Former CVS Health Chief Strategy Officer Josh Flum Joins LRVHealth as Managing Partner
LRVHealth, the inside healthcare venture capital platform, today announced that Josh Flum joined the firm as a managing partner. With nearly two decades of experience driving growth and innovation at CVS Health, Flum joins a diverse team of healthcare operators, entrepreneurs, investors and insiders leading healthcare innovation and transformation alongside a network of strategic limited partners that touches half of all healthcare consumers in the U.S.
Flum most recently served as Executive Vice President, Chief Strategy & Business Development Officer at CVS Health. In this role, he was responsible for assessing dynamic market forces and driving organizational responses in a rapidly evolving healthcare and consumer landscape. In this work, Flum led a broad set of transformational activities ranging from the integration of CVS Health and Aetna to the founding of CVS Health Ventures, a venture capital fund that advances CVS Health's strategy through investment and partnership with innovative digital health companies.
Over the course of his career at CVS Health, Flum held a unique set of strategic, operational and technology leadership roles that allowed him to participate in all aspects of a transforming industry and company. Among his several senior leadership positions, he led CVS Health's Retail Pharmacy Division and helped drive industry leading growth through the development and implementation of innovative clinical and operational initiatives.
"LRVHealth has a very unique mission and purpose that's the perfect fit for the next chapter of my career," aid Josh Flum, managing partner at LRVHealth. "The firm's track record proves that its strategy of essentially embedding itself with healthcare incumbents to guide a thesis-driven approach to investing is a recipe for successfully nurturing innovation that will transform healthcare. The healthcare market is complex, and to drive real, sustainable change you need to build deep relationships between the people who live, breathe and understand that complexity and the entrepreneurs with the next great ideas to change it. That's what I love doing and it is what LRVHealth does best."
Founded in 2000 by an experienced team of healthcare investors, operators, and advisors, LRVHealth collaborates with a network of strategic limited partners to provide capital, operating experience, and industry insight to early-stage companies transforming healthcare. The strategic partners that invest in LRVHealth include leading provider, payer, and vendor organizations that together, touch half of all healthcare consumers in the U.S. By representing a diverse set of geographies and populations, these relationships give LRVHealth visibility into the biggest challenges healthcare organizations face, and the cross-industry insight that's invaluable to entrepreneurs working to address them. Through this unique platform, LRVHealth drives transformational change for its strategic limited partners and portfolio companies, delivers superior financial returns, and generates positive social and health impact with every investment.
"Bringing Josh to LRVHealth from the inside of one of the leading companies in healthcare adds another exceptional source of insight and knowledge to our team that's been investing in and building innovative companies driving change in healthcare for more than 20 years," said Keith Figlioli, managing partner at LRVHealth. "Healthcare innovation and transformation is not stopping. While investments ebb and flow, and the industry focuses on addressing some tough, fundamental challenges, incumbent players cannot take their foot off the pedal of innovation. Like the rest of our team, Josh has decades of healthcare experience through different market cycles that provides unique knowledge about how to deal with ongoing challenges while still driving innovation."
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