NEW YORK, July 21, 2021 (GLOBE NEWSWIRE) — The venture capital firm General Catalyst announced today that Kenneth C. Frazier, Merck Executive Chairman and former CEO, will be joining the firm in the newly created role of Chairman, Health Assurance Initiatives. The move is the latest in a series of steps GC has taken to double down on its Health Assurance thesis, which is seeking to create a more equitable, more affordable and more effective healthcare system that better serves all constituencies.
Frazier is an accomplished and widely admired business leader and operator. During his decade-long tenure as Merck's CEO, he encouraged the company to take risks in developing novel vaccines and therapeutics and prioritized research funding as the source of long-term value creation. Under his leadership, Merck researchers made historic breakthroughs in immuno-oncology and other fields of medicine that have transformed clinical practice and greatly improved patient outcomes. Managing the company for the longer term, he placed special emphasis on Merck's discovery and translational medicine capabilities by establishing new research centers in Cambridge, MA, South San Francisco, CA, and London, UK.
In his new role at GC, Frazier will help guide the strategy of the firm's healthcare initiatives in an effort to shift the paradigm from a “sick care” system to a resilient, proactive Health Assurance system — designed to help people stay well, bend the cost curve through innovation, and make quality care more affordable and more accessible to all.
Frazier's initial area of focus will …
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