CalPERS Takes Lead in New Health Care Investment Initiative
On Tuesday, Health Evolution Partners announced that CalPERS and other major purchasers of health care are forming a coalition aimed at hastening adoption of strategies to boost health care quality and reduce costs, the San Francisco Business Times reports.
Health Evolution Partners is a San Francisco-based health care private equity firm headed by former National Coordinator for Health IT David Brailer. CalPERS has a 15% equity stake in Health Evolution Partners and committed $700 million last year to fund its efforts.
Other participants in the coalition include:
- Pennsylvania Employees Benefit Trust Fund;
- Washington State Health Care Authority; and
- Wisconsin Department of Employee Trust Funds.
The five organizations combined spend more than $12 billion annually on health care services, according to Health Evolution Partners officials.
Brailer said the coalition could focus on:
- New approaches to chronic care management;
- Exploring genomics and genomic screening; and
- Issues surrounding corporate wellness programs (Rauber, San Francisco Business Times, 3/4).