Latest news with #SutterHealth
Business Upturn
2 days ago
- Health
- Business Upturn
Sutter Health Breaks Ground on $442 Million Neuroscience Complex in San Francisco
SAN FRANCISCO, June 04, 2025 (GLOBE NEWSWIRE) — Sutter Health today broke ground on the new Sutter Advanced Neuroscience Complex at Mission Bernal – a major milestone in expanding access to high-quality neurological and neurosurgical care in Northern California. The five-story, 129,000-square-foot facility will be located at the corner of César Chávez and Valencia streets (3555 César Chavez Street) in San Francisco and is expected to open in 2028. Designed as a regional destination for brain health, the complex will unite care delivery, advanced diagnostics and research in one location. 'Sutter Health has a bold vision for brain health, and that vision includes building a state-of-the-art advanced neuroscience complex in San Francisco,' said Sutter Health President and CEO Warner Thomas. 'CPMC has cared for this community since the 1850s, and we're proud to continue that legacy by investing in a destination for neurological care that will serve patients and families locally and across the region. Our mission drives us to deliver accessible, high-quality care that fuels innovation and expands access so that more people can benefit from the highest standards of neurological health closer to home.' 'San Francisco is leading the nation in providing cutting-edge health care, and this project will bring exceptional neurological care to the heart of our city and better health outcomes for our residents,' said Mayor Daniel Lurie. 'Thank you to Sutter Health for their commitment to our city, to our residents, and to the Mission District. Together, we're building stronger, healthier communities and strengthening San Francisco's comeback.' High-Tech Hub for Brain Health This $442 million investment underscores Sutter Health's long-term commitment to expanding access to specialized, high-acuity care in San Francisco and the broader Bay Area. When complete, the Sutter Advanced Neuroscience Complex at Mission Bernal will bring together approximately 80 physicians and clinicians across range of neurological specialties – including Alzheimer's disease and dementia, ALS, headache, neurosurgery, neurology, epilepsy, neuro-oncology and movement disorders – to deliver seamless, integrated care in one location. The new complex will house a full spectrum of services, including neurology, neurosurgery, imaging, lab, infusion, rehabilitation and an on-site ambulatory surgery center. Patients will also benefit from direct access to leading research and clinical trials, further supporting advancements in diagnosis and treatment. Two of Sutter's nationally recognized programs – the Ray Dolby Brain Health Center and the Forbes Norris MDA/ALS Research and Treatment Center – will relocate to the new complex, enabling greater capacity and deeper collaboration among specialists. The site will also include underground parking to improve convenience for patients and visitors. In a related investment, Sutter plans to add two neurological intervention suites to the adjacent CPMC Mission Bernal campus hospital by 2027. These suites will offer advanced imaging and enable rapid detection and minimally invasive treatment of life-threatening neurological conditions. 'Our goal is to provide coordinated, comprehensive access to integrated care that merges the expertise of neurologists and neurosurgeons,' said Dr. Lewis Leng, a neurosurgeon with Sutter West Bay Medical Group. 'The new Sutter Advanced Neuroscience Complex at Mission Bernal will create more access to care for patients with neurological conditions and provide them the opportunity to take advantage of Sutter's award-winning neuroscience treatment and clinical research.' Christina Oh, president of Sutter's Greater San Francisco Division, added, 'Patients will be able to come to this location and visit their specialist, receive diagnostic lab and imaging, as well as outpatient procedures all in one complex. Having all these services under one roof will create a more convenient, coordinated experience.' The Sutter Advanced Neuroscience Complex is part of Sutter Health's broader strategy to invest nearly $1 billion in healthcare infrastructure across San Francisco over the next five years. This initiative aims to significantly expand access to specialized medical care, such as Sutter's new Otolaryngology-Head and Neck Surgery program, and enhance the overall patient experience. A Vision for Advanced Care and Clinical Training The Mission Bernal Care Complex is part of a larger effort by Sutter Health to address the growing healthcare needs of Northern California, with more than two dozen new facilities currently in development. Beyond expanding access, this complex reflects Sutter's strong commitment to education and workforce development, with plans to train over 1,000 medical residents and fellows by 2030. Sutter CPMC plays a key role in this effort, currently training residents and fellows in nationally accredited Graduate Medical Education programs across a wide range of specialties, including advanced heart failure and transplant cardiology, cardiovascular disease, internal medicine, gastroenterology, hand surgery, hematology-oncology, ophthalmology, pulmonary and critical care medicine, psychiatry and transplant hepatology. CPMC also offers additional training in neurocritical care, among other areas. 