GCV Powerlist 2018: Tom Rodgers

Tom Rodgers’ return to US healthcare provider McKesson in 2014 has inspired a fast-moving corporate venturing unit.

McKesson’s biggest investment was a $1.21bn series B round for Grail in November 2017, with the oncology testing technology developer spun off from genomics technology producer Illumina, planning to raise up to $1bn more this year, according to Bloomberg.

However, McKesson Ventures has usually focused on smaller rounds. This year’s deals include a return to co-lead a $50m funding round in US-based healthcare concierge platform Accolade, while last year it was a part of Shyft’s series B round and led Truveris’ $25m series D round in early September.

Exits have also emerged, such as for US-based virtual clinic developer Carena, which was acquired in October by telehealth services provider Avizia for an undisclosed sum.

Given such activity it has been little surprise Rodgers has added to his team with McKesson Ventures, hiring Carrie Hurwitz Williams as principal and GCV Risiung Star for 2018 and Irem Mertol as a director.

A decade ago, Rodgers himself was vice-president of corporate strategy and business development for McKesson before joining venture capital firm Advanced Technology Ventures in 2004 where he was a partner for nearly eight years. He then had a two-and-a-half-year stint as director of strategic investments at healthcare technology provider Cambia Health Solutions before rejoining McKesson.

In 2014 at the unit’s launch, John Hammergren, McKesson’s chairman and CEO, said: “McKesson Ventures will help us support the development and commercialisation of innovations taking place across healthcare. By investing and partnering entrepreneurs and other investors that can bring new approaches to the challenges our customers are facing, we will accelerate the innovation cycle and further strengthen the value we provide to industry stakeholders across all segments.”