The fund is looking to invest in high-potential, early-stage companies that strive to make health care more accessible and affordable for consumers.
The new venture will combine CVS Health's local presence and clinical capabilities with Aetna's leading healthcare benefits and services.
The telehealth service is made possible through American Well's ongoing collaboration with CVS Health and its partnership with Cleveland Clinic.
Apple Watch support has been added to notify customers when prescriptions are ready, making it easier to refill prescriptions and check information at a glance.
With these deals, CVS is looking to collaborate with the most advanced and capable organizations to develop future-looking healthcare solutions.
The company is testing different telehealth opportunities, including making telehealth physician care accessible through its digital properties.