Palo Alto – July 10, 2021 – In this episode of “The Women in Health-Tech” series, I had a great conversation with Megann Vaughn Watters, Vice President of Corporate Development, Licensing and Ventures at Labcorp. She is responsible for licensing, strategic partnerships and equity investments, as well as managing the Labcorp Venture Fund, which invests in early-stage, private companies operating in current or strategically adjacent spaces.
As we all know, Labcorp, is a leading global life sciences company that provides physicians, health care providers, pharmaceutical companies, and patients with vital information needed to make clear and confident decisions. The company’s capabilities include diagnostics and drug development, both of which drive Labcorp’s mission to improve health and improve lives. When the pandemic started, Labcorp launched its first PCR test on March 5, 2020 with a daily capacity of 10,000 tests. Today, they can run 275,000 tests per day. While it wasn’t easy, Labcorp was able to scale and bring new solutions to the market in a short period of time. Some of these new approaches include hybrid virtual clinical trials and at-home sample collection. They worked very closely with the FDA and CDC, and by following their guidelines and feedback, they were able to scale and offer what makes the most sense for their patients and providers.
What we have seen during the pandemic is that science is moving a lot faster than guidelines and coverage. Megann identifies reimbursement as a pressing challenge in health care and explains how some of Labcorp’s investments and partnerships are translating real-world data into real-world evidence, which can help accelerate FDA approval or generate evidence that would be needed for reimbursement of new technologies and services.
Hope you enjoy the interview.
You can read the transcript here and watch the video below:
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