'This groundbreaking represents a pivotal moment in advancing Sutter Health's mission to provide high-quality, compassionate and innovative care,' said Ken McNeely, chair of the Sutter Health Board of Directors. 'It reflects our dedication to meeting the evolving healthcare needs of our community while preparing the next generation of physicians and care teams to carry that mission forward.' For more information about the Sutter Advanced Neuroscience Complex at Mission Bernal and Sutter Health's ongoing commitment to healthcare excellence, please visit About Sutter Health Sutter Health is a not-for-profit health care system dedicated to providing comprehensive care throughout California. Committed to community partnerships and innovative, high-quality patient care, Sutter Health is pursuing a bold new plan to reach more people and make excellent health care more connected and accessible. Sutter Health currently serves nearly 3.5 million patients, thanks to a dedicated team of more than 57,000 employees and clinicians and 12,000+ affiliated physicians, with a unified focus on expanding care to serve more patients. Sutter delivers exceptional and affordable care through its hospitals, medical groups, ambulatory surgery centers, urgent care clinics, telehealth, home health, and hospice services. Dedicated to transforming health care, at Sutter Health, getting better never stops. Learn more about how Sutter Health is transforming health care at and Attachments Artist rendering: Sutter Advanced Neuroscience Complex in San Francisco Groundbreaking for Sutter Advanced Neuroscience Complex in San Francisco Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Yahoo
2 days ago
- Health
- Yahoo
Sutter Health Breaks Ground on $442 Million Neuroscience Complex in San Francisco
State-of-the-art facility at CPMC's Mission Bernal campus will bring together leading-edge neurological care, research and technology under one roof Artist rendering: Sutter Advanced Neuroscience Complex in San Francisco Groundbreaking for Sutter Advanced Neuroscience Complex in San Francisco SAN FRANCISCO, June 04, 2025 (GLOBE NEWSWIRE) -- Sutter Health today broke ground on the new Sutter Advanced Neuroscience Complex at Mission Bernal – a major milestone in expanding access to high-quality neurological and neurosurgical care in Northern California. The five-story, 129,000-square-foot facility will be located at the corner of César Chávez and Valencia streets (3555 César Chavez Street) in San Francisco and is expected to open in 2028. Designed as a regional destination for brain health, the complex will unite care delivery, advanced diagnostics and research in one location. 'Sutter Health has a bold vision for brain health, and that vision includes building a state-of-the-art advanced neuroscience complex in San Francisco,' said Sutter Health President and CEO Warner Thomas. 'CPMC has cared for this community since the 1850s, and we're proud to continue that legacy by investing in a destination for neurological care that will serve patients and families locally and across the region. Our mission drives us to deliver accessible, high-quality care that fuels innovation and expands access so that more people can benefit from the highest standards of neurological health closer to home.' 'San Francisco is leading the nation in providing cutting-edge health care, and this project will bring exceptional neurological care to the heart of our city and better health outcomes for our residents,' said Mayor Daniel Lurie. 'Thank you to Sutter Health for their commitment to our city, to our residents, and to the Mission District. Together, we're building stronger, healthier communities and strengthening San Francisco's comeback.' High-Tech Hub for Brain Health This $442 million investment underscores Sutter Health's long-term commitment to expanding access to specialized, high-acuity care in San Francisco and the broader Bay Area. When complete, the Sutter Advanced Neuroscience Complex at Mission Bernal will bring together approximately 80 physicians and clinicians across range of neurological specialties – including Alzheimer's disease and dementia, ALS, headache, neurosurgery, neurology, epilepsy, neuro-oncology and movement disorders – to deliver seamless, integrated care in one location. The new complex will house a full spectrum of services, including neurology, neurosurgery, imaging, lab, infusion, rehabilitation and an on-site ambulatory surgery center. Patients will also benefit from direct access to leading research and clinical trials, further supporting advancements in diagnosis and treatment. Two of Sutter's nationally recognized programs – the Ray Dolby Brain Health Center and the Forbes Norris MDA/ALS Research and Treatment Center – will relocate to the new complex, enabling greater capacity and deeper collaboration among specialists. The site will also include underground parking to improve convenience for patients and visitors. In a related investment, Sutter plans to add two neurological intervention suites to the adjacent CPMC Mission Bernal campus hospital by 2027. These suites will offer advanced imaging and enable rapid detection and minimally invasive treatment of life-threatening neurological conditions. 'Our goal is to provide coordinated, comprehensive access to integrated care that merges the expertise of neurologists and neurosurgeons,' said Dr. Lewis Leng, a neurosurgeon with Sutter West Bay Medical Group. 