Contribution marks the second donation McKesson Ventures has made in 2018 as part of its philanthropic commitment to portfolio companies and their missions
SAN FRANCISCO – June 26, 2018 – McKesson Ventures, the venture capital arm of McKesson Corporation, today announced that it has donated $10,000 to Meals on Wheels America on behalf of its former portfolio company Landmark Health, a leading provider of in-home, risk-based medical care. As part of its deep commitment to supporting the growth and mission of its portfolio companies, McKesson Ventures will give $10,000 to a charitable organization of the portfolio company’s choosing following a positive exit. Each of McKesson Ventures’ 18 portfolio companies is committed to transforming the global healthcare landscape in a positive way.
“Landmark Health is a shining example of what success can look like under value-based care,” said Dave Schulte, Managing Director at McKesson Ventures. “In addition to filling an important care need for polychronic patients, Landmark is providing this care at risk with a multidisciplinary team that partners with payers – all while improving outcomes. We’re excited to watch them grow in the years to come and expand their offering to more patients across the country.”
Landmark Health is an industry leader in home-based medical care for patients with complex needs. An interdisciplinary mobile care team works together and makes home visits to help patients manage their medical conditions 24 hours a day, seven days a week, 365 days a year. Typically, these services are available at no direct cost to patients, most of whom are eligible for Medicare Advantage or other coverage. According to the Centers for Medicare & Medicaid Services’ (CMS) most recent data, nearly 45 percent of emergency room visits from nursing home residents on Medicare or Medicaid could have been avoided. Landmark Health tackles this issue head on, connecting some of the most clinically complex and medically vulnerable patients with a comprehensive, coordinated care team that provides medical, behavioral, social and palliative care.
“We are grateful to McKesson Ventures for this donation to Meals on Wheels America and their ongoing support,” said Christopher Goldsmith, President of Landmark Health. “It is amazing to work with a firm that is not only committed to our growth strategy, but also appreciates our values and mission to deliver comprehensive care to patients wherever and whenever they need it.”
Similar to Landmark Health, Meals on Wheels aims to empower seniors with independence by bringing needed resources directly into their homes. The non-profit currently helps nearly 2.4 million seniors annually across the US, supporting more than 5,000 community-based programs that are dedicated to addressing senior isolation and hunger.
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About McKesson Ventures: McKesson Ventures is a strategic venture firm backed by McKesson Corporation focusing on early and growth stage companies. McKesson Ventures targets companies that both catalyze and benefit from the key changes taking place in the U.S. health care landscape. McKesson Corporation, currently ranked 5th on the FORTUNE 500, is a health care services and information technology company dedicated to making the business of health care run better. We work with payers, hospitals, physician offices, pharmacies, pharmaceutical companies, and others across the spectrum of care to build healthier organizations that help deliver better care to patients in every setting. Visit www.mckessonventures.com to learn more.
About Landmark Health: Landmark is an industry leader of home-based medical care for patients with complex health needs, covering more than 80,000 lives. Its community-based, physician-led medical teams specialize in house calls and deliver medical, behavioral, social and palliative care to individuals with multiple chronic conditions wherever they reside, and wherever they need it. Landmark’s teams of mobile clinicians collaborate with patients’ families, caregivers and other medical providers to bring coordinated healthcare to people who need it the most. Landmark operates nationally, expanding coverage to reach 13 states in 2018. For more information, visit www.landmarkhealth.org.