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Operator of four Bay Area hospitals files for bankruptcy

Operator of four Bay Area hospitals files for bankruptcy

Verity Health System of California Inc., a nonprofit operator of six California hospitals managed by billionaire Patrick Soon-Shiong’s NantWorks LLC, has voluntarily filed for protection under Chapter 11 bankruptcy protection while it continues to seek a buyer. Verity, which submitted the filing Thursday to U.S. Bank Bankruptcy Court for the Central District of California – Los Angeles Division, has secured debtor-in-possession financing of up to $185 million. This additional liquidity will…

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Nike, Adidas, Under Armour apparel deals keep getting bigger. Here are the biggest in the NCAA. (Gallery)

Nike, Adidas, Under Armour apparel deals keep getting bigger. Here are the biggest in the NCAA. (Gallery)

When University of Louisville athletes arrived on campus in fall 2005, they divvied up $670,000 in Adidas footwear and apparel. The sportswear company also wrote the university a $20,000 check in exchange for the right to outfit players. This year, the university’s athletes will get $6 million in Adidas gear and the school will get $10 million in cash. The university also will get $3 million from Adidas for help marketing the athletic department. Louisville’s new Adidas deal — signed in July…

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The Funded: Lyft IPO preparations and other pre-Labor Day venture news

The Funded: Lyft IPO preparations and other pre-Labor Day venture news

Lyft Inc. may try to beat Uber Technologies Inc. to Wall Street, according to a report Friday about IPO preparations it is making. The company has hired Class V Group to advise to help, according to Bloomberg, and is aiming for a March or April listing. Uber is reportedly planning its IPO in the second half of next year. One big question for the San Francisco on-demand mobility competitors is whether whoever goes first will take investors away from whoever goes second. Then again, a strong showing…

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