Define Ventures Welcomes Carolyn Magill as Venture Partner

We're thrilled to welcome Carolyn Magill, former CEO of Aetion and of Remedy Partners, as Venture Partner at Define Ventures. 

‍

Carolyn is a seasoned healthcare executive and two-time CEO, having held executive leadership positions across multiple corners of the ecosystem, including real-world evidence, value-based care, Medicare, and Medicaid. Our team has had the privilege of closely partnering with Carolyn as a Define Advisor for many years, and we're confident her deep expertise, particularly in data and AI applications within the pharmaceutical landscape, will be invaluable to our partner companies. We believe she’s uniquely qualified to guide the next generation of health tech innovators.

‍

We recently sat down with Carolyn to learn more about why she's looking forward to partnering with our founders and what our core values personally mean to her. 

‍

Why are you interested in joining Define at this point in your career?

‍

After 25 years in payer, provider, and pharma businesses at various sizes and maturity, I am drawn by the opportunity to have a pulse on innovation as an investor with visibility into the early stages of companies. 

‍

Within the world of venture, Define presented the most compelling career move for me because of the incredible community the team has fostered—especially partner companies and the team. I love that everyone at Define has experience operating companies, because it makes us stronger partners to founders.

‍

What is the unique value that you will bring to our founders and partner companies?

‍

My perspective is grounded in over 25 years of addressing gaps in healthcare — on behalf of patients, policymakers, payers, providers and life sciences. Those who need care, deliver care, develop technology and medications to improve care outcomes, and those who are tasked with figuring out how to pay for care. 

‍

Roughly a third of that time was in a Fortune 10 company, a third in founder-led companies that grew to exceed $800M in value, and a third leading a high growth start-up from early days to a scaled organization that raised over $200M.

‍

What would you like founders to know about your career trajectory, and what you've learned along the way?

‍

The most important thing I’ve learned is how much there is to learn. From founders of what have become multi billion dollar companies, from first time entrepreneurs, from investors of startups and more mature organizations, from executives in various sectors of health care and beyond, from friends and family who have experienced gaps in care or had difficulty affording coverage. From taking the plunge to lead a company, which means making tough decisions every day and leading a team in navigating what comes next.

‍

Letting curiosity lead the way has served me well. Every career decision maps to a question that became a quest. First for understanding, and then for impact — relating to Medicare / Medicaid policy, health care payment models, and applying data, analytics and technology to improving patient outcomes.

‍

What excites you the most about health tech today?

‍

The pace of change, and the ubiquity of the analytical tools and data we need to make better decisions. 

‍

What does our value, “Defining Healthcare”, mean to you?

‍

Defining Healthcare means building on the deep understanding of how the mechanics of our health care system function. All in order to appreciate how best to recognize a good idea when we see one, and having the courage to address gaps together with our strategic partners to launch a solution when one doesn't already exist.

‍

What does our value, “Defining Partnership”, mean to you?

‍

Defining Partnership means walking the talk as a true supporter of companies we invest in. As experienced operators, we know first hand many of the decisions founders navigate on a daily basis. When helpful, we can listen, share lessons learned, ask questions and make introductions that help partner company leadership take their next steps. Whether it's connecting to the right potential customer to test a product or make a sale, or meeting with our team to weigh strategic alternatives—we are here.

‍

What does our value, “Defining Leadership”, mean to you?

‍

When thinking about our value of Defining Leadership, an adage comes to mind: startups don't die from starvation, they die from indigestion. Defining Leadership means the prioritization necessary to lead a team, build a company, demonstrate the potential of innovation for a customer, and ultimately impact people's lives with improved health outcomes on the things they care about most.

‍