'The new Sutter Advanced Neuroscience Complex at Mission Bernal will create more access to care for patients with neurological conditions and provide them the opportunity to take advantage of Sutter's award-winning neuroscience treatment and clinical research.' Christina Oh, president of Sutter's Greater San Francisco Division, added, 'Patients will be able to come to this location and visit their specialist, receive diagnostic lab and imaging, as well as outpatient procedures all in one complex. Having all these services under one roof will create a more convenient, coordinated experience.' The Sutter Advanced Neuroscience Complex is part of Sutter Health's broader strategy to invest nearly $1 billion in healthcare infrastructure across San Francisco over the next five years. This initiative aims to significantly expand access to specialized medical care, such as Sutter's new Otolaryngology-Head and Neck Surgery program, and enhance the overall patient experience. A Vision for Advanced Care and Clinical Training The Mission Bernal Care Complex is part of a larger effort by Sutter Health to address the growing healthcare needs of Northern California, with more than two dozen new facilities currently in development. Beyond expanding access, this complex reflects Sutter's strong commitment to education and workforce development, with plans to train over 1,000 medical residents and fellows by 2030. Sutter CPMC plays a key role in this effort, currently training residents and fellows in nationally accredited Graduate Medical Education programs across a wide range of specialties, including advanced heart failure and transplant cardiology, cardiovascular disease, internal medicine, gastroenterology, hand surgery, hematology-oncology, ophthalmology, pulmonary and critical care medicine, psychiatry and transplant hepatology. CPMC also offers additional training in neurocritical care, among other areas. 'This groundbreaking represents a pivotal moment in advancing Sutter Health's mission to provide high-quality, compassionate and innovative care,' said Ken McNeely, chair of the Sutter Health Board of Directors. 'It reflects our dedication to meeting the evolving healthcare needs of our community while preparing the next generation of physicians and care teams to carry that mission forward.' For more information about the Sutter Advanced Neuroscience Complex at Mission Bernal and Sutter Health's ongoing commitment to healthcare excellence, please visit About Sutter Health Sutter Health is a not-for-profit health care system dedicated to providing comprehensive care throughout California. Committed to community partnerships and innovative, high-quality patient care, Sutter Health is pursuing a bold new plan to reach more people and make excellent health care more connected and accessible. Sutter Health currently serves nearly 3.5 million patients, thanks to a dedicated team of more than 57,000 employees and clinicians and 12,000+ affiliated physicians, with a unified focus on expanding care to serve more patients. Sutter delivers exceptional and affordable care through its hospitals, medical groups, ambulatory surgery centers, urgent care clinics, telehealth, home health, and hospice services. Dedicated to transforming health care, at Sutter Health, getting better never stops. Learn more about how Sutter Health is transforming health care at and Attachments Artist rendering: Sutter Advanced Neuroscience Complex in San Francisco Groundbreaking for Sutter Advanced Neuroscience Complex in San Francisco CONTACT: Ashley Boarman Sutter Health 443-248-4532 boarmaa@ in to access your portfolio
Yahoo
19-05-2025
- Health
- Yahoo
Sutter Health Awarded Proposition 1 Funding to Expand Behavioral Health Services Across Northern California
Funding supports the expansion of mental health infrastructure at Sutter Coast Hospital and Sutter Center for Psychiatry, increasing access to care for underserved communities Northern California, May 19, 2025 (GLOBE NEWSWIRE) -- Building upon its commitment to expanding access to timely, high-quality mental health care, not-for-profit Sutter Health today announced it has been awarded $23 million through California's Proposition 1 Bond Behavioral Health Continuum Infrastructure Program (Bond BHCIP) Round 1: Launch Ready initiative. The funding, announced by Governor Gavin Newsom, is part of a historic $3.3 billion investment in behavioral health infrastructure, supporting 124 projects statewide. Sutter's Bond BHCIP grant funding will support two major mental health infrastructure projects: the expansion of Sutter Center for Psychiatry in Sacramento County and the construction of a new Emergency Psychiatric Assessment, Treatment, and Healing (EmPATH) unit at Sutter Coast Hospital in Del Norte County. These projects are part of a larger effort by Sutter to expand inpatient and outpatient mental health capacity, strengthen care coordination, and improve access for underserved communities. In addition to Bond BHCIP funding, Sutter is investing $27.6 million of its own capital to expand Partial Hospitalization Programs (PHP), Intensive Outpatient Programs (IOP), and other behavioral health services across Northern California. 'At Sutter Health, we are focused on expanding access to innovative, high-quality care in every community we serve,' said Warner Thomas, Sutter Health president and CEO. 