CalPERS Invests $100 Million in New Jersey-Based WebMD
Officials for CalPERS on Thursday announced that the pension fund has invested about $100 million in New Jersey-based WebMD, which provides online health services and information, the Sacramento Bee reports. CalPERS, the largest pension fund and third-largest purchaser of health care in the nation, made the investment through a private equity fund managed by Pacific Corporate Group, which is supported in large part by CalPERS. "We believe that WebMD will play an important role in reining in America's health care costs," CalPERS CEO Fred Buenrostro said, adding, "[T]his is a strategic investment for us" (Chan, Sacramento Bee, 3/5).This is part of the California Healthline Daily Edition, a summary of health policy coverage from major news organizations. Sign up for an email subscription.