ICOM Announces New Investment from Social Impact Fund

The Idaho College of Osteopathic Medicine (ICOM) today announced that The Rise Fund, TPG’s multi-sector global impact investing strategy with deep experience in higher education and the healthcare industry, has become a minority investor in the College.

Rice Management Company, which manages the endowment for Rice University, will continue to be the single largest investor in the College. The investment has been reviewed and unanimously approved by the College’s Board of Trustees, of which a majority of the voting members are independent, non-shareholders. 

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

“We look forward to partnering with ICOM to train a new generation of physicians including in primary care fields serving rural and other underserved areas. ICOM’s mission is well-aligned with The Rise Fund’s goal to increase access to accredited professional training and to improve access to healthcare and health outcomes,” said John Rogers, Partner and Education Sector Lead for The Rise Funds.

In conjunction with this announcement, Nick Turkal, MD, has been named to the ICOM Board of Trustees. Dr. Turkal brings more than two decades of experience in medical education, previously serving as President and CEO of Advocate Aurora Health Care. He has also served as Associate Dean of the University of Wisconsin School of Medicine and on the Board of Trustees for Creighton University.

“I look forward to executing on our shared vision to support the school’s development and positive impact. We are excited to develop new cohorts of physicians in primary care and other critical specialties,” said Dr. Turkal.

The Rise Fund will appoint three members to the College’s 13-member Board of Trustees. The investment will not result in any changes to the academic programs, operations, or leadership of the College.

In addition to Rise, Rice Management Company (RMC) has appointed Ceci Arreola, MBA, who is the head of Portfolio and Asset Management for RMC. Ceci received her M.B.A. from the University of Texas at Austin McCombs School of Business and has a Bachelor of Arts degree in honors sociology, cum laude from Rice University. She is an active member of the Urban Land Institute and serves as the Vice Chair for its Women’s Leadership Initiative in Houston. 

The Commission on Osteopathic College Accreditation (COCA) reviewed and approved the investment at its Aug. 26-27, 2021 meeting. ICOM remains on track to graduate its inaugural Class of 2022 on May 13, 2022, and achieve full accreditation this spring.

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