'Bond BHCIP funding supports our mission by helping us strengthen mental health infrastructure and bringing timelier, coordinated behavioral health services to people who need them most. This investment aligns with our commitment to expanding mental health access and meeting the growing needs of patients and families across Northern California.' Why It Matters Treatment gaps persist – Nearly one in seven California adults experiences a mental health illness, yet roughly two-thirds of those individuals do not receive the needed care, according to a 2022 report by the California Health Care Foundation. Severe bed shortage – California has just 19.5 acute psychiatric beds per 100,000 adults, far below the 50 beds per 100,000 estimated to meet the statewide need. Proven crisis-care model – EmPATH units like the one at Sutter Coast Hospital have been shown to cut Emergency Department psychiatric wait times from 10 hours to 2 hours – an 80% reduction in boarding time. 'Bond BHCIP funding and Sutter's investments allows us to better meet patients at one of the most vulnerable moments in their health journey, with services designed to stabilize, support, and guide them to the next step in care,' said Matt White, M.D., Chair of Sutter Health's Behavioral Health Service Line. 'It allows us to expand critical programs and facilities so more people in crisis can get timely, appropriate treatment without unnecessary delays.' Sutter has a long-standing foundation in mental health care, with five inpatient centers and eight outpatient programs across Northern California. Expanding Behavioral Health Services Across Key Regions The two Sutter Health projects that were awarded Proposition 1 funding will increase access to behavioral health care for individuals and families, particularly in underserved communities. 1. Sacramento County Sutter Center for Psychiatry (SCP): Funding supports the addition of a 13-bed inpatient psychiatric unit, increasing SCP's total capacity to 84 beds. This expansion helps address Northern California's shortage of inpatient beds, improves transitions in care, and enhances support for patients with thought disorders, mood disorders, substance use disorders, and co-occurring conditions – with a focus on people from underserved populations. 2. Del Norte County Sutter Coast Hospital: Funding offsets construction costs for a new 3,000-square-foot EmPATH unit already under construction. This facility is designed to provide immediate care for individuals in acute psychiatric crisis, reduce the strain on emergency departments, and create a more calming, patient-centered care environment. The EmPATH model has been nationally recognized for reducing wait times and improving outcomes. 'Bond BHCIP represents a critical step forward in California's commitment to behavioral health care, and Sutter Health is proud to align with the state's vision for expanding access and strengthening services across the region,' said Grace Davis, senior vice president and Sutter Health's chief external affairs officer. 'By supporting initiatives like Bond BHCIP, we can continue to enhance care for underserved communities and create lasting, positive change for those in need.' Larger Strategy to Expand Access to Mental Health Services These new investments will help open more than 10,000 patient visits annually. Beyond these two projects receiving Bond BHCIP funding, Sutter is investing in projects, tools, and partnerships as part of an ongoing effort to expand access to mental health care and strengthen behavioral health services in 2025 and beyond. This includes a broader outpatient (ambulatory) expansion strategy using a Collaborative Care Model to bring mental health specialists into primary care clinics, making it easier for people to get timely support. A new partnership with Concert Health is helping grow this model, especially in rural areas. Bay Area In the East Bay, Sutter is investing $14 million to establish its first outpatient specialty behavioral health clinic and to expand existing PHP and IOP programs at Sutter's Alta Bates Summit Medical Center. The clinic is planned for the 5th floor of Alta Bates Summit's Herrick Campus located at 2001 Dwight Way in Berkeley. The new clinic will have more than 7,000 square feet of dedicated space, including three group therapy rooms and eight outpatient clinic offices. The expansion will allow for an estimated 6,000 additional patient visits annually. In San Francisco, Sutter is investing $13.6 million to open a new outpatient mental health clinic and PHP/IOP program next to California Pacific Medical Center's (CPMC) Psychiatric Residency Program. Located at 601 Duboce Avenue on CPMC's Davies Campus, the 8,533-square-foot space will include two PHP/IOP group rooms and four outpatient clinic offices, growing capacity for an estimated 4,300 more patient visits annually. Central Valley Sutter has expanded behavioral health services in California's Central Valley, specifically in Lodi, Turlock, and Modesto, providing more opportunities for people to get care closer to home. In Lodi, new services were added in January at 311 South Ham Lane, offering integrated care to address both physical and mental health needs. That same month, a new location opened in Turlock at 1000 Delbon Avenue, expanding access to psychiatry services and therapy. In Modesto, behavioral health professionals and family medicine doctors now work together in a reimagined space at 600 Coffee Road, providing a comprehensive approach to physical