Engaging with the private sector is one way that we are able to extend how we invest to ensure that across Colorado, each of us can say: “We have all we need to live health lives.” We make program-related investments (PRIs) that show promise and create partnerships that strive to achieve health equity and bring health in reach for all Coloradans.
The two primary components of our PRI work include:
Mission-driven investment (MDI) strategies include making PRIs to nonprofits or private sector companies to support charitable or mission-related activities with financial returns that are secondary and below market.
PRIs are best used to provide capital for organizations that have a business or revenue model to finance, sustain and grow their initiatives. PRIs can help organizations attract new financing from other investors or build a credit record to qualify for commercial financing.
PRIs include financing methods commonly associated with banks or other private investors, such as loans, loan guarantees, linked deposits, and even equity investments in charitable organizations or in commercial ventures for charitable purposes. Because PRI funding is eventually returned to the Foundation, the funds will be used again for new mission-related opportunities.
The Foundation is actively engaged with private, government, philanthropic and nonprofit entities. This network of health innovation engagement, grants and ecosystem development activities can take many forms.
In 2014 and 2015, for example, the Foundation sponsored $150,000 in cash awards for the Digital Health Challenge. This event—hosted annually by Prime Health—offers early-stage digital health companies the opportunity to vie for prize money to support product pilot testing at Colorado-based host health care sites. Competitions like the Digital Health Challenge provide an innovative model to identify and advance the most promising of these emerging technologies.
Investments such as these, and the resources they provide to the health care community, support the Foundation’s efforts to improve the health of all Coloradans.
10.10.10 Health – 10.10.10 Health brings together 10 proven prospective CEOs for 10 days to tackle 10 wicked problems in the health sector. As highlighted in a Forbes magazine article, the program encourages successful entrepreneurs to develop viable, market-based solutions for health sector-related issues as the potential basis for their next business ventures. The inaugural program was hosted in Denver, Colo., on Feb. 16-26, 2015. Read more.
Digital Health Challenge – Founded in 2014, the Colorado Digital Health Challenge is a unique opportunity for early-stage digital health companies to connect with key Colorado health care leaders and stakeholders to test their products with interested organizations. Winning companies and host institutions will work together collectively to pilot test the efficacy of digital health products in the health care setting with the overall goal of advancing the Triple Aim—improving the patient experience; increasing access to care and clinical outcomes; and reducing costs. Read more.
myStrength – The $1.5 million, 7-year senior loan agreement allows myStrength to boost capacity in delivering their behavioral health e-platform to both public and commercial clients to engage more patients and consumers, generate better mental health outcomes and reduce costs. Read more.
Ours to Own Denver – This campaign allows community residents to invest in a $10 million credit facility for the Urban Land Conservancy, a local nonprofit that preserves and develops real estate for long-term community benefit. Proceeds are loaned at below market rates to the Urban Land Conservancy via the credit facility to revitalize and invest in the health of underserved communities throughout metro Denver. Read more.
RxAssurance – The $500,000 investment and mission-focused partnership with RxAssurance supports the company’s digital health platform that allows health care providers and payers to optimize prescription regimens, increase medication adherence and to improve patient outcomes. Read more.
For more information about applying, please email Amy Latham, vice president of Philanthropy.