Ben Franklin Tech Partners Pumped $3.7M Into These 21 Philly-Area Startups Last Quarter

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 »

Report: Independence Health Group Income Down 93 Percent

Independence Blue Cross HQ at 1901 Market Street.

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 »