Propeller Health announced today that McKesson Ventures has contributed an undisclosed amount to its $20 million strategic funding round. The funding will allow Propeller Health to continue developing connected medicines for the treatment of chronic respiratory disease and expand into additional therapeutic areas.
David Van Sickle, co-founder and CEO of Propeller Health commented on the impact of the investment on the company’s current and future initiatives. “We’ve accumulated the expertise, infrastructure and distribution network to put connected medicines in the hands of people around the world,” he said. “This strategic investment accelerates those efforts and provides opportunities to explore potential partnership models that can increase access to new digital medicines and positively impact more lives.”
Carrie Hurwitz Williams, Principal of McKesson Ventures, noted that McKesson Ventures was excited to be a part of Propeller Health’s continued success. “Propeller’s strong base of clinical evidence demonstrates meaningful benefits to patients and all key stakeholders involved in delivering patient care,” she said. “McKesson Ventures is uniquely positioned to help accelerate growth in the digital supply chain as our healthcare system becomes increasingly connected via secure data exchange and the use of digital therapies continues to rise.”