Ben Franklin Technology Partners HQ.
Tech investment powerhouse Ben Franklin Technology Partners released their third quarter investment plan this week and 21 early-stage companies got approved for investment. A total of $3.7 in funding has been approved, and eight companies in the physical sciences sector got approved for the biggest sum of investment. The eight companies will receive $1.4 million in total.
The group’s three other divisions – information technology, digital health, and health – each hold 5 or fewer companies. Read more »
Independence Blue Cross HQ at 1901 Market Street.
As the wave of health care consolidation continues and the Affordable Care Act covers brings new entrants into the insurance market, a new report offers a glimpse into the financial standing of one of Philadelphia’s largest health care players.
Independence Health Group earned $6 million in net income during the first nine months of 2015 — but that’s down 93 percent from the same time period in 2014 when it earned $83 million. The numbers come from Fitch Ratings, which analyzed Blue Cross/Blue Shield companies across the country, finding that 23 out of 35 reported a decline in earnings. Read more »