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BENTONVILLE, Ark. – Dr. Cheryl Pegus, who led Walmart’s health and wellness business, has left the retailer to become a managing director of Morgan Health, a JP Morgan Chase unit investing in innovators in the sector.
Cheryl Pegus
As executive vice president for health and wellness at Walmart, Pegus launched programs designed to raise the standard of care for millions of Americans, including the rollout of ReliOn insulin, which has saved customers more than $15 million. She played a foundational role in broadening access to critical telehealth services and expanded the footprint of Walmart Health centers. She also oversaw the company’s administration of COVID vaccines to tens of millions of customers and associates. She will continue to serve as a senior advisor to Walmart
“I’m excited about the momentum we have in Health & Wellness and our ability to make an impact on the access and affordability of health care in our communities,” said Walmart U.S. president and CEO John Furner. “Our Health & Wellness team consistently steps up to serve our customers, and I’m proud of the work we have accomplished over the past few years. The team is well positioned to execute our compelling strategy of healthcare transformation. We are grateful to Dr. Pegus for advancing our mission of helping people live better and healthier, and we look forward to continuing to work with her in the future.”
At Morgan Health, Pegus will work closely with Dan Hartman and Jeff Ries, who lead the division’s ventures and investment efforts. As part of its mission to improve employer-sponsored health care, Morgan Health is investing $250 million of JPMorgan Chase capital to help scale promising companies focused on driving greater accountability in health care. To date, Morgan Health has deployed $105 million in four early-stage companies: Vera Whole Health, Embold Health, Centivo and LetsGetChecked.
“Health care innovation continues to be very much needed, and I am excited to support this incredible Morgan Health team in accelerating offerings that improve outcomes,” Pegus said. “Moving new science into practice, supporting consumers in understanding what’s available and needed to stay healthy, while assisting health care professionals in doing our best work can deliver on the quadruple aim.”
Building on the unit’s accountable care strategy, Pegus will help inform the team’s renewed focus on population-based health initiatives, including investing in and scaling promising new care delivery models designed to improve health outcomes, particularly among diverse populations. In addition, she will help advance work and strategic investments dedicated to addressing gaps in mental and behavioral health, diabetes, heart disease and other chronic conditions among enrollees.
“Cheryl is one of the most respected leaders in health care and brings clinical and health care business expertise that will help accelerate the next phase of Morgan Health’s strategy around population health,” said Morgan Health CEO Dan Mendelson. “She is also a cardiologist and health equity expert and will play a critical role in our work to invest in and scale companies that are making a meaningful difference in reversing the trend of chronic disease, particularly diabetes and heart disease, across the commercial market. She recognizes the opportunity that we have to improve health outcomes for our employees and the more than 150 million Americans who depend on employer-sponsored insurance.”
Pegus brings more than 20 years of experience across the health sector to support Morgan Health’s vision and mission. Prior to joining Walmart, she was President of Consumer Solutions and Chief Medical Officer for Cambia Health Solutions. She also served as the first chief medical officer at Walgreens and as General Manager and Chief Medical Officer for SymCare Personalized Health Solutions, a diabetes-focused division of Johnson & Johnson.
Pegus also had roles at Pfizer, where she focused on the development of clinical protocols and early disease management programs, and Aetna, where her work supported a focus on wellness, women’s health, health equity initiatives and predictive analytics. She began her career in private practice as a cardiologist and previously served as board chair for the Association of Black Cardiologists.
In addition to her role at Morgan Health, and will be joining Atria. Dr. Pegus is co-founder of A New Beat and has served on the board of the American Heart Association as well as public and private companies.
