$25 Million Targeting Early-Stage Health Care Innovation
Lewis & Clark Ventures, a Midwest venture capital firm, announced today a $25 million multi-year commitment from Express Scripts to help source and support early stage innovation and supplement the company’s ongoing efforts to innovate smarter pharmacy solutions that deliver better outcomes for patients.
This capital will specifically target new technologies and companies that have the potential to provide Express Scripts with early access to the next big ideas in healthcare.
“Innovation drives our industry-leading suite of cost-saving, clinically-based solutions that deliver quality, cost-effective pharmacy care to tens of millions of people,” said Dr. Glen Stettin, Senior Vice President and Chief Innovation Officer, Express Scripts. “We continually scout for technology, ideas and people that are changing healthcare, and we believe that our investment with Lewis & Clark Ventures will further accelerate innovation across the Midwest, especially here in St. Louis.”
The mission of the Lewis & Clark Ventures fund is to deploy growth capital of $3 to $7 million into companies that are generating revenue. The fund seeks companies serving markets such as financial, healthcare, business enterprise solutions and agriculture, and is focused on software, devices and life sciences.
“We believe there are gifted entrepreneurs and high-potential investment opportunities between the coasts waiting to be discovered, and we are here to solve their capital needs and allow them to scale their businesses,” said Brian Hopcraft, managing director, Lewis & Clark Ventures.
“Our partnership with Express Scripts further strengthens our network, and may also be an invaluable resource and catalyst for growth for our healthcare portfolio companies.”
Lewis & Clark Ventures is particularly interested in companies that demonstrate disruptive innovation and introduce those ideas to the market. These healthcare investments will likely target healthcare IT and solutions that have the ability to increase prescription drug adherence, support personalized and accountable care, offer connectivity for patients and improve public health.