergen has a successful history of partnerships and minority investments in like-minded startups, delivering strong commercial benefits to improve customer and ultimately patient outcomes. Most recently, AmerisourceBergen partnered with TrakCel, a leading innovator of cellular orchestration solutions, and Annexus Health, a healthcare technology company that is enhancing the patient journey by reducing financial and administrative burdens to improve access, speed and adherence.
Touchdown Ventures, a firm specializing in corporate venture capital, will help manage the AB Health Ventures fund. Touchdown will work closely with senior executives of AB in all aspects of operating the fund.
Additional information about AB Health Ventures can be found at www.abhealthventures.com
AmerisourceBergen fosters a positive impact on the health of people and communities around the world by advancing the development and delivery of pharmaceuticals and healthcare products. As a leading global healthcare company, with a foundation in pharmaceutical distribution and solutions for manufacturers, pharmacies and providers, we create unparalleled access, efficiency and reliability for human and animal health. Our 42,000 global team members power our purpose: We are united in our responsibility to create healthier futures. AmerisourceBergen is ranked #8 on the Fortune 500 with more than $200 billion in annual revenue. Learn more at www.amerisourcebergen.com.
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