Propeller Health touts investment from McKesson Ventures

Building on a $20 million funding round announced last month, Propeller Health said today that it landed an investment of an undisclosed amount from McKesson Ventures.

The company is looking to expand its digital therapeutics business beyond devices that manage the treatment of chronic respiratory diseases.

Propeller noted that it’s interested in exploring opportunities in therapeutic areas that could include immunology, diabetes or neurology.

“We’ve accumulated the expertise, infrastructure and distribution network to put connected medicines in the hands of people around the world,” co-founder & CEO David Van Sickle said in prepared remarks. “This strategic investment accelerates those efforts and provides opportunities to explore potential partnership models that can increase access to new digital medicines and positively impact more lives.”

“McKesson Ventures is uniquely positioned to help accelerate growth in the digital supply chain as our healthcare system becomes increasingly connected via secure data exchange and the use of digital therapies continues to rise,” Carrie Hurwitz Williams, principal of McKesson Ventures, added.

Also last month, Propeller and device-maker Aptar Pharma announced that they plan to team up as part of Propeller’s effort to expand beyond digital inhalers.

According to the terms of the deal, Propeller and Aptar plan to co-market a platform of connected drug-delivery devices. Propeller is responsible for managing digital services and Aptar will manage device development, manufacturing and supply chain.

Want to stay on top of DDBN content? Sign up for our e-mail newsletter for a weekly dose of drug-device news.

Last Chance to Save for DeviceTalks Boston! Early rates for DeviceTalks Boston end August 15th. Don't miss the chance to save $100 and join top medtech innovators including leaders from Hologic, Google, Gray Matter, TransEnterix, NxStage Medical, Smith & Nephew, HeartFlow, Dynatronics, Johnson & Johnson, Allied Minds, and many more. View Full Agenda Register today to save. Use code LASTCALL to save an additional 10%.