Goldman Sachs and Sesame Workshop pour money into this edtech firm’s newest fund
Reach Capital III is a $165 million investment vehicle
Shauntel Garvey and Jennifer Carolan liked edtech before the sector was cool, so the duo co-founded Reach Capital in 2015 with a $53 million debut fund. The San Francisco-based venture firm has since put checks into education startups including Newsela, Sketchy, ClassDojo and Outschool, landing six exits so far.
Now, after seeing its portfolio accelerate in the wake of the coronavirus, Reach is announcing its third fund aimed at backing edtech startups. Reach Capital III is a $165 million fund, the firm’s biggest to date. Reach’s team, which also includes Chian Gong, Wayee Chu and Esteban Sosnik, started raising the investment vehicle over the summer. New LPs in the fund include Sesame Workshop, National Geographic, Kaiser Foundation Hospitals and Goldman Sachs.
Kaiser Foundation Health Plan, Hospitals 2020 financial results
Largest nonprofit, integrated health care system reports stable operating performance while providing high-quality health care during pandemic.
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OAKLAND, Calif., Feb. 5, 2021 /PRNewswire/ Kaiser Foundation Health Plan, Inc., Kaiser Foundation Hospitals, and their respective subsidiaries (KFHP/H) reported 2020 annual financial results, demonstrating stable performance during the pandemic. Total operating revenues for 2020 were $88.7 billion, compared to $84.5 billion in 2019. Total operating expenses were $86.5 billion, compared to $81.8 billion in the prior year. Operating income was $2.2 billion, or 2.5% of operating revenues, compared to $2.7 billion in 2019, or 3.2%. Our 2020 year-end results reflect the strength of our integrated model amid the unparalleled challenges of fighting COVID-19. In each stage of the pandemic, Kaiser Permanente s dedicated em
Sequoia, GIC invest in TPG-backed Novotech at $2.3b valuation
Hands of clinician holding steel tools during scientific experiment in laboratory (Photo Source: Internet Archive)
February 1, 2021
Sequoia Capital and Singapore sovereign fund GIC Pte are among investors that agreed to buy a stake in clinical research and testing provider Novotech Pty from TPG, people with knowledge of the matter said.
Kaiser Foundation Hospitals also plans to invest in Novotech, according to the people, who asked not to be identified because the information is private. TPG is selling more than 10% of Novotech in a transaction valuing the company at over $2.3 billion, said Joel Thickins, head of Australia and New Zealand for TPG Capital Asia.
Press release content from PR Newswire. The AP news staff was not involved in its creation.
Nolan Chang, MD, appointed to National Permanente Leadership Team
January 21, 2021 GMT
Permanente Federation LOGO (PRNewsfoto/The Permanente Federation)
OAKLAND, Calif., Jan. 21, 2021 /PRNewswire/ The Permanente Federation has appointed Nolan Chang, MD, to its National Permanente Leadership Team (NPLT) as executive vice president of Strategy, Corporate Development, and Finance. The NPLT leads the national work of the 8 Permanente Medical Groups (PMGs) and their more than 23,000 physicians. The Permanente Medical Groups, Kaiser Foundation Health Plans, and Kaiser Foundation Hospitals together comprise Kaiser Permanente.
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As a member of the NPLT, Dr. Chang assumes a wide range of governance and leadership responsibilities for strategy, corporate development, finance, labor, documentation, and coding. Dr. Chang will continue to serve as regional medical director for business