Principal

About CVS Health

CVS Health is a healthcare innovation company with a mission to enhance human-centric health care. Founded in 1963 and headquartered in Woonsocket, Rhode Island, CVS Health operates through a diverse array of segments including pharmacy services, retail pharmacy, and healthcare benefits. The company serves millions of people in the United States by providing accessible services such as prescription medications, health advice, and over-the-counter products. In addition to its robust retail pharmacy network, CVS Health also operates one of the nation’s largest pharmacy benefit management businesses and is a key player in the medical insurance industry through Aetna, which it acquired in 2018. The company’s “Heart at Work” culture emphasizes empathy, innovation, and customer-centricity, ensuring that their over 300,000 employees are constantly motivated and aligned with CVS Health’s goals. By promoting initiatives for various health and wellness programs, CVS Health aims to support and enrich the communities it serves. Their commitment extends to sustainability practices, integrating robust environmental strategies in their operations.

About this Role

The Principal, CVS Health Ventures, will hold a leadership role at CVS Health Ventures, managing early and mid-stage investments within the dedicated venture capital fund. This role entails a comprehensive range of responsibilities from deal sourcing to overseeing the end-to-end deal process, and ongoing portfolio and relationship management. The Principal is expected to drive strategic planning within the team, often guiding others to implement established strategies. They will identify new investment themes, manage the investment thesis development, and qualify sourcing opportunities. Furthermore, the Principal will oversee the diligence process for key deals, including financial modeling and preparation of executive-level materials to support investment decisions. As a negotiator and representative for CVS Health Ventures, the Principal will engage with start-up leadership and internal business units to facilitate seamless execution of deals. In addition, the role involves providing value-add activities to portfolio companies and aiding in strategic communication with CVS Health business units. The Principal will influence CVS Health’s business strategies through senior-level relationships and expertise in digital health and innovation. They will build and lead a team, fostering a positive team culture while ensuring successful delegation of tasks.

Responsibilities

• Manage the end-to-end deal process for early and mid-stage investments.
• Lead the diligence process, including financial modeling and memo development.
• Prepare executive-level materials to persuade investment decisions.
• Serve as a key negotiator and representative in interactions with start-ups and internal units.
• Represent CVS Health Ventures via board observer seats.
• Provide strategic insights to support investment thesis development.
• Influence CVS Health business strategies through senior-level relationships.
• Build and lead a high-performing team, ensuring successful delegation of tasks.
• Foster a positive team culture while building talent across the team.

Requirements

• 5+ years of healthcare experience in business roles – corporate development, innovation, venture capital/private equity, or strategy.
• 2+ years of experience in executing investment transactions.
• Experience serving or working with venture capital funded company boards.
• Experience evaluating and executing venture capital investments.
• Experience serving on venture capital company boards in observer and/or director roles.
• Strong communicator with executive presence.
• Demonstrates high levels of independent judgment and proactivity.
• Able to provide positive leadership across multiple complex workstreams.
• Experience building and leading high-performing teams.
• Financial analysis skills in a venture capital setting, including familiarity with Microsoft Excel.
• Strong presentation skills, including familiarity with Microsoft PowerPoint.

Benefits

• Competitive salary range from $144,200.00 to $288,400.00.
• Full range of medical, dental, and vision benefits.
• Eligible participation in the 401(k) retirement savings plan.
• Employee Stock Purchase Plan.
• Fully-paid term life insurance plan.
• Short-term and long-term disability benefits.
• Numerous well-being programs.
• Education assistance.
• Free development courses.
• CVS store discount.
• Discount programs with participating partners.
• Paid Time Off (PTO) or vacation pay.
• Paid holidays throughout the calendar year. For more information on benefits, please visit: Benefits | CVS Health.