On November 2nd, StartUp Health signed a three-year contract with Janssen, the pharmaceutical branch of Johnson & Johnson. The contract was years in the making, according to StartUp Health founder and CEO Steven Krein.
StartUp Health was launched in 2011. The company’s mission is to “transform health by organizing and investing in a global army of thousands of entrepreneurs passionate about reinventing the future of health.” Krein believes that the best way to go about transforming the health industry is to do away with incubators and accelerators, instead focusing on long-term solutions.
“What StartUp Health really represents is a long-term model that is both stage-agnostic and location-agnostic,” Krein stated. “Everyone understands now that healthcare is a unique animal in terms of its friction, its obstacles, its regulation and its long sales cycles and therefore, a long-term solution is needed.”
According to Krein, Janssen is looking to gain insight into the healthcare transformer mindset. As such, Janssen will have an active role in mentoring the startups.
To date, StartUp Health has 170 startups in its portfolio, spanning more than 60 cities worldwide. The company also has a total of 30,000 “Health Transformers” who consist of investors, mentors, and entrepreneurs. Other notable partners and shareholders include GE Ventures, Mark Cuban, and Aurora Healthcare.
StartUp Health and Rock Health are two prominent venture funds dedicated to improving our healthcare system through technology. McKesson Ventures is an investor in the Rock Health fund.
To learn more about StartUp Health’s latest partnership with Janssen, click here.