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DJ CVS launching $100 million venture fund

CVS Health Corp. (CVS) said Thursday that it will launch CVS Health Ventures, a venture fund that invests in and partners with early-stage companies focused on making healthcare more accessible and affordable. Starting with $100 million, the initial focus will be on tech-enabled and digital healthcare companies. CVS notes the investments it has already made through both the CVS and Aetna businesses, including Unite Us, a program that links healthcare and social service providers. CVS also announced on Thursday that it has started to administer COVID-19 vaccines through employer-based vaccination sites. "With vaccine hesitancy on the rise, federal and state governments are looking to partners, like employers and CVS Health, to help by making vaccines more convenient to access and enhancing public education efforts," CVS said in the announcement. CVS is working with 18 employers at 51 locations, including Delta Air Lines. Inc. (DAL). CVS stock is up 11.1% for the year to date while the S&P 500 index is up 12.2% for the period.

-Tonya Garcia; 415-439-6400; AskNewswires@dowjones.com

 

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04-29-21 0940ET

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