AmerisourceBergen will contribute $150 million to a new startup fund.AB Health Ventures will begin by investing in early-stage to mid-stage health-related enterprises.
AmerisourceBergen, a leading pharmaceutical distributor, is putting $150 million into a corporate venture fund focusing on healthcare entrepreneurs.
AB Health Ventures, the wholesale giant’s new venture capital fund, will first look to invest in early to midstage health-related firms both in the United States and abroad. According to management, the fund will target investments in businesses focused on pharmacy and distribution innovation, clinical development and commercialisation of pharmaceuticals, practise solutions for healthcare practitioners, and animal health.
AmerisourceBergen chairperson, president, and CEO Steve Collis, stated, “I believe that innovation is the driver for sustained progress and change, which is why AmerisourceBergen is committed to adopting bold, innovative measures to achieve our purpose and promote long-term success. We have made conscious and intentional investments over the years to encourage healthcare development and delivery, ease access, and produce even more stability across the supply chain. AB Health Ventures will expand on our track record of success by identifying meaningful collaborations that will bring breakthrough healthcare innovations to market and generate healthier futures for everybody.”
AB Health Ventures will give value to entrepreneurs searching for partners to help expand their businesses by leveraging the company’s significant knowledge, worldwide footprint, and contacts with stakeholders across the pharmaceutical supply chain.
According to executives, AmerisourceBergen will assist entrepreneurs in swiftly prototyping solutions, testing with pilots, and accelerating scalability through commercialisation.
AmerisourceBergen executive vice president and chief strategy officer Leslie Donato, stated, “The enormous accomplishments and improvements in the healthcare profession are astonishing and undeniable. AmerisourceBergen is excited to capitalise on this momentum and, ultimately, accelerate further innovation by collaborating with entrepreneurs that want to change healthcare. The launch of AB Health Ventures enables us to unlock new ideas, generate additional value, and put forwards potential solutions that will benefit our customers and the patients they eventually serve.”
In 2021, the company’s revenue was $214 billion, a 12% increase over the previous year.
With the acquisition of Walgreens’ Alliance Healthcare last year, the business expanded its pharmaceutical distribution reach.
AmerisourceBergen paid $6.27 billion for the company, which is one of Europe’s major pharma wholesalers.
The transaction will expand AmerisourceBergen’s global distribution network.
AmerisourceBergen had made minority investments in businesses in healthcare and life sciences.
AmerisourceBergen recently collaborated with TrakCel, a leading innovator of cellular orchestration solutions, and Annexus Health, a healthcare technology business that improves the patient journey by decreasing financial and administrative constraints to improve access, speed, and adherence. Touchdown Ventures, a corporate venture capital firm, will assist in the management of the AB Health Ventures fund.