Express Scripts makes $25 million commitment to venture capital firm

Pharmacy benefit management services provider Express Scripts plans to invest $25 million in a health care innovation fund with Lewis & Clark Ventures.

“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,” Glen Stettin, senior vice president and chief innovation officer for Express Scripts, said. “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 multi-year commitment will support early stage innovations, specifically those that involve new technologies aimed at improving patient outcomes. The focus will be on companies that are already generating revenue and are producing health care solutions, such as those intended to personalize care and increase medication adherence.

The St. Louis-based venture capital firm was recently created to provide capital to innovators in the Midwest region operating within the sectors of technology, human sciences, manufacturing, agriculture, software and energy.

“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,” Lewis & Clark Ventures Managing Director Brian Hopcraft said.