NEW YORK--(BUSINESS WIRE)-- Newlight Partners LP today announced it made a substantial contribution to the CPASS Foundation to provide 2,000 pulse oximeters and 4,600 digital thermometers to seniors in Illinois, Indiana, Michigan, North Carolina, Ohio, Pennsylvania, Rhode Island, and Tennessee. The CPASS Foundation is working in collaboration with Oak Street Health, a network of primary care centers delivering value-based care to adults on Medicare, and Zing Health, a Medicare Advantage plan serving Medicare eligible beneficiaries, in order to deliver the supplies to at-risk seniors in each state.
"As the COVID-19 pandemic continues to impact our country, Newlight is focused on working with our portfolio companies to address the needs of their communities,” said Srdjan Vukovic, Partner, Newlight Partners LP. “Oak Street Health and Zing Health are focused on improving the health and wellbeing of Medicare eligibles, and collaborating with these innovative companies offers a direct, timely and relevant way to address the needs of our vulnerable senior population."
“Oak Street Health has always focused on keeping patients happy and healthy, and now more than ever, we are committed to helping seniors stay at home while continuing to monitor and maintain their health,” said Mike Pykosz, CEO of Oak Street Health. “While this is imperative for their safety and to stop the spread of COVID-19, we know it presents new challenges and are working to ease this burden. Delivering important medical supplies directly to seniors in order to ensure they remain healthy at home during this time is one of those ways, and we’re thankful for the generosity of Newlight Partners LP to help seniors at this crucial time.”
“We have always taken a personalized approach when it comes to caring for our members, who live in Cook County. Now, more than ever, it is vital that we offer and provide them the supplies they need in order to protect themselves and stay healthy,” says Dr. Eric Whitaker, CEO of Zing Health. “With COVID-19 affecting so many people, especially seniors, it is important that companies like Newlight Partners LP, Oak Street Health, and Zing Health come together to help reduce the risk of seniors becoming sick with this virus.” “We are grateful that the CPASS Foundation-Chicago State University scholars and volunteers from Rosalind Franklin University of Medicine and Science-Chicago Medical School, are able to give back to the community in this way,” says Dr. Stephen Martin, Executive Director of the CPASS Foundation. “By putting kits together for our seniors, our scholars and program partners are able to help their community and reduce the spread of COVID-19.”
About Newlight Partners LP
Newlight Partners LP is a private investment firm focused on collaborating with management teams and strategic investors to build unique, durable businesses, predominantly in North America. For more than 15 years, the Newlight team has helped build successful enterprises in five sectors, including financial services, telecommunications, power and renewable energy, healthcare services and business services. Led by David Wassong and Ravi Yadav, Newlight has invested approximately $6 billion in over 100 investments since 2005, first as the Strategic Investments Group at Soros Fund Management LLC (Soros), and now as Newlight after the team's spin out from Soros in 2018. Newlight has approximately $4 billion in capital commitments and assets under management.
About Oak Street Health
Founded in 2012, Oak Street Health is a rapidly growing network of value-based, primary care centers for adults on Medicare. With a mission of rebuilding healthcare as it should be, the company operates an innovative healthcare model focused on quality of care, not volume of services, and is fully accountable to patients and partners for the quality and cost of care. Oak Street Health currently operates more than 50 centers across Illinois, Michigan, Indiana, Pennsylvania, Ohio, Rhode Island, North Carolina and Tennessee, with plans to continue its geographic expansion, including into Texas, in 2020. To learn more about Oak Street Health’s proven approach to care, visit www.oakstreethealth.com.
About Zing Health
Zing Health Choice IL is a Medicare Advantage HMO plan making health care insurance the best it can be for those 65-and-over. Unlike other Medicare Advantage Plans that only focus on the basics, Zing Health takes the time to get to know you, and partners with you to develop a plan to help you meet your health needs and goals. Members receive individualized assistance to make their transition to Zing as easy as possible. Zing offers members the ability to personalize their plans, access to facilities designed to help them better meet their healthcare needs and a dedicated care team. For more information on Zing Health, visit www.myzinghealth.com.
Contacts
Media: Newlight Partners Gasthalter & Co. Jonathan Gasthalter/Nathaniel Garnick (212) 257-4170
Taryn Williams Clark Zing Health Twilliams@purposebrand.com
Erica Frank, Vice President of Public Relations Oak Street Health Erica.Frank@oakstreethealth.com