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Venture Capital
reprohealthinvestors.org

Investments

25

Portfolio Exits

1

Funds

2

About Rhia Ventures

Rhia Ventures is a social impact investing and consulting firm dedicated to delivering capital and solutions to under-valued areas of reproductive health in the United States.

Headquarters Location

47 Kearny Street Suite 600

San Francisco, California, 94108,

United States

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Latest Rhia Ventures News

Tenet shareholders to vote for clarity on abortion policy

Apr 22, 2023

Friday, April 21st, 2023 Dallas-based Tenet Healthcare's corporation shareholders will soon vote for clarity on the system's abortion policies, Becker's has learned. An April 17 proxy memorandum was prepared and submitted by Rhia Ventures on behalf of one shareholder, the Seattle-based Marguerite Casey Foundation . The document asks Tenet's corporation shareholders to vote "Yes" on an item which — if approved — would request the hospital operator report on its current policies regarding abortion availability. "Clear and transparent policies are necessary to ensure that patients and doctors fully understand Tenet's policy regarding emergency abortions, and are necessary for investors to assess legal, reputational, market or financial risks that may extend from the Company's policies," the memorandum says. Tenet currently operates in 19 states that have adopted laws severely restricting abortion. It also owns and acquires many hospitals that publicly identify as Catholic facilities. Tenet says it follows the Emergency Medical Treatment and Labor Act, which "may contradict its statement that it also follows 'faith based commitments,'" according to the document, which asks the company to clarify which standards it requires Catholic hospitals to follow. The document suggests there are legal concerns associated with blurry abortion regulations. For example, it references a suit five women filed against Tenet's home state of Texas after they were initially denied emergency abortions at their local hospitals.Their physicians told them the abortion ban stopped them from providing care when they previously would have, and that they instead would have to wait until the women were sufficiently in crisis. Rhia Ventures works with a number of institutional investors, but only began talking to hospital companies this year, Jessica Feeley, its associate director of communications, told Becker's. "There was a wave of new stories that came out after the Dobbs decision about how physicians in states where there had been an abortion ban enacted were very confused as to whether they could offer emergency abortion services to people in need," Ms. Feeley said. Rhia Ventures reached out to Nashville, Tenn.-based HCA Healthcare with a similar request to clarify its abortion policy. HCA posted a statement in the legal disclosures segment of their website Dec. 20, clarifying their expectations of physicians in emergency medical circumstances. However, Tenet provided "very, very little clarity," according to Ms. Feeley. Tenet would not disclose which hospitals provide abortions, emergency or otherwise. The company also would not confirm if it was providing any additional guidance to physicians in states with strict abortion laws who might find themselves in sticky legal situations. This was concerning for the Marguerite Casey Foundation, its vice president of finance and investments, Daniel Gould, told Becker's. "As investors, we do think there are clear legal and reputational risks that will contribute to long-term financial risk in the scenario where this confusion remains," Mr. Gould said. "If this vote is not successful, that will run parallel to a reconsideration of our investment." The vote will take place May 25. Tenet Healthcare did not respond to Becker's request for comment. This story will be updated if more information becomes available.

Rhia Ventures Investments

25 Investments

Rhia Ventures has made 25 investments. Their latest investment was in Evvy as part of their Series A on August 8, 2023.

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Rhia Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/31/2023

Series A

Evvy

$14M

Yes

2

7/26/2023

Series B

AOA Dx

$17M

No

4

7/1/2023

Seed VC - II

Testmate

No

4/4/2023

Seed VC - II

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$99M

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10

3/1/2023

Unattributed VC - II

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0

Date

8/31/2023

7/26/2023

7/1/2023

4/4/2023

3/1/2023

Round

Series A

Series B

Seed VC - II

Seed VC - II

Unattributed VC - II

Company

Evvy

AOA Dx

Testmate

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Amount

$14M

$17M

$99M

New?

Yes

No

No

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Co-Investors

Sources

2

4

10

0

Rhia Ventures Portfolio Exits

1 Portfolio Exit

Rhia Ventures has 1 portfolio exit. Their latest portfolio exit was NURX on February 09, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

2/9/2022

Merger

$99M

6

Date

2/9/2022

Exit

Merger

Companies

Valuation

$99M

Acquirer

Sources

6

Rhia Ventures Fund History

2 Fund Histories

Rhia Ventures has 2 funds, including RH Capital Fund II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

11/2/2022

RH Capital Fund II

$40M

2

5/27/2020

RH Capital

$99M

10

Closing Date

11/2/2022

5/27/2020

Fund

RH Capital Fund II

RH Capital

Fund Type

Status

Amount

$40M

$99M

Sources

2

10

Rhia Ventures Team

2 Team Members

Rhia Ventures has 2 team members, including , .

Name

Work History

Title

Status

Lisa Hammann

Founder

Current

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Name

Lisa Hammann

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Work History

Title

Founder

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Status

Current

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