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ICOM takes on new investment from large private equity firm

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The Idaho College of Osteopathic Medicine announced it added a new minority investor. The for-profit private medical school in Meridian gained an investment from TPG – one of the world’s largest private equity firms. TPG will invest in ICOM through its Rise Fund, which is focused on businesses in the social impact space.

The investment was reviewed by The Commission on Osteopathic College Accreditation last August, but the school made the announcement today.

“We look forward to benefiting from The Rise Fund’s deep expertise in continuing education and healthcare delivery,” ICOM President Dr. Tracy J. Farnsworth said. “With The Rise Fund’s support, we will enhance our graduate medical education program and expand our clinical network.”

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TPG is known for a slew of investments in prominent names, from Burger King to Chobani to Airbnb and more. Its Rise Fund centers on businesses in sectors like food, energy, healthcare, and technology that are “changing the world.”

TPG will join other investors in the college, with Rice Management Company as the largest single owner. RMC manages the endowment for Rice University. The school was founded by Dan Burrell. His Burrell Group lists ICOM among its investments.

The school didn’t detail how much TPG would invest, what the value of the college is, or what percentage each entity controls.

ICOM is set to graduate its first class this spring after launching in 2018. The school is not accredited but says it hopes to gain “full accreditation” this spring.

Don Day - BoiseDev Editor & Founder
Don Day - BoiseDev Editor & Founder
Don is the founder and publisher of BoiseDev. He is a National Edward R. Murrow Award winner and a Stanford University John S. Knight Fellow. Contact him at [email protected].

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