Word: investers
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Although the University has not yet declared that it would invest in the ailing HMO, it has spent the last few days attempting to persuade investors to help save the company that Harvard helped create in 1969. Following a common sense business strategy, Harvard is playing it safe by requesting that other investors come forward before fully committing to any bail-out plan...
Harvard's current proposal calls for investment from major employers in the state and looks to be a viable answer for the time being, especially now that the state has rejected a proposal in which hospitals to whom HPHC is deeply in debt would invest in the HMO. The state has refused to guarantee loans the hospitals would take out in order to fund their investment...
Harvard has had the foresight to invest in good causes in the past, recently loaning money for affordable housing in the Boston area. From a business perspective HPHC, with its high risk and low short-term returns, might not be the most attractive investment. But Harvard, as a responsible and interested member of the community, should look further into the future. So long as there are sufficient guarantees of eventual turn-around in HPHC's financial outlook, Harvard should continue to financially and publicly support...
...plan, Harvard would not be the "principal investor" in any plan. He would not offer any estimate of the maximum portion of the $225 million needed by the insurer that Harvard would spend. And he declined to say where the money would come from, if Harvard does decide to invest...
Wrinn said the state brought Harvard into plans to help the insurer and did not initiate itself the idea to invest...