and mental health services in one place. Sutter plans on making additional investments to grow behavioral health access in the region. Impact By the Numbers Sutter's emergency psychiatric response programs are also helping reduce the strain of patients experiencing psychiatric emergencies on the 21 Sutter emergency departments across Northern California. Since 2024, these efforts have led to a 4.1% overall reduction in emergency room wait times, including a 10.1% decrease for patients needing inpatient psychiatric care—allowing clinicians to prioritize people with the most urgent medical and mental health needs. Sutter is adding more clinicians to both expand behavioral health services and provide more timely access to mental health and addiction care. Last year, Sutter grew its behavioral health team by 41.5%, adding 49 clinicians for a total of 167 providers, including psychiatrists, therapists, psychologists, and psychiatric advanced practice clinicians. For more information on Sutter Health's behavioral health services, click here. About Sutter Health Sutter Health is a not-for-profit health care system dedicated to providing comprehensive care throughout California. Committed to community partnerships and innovative, high-quality patient care, Sutter Health is pursuing a bold new plan to reach more people and make excellent health care more connected and accessible. Sutter Health currently serves nearly 3.5 million patients, thanks to a dedicated team of more than 57,000 employees and clinicians and 12,000+ affiliated physicians, with a unified focus on expanding care to serve more patients. Sutter delivers exceptional and affordable care through its hospitals, medical groups, ambulatory surgery centers, urgent care clinics, telehealth, home health, and hospice services. Dedicated to transforming health care, at Sutter Health, getting better never stops. Learn more about how Sutter Health is transforming health care at and About BHCIP BHCIP is administered by the California Department of Health Care Services (DHCS) and supports the development of new or expanded behavioral health facilities across the state. Through BHCIP, DHCS has competitively awarded grants to construct, acquire, and expand properties and invest in mobile crisis infrastructure for behavioral health. Proposition 1, passed in March 2024, increases funding opportunities to expand BHCIP to serve even more Californians with mental health and substance use disorders through infrastructure development. For information on Bond BHCIP, visit the BHCIP webpage. CONTACT: Ashley Boarman Sutter Health 1 (800) 428-7377
Associated Press
14-05-2025
- Health
- Associated Press
California chief nurse officer recognized as national champion for women s health
( NewMediaWire ) - May 14, 2025 - DALLAS — Cardiovascular disease (CVD) is the No. 1 killer of women and nearly 45% of women over age 20 are living with some form of cardiovascular disease, according to the American Heart Association, a global force changing the future of health for all. Katrina (Kat) Ascencio-Holmes, the Heart Association's 2025 National Woman of Impact(TM) Winner, from Sacramento, California, is working to change that. She's shining a spotlight on women's health while raising funds to fuel the lifesaving mission of the American Heart Association, a global force changing the future of all health, through the Go Red for Women(R) movement. As a chief nurse officer at Sutter Health and a heart-health advocate from Sacramento, California, Ascencio-Holmes brings both personal experience and professional passion to her mission to save more women's lives and inspire them to take control of their health. For her, the mission is personal. While Ascencio-Holmes worked as an open-heart surgical nurse early in her professional career, her connection to heart disease became more poignant when her sister-in-law tragically passed away from a massive heart attack at just 40 years old. That loss emphasized, for her, the critical need for awareness around cardiovascular disease in women. 'Saying 'yes' to the Woman of Impact nomination was not just an opportunity—it was a way to honor my loved ones and contribute to a mission that can save lives,' Ascencio-Holmes said. 'By encouraging open discussions about cardiovascular disease and stroke awareness, we can create an environment where women feel supported in prioritizing their health.' The Woman of Impact campaign launched on National Wear Red Day(R), Feb. 7, and culminated on April 10. Peer volunteers in 96 communities across the country nominated 507 participants to join a nine-week initiative to raise awareness for women's heart health, drive action to improve the health of women in their communities and ultimately help fund the lifesaving mission of the Heart Association. 'The Woman of Impact campaign is a way for us to recognize the incredible changemakers in our communities who are fighting for heart health,' said Marsha Jones, American Heart Association volunteer board chair and retired financial executive for The PNC Financial Services Group. 'At the American Heart Association, our future is about improving yours. Katrina and the other nominees are enabling more women to live longer and healthier lives.' As the National Winner, Ascencio-Holmes will continue to advocate for the work being done through the Go Red for Women movement. For more information about the Woman of Impact campaign and the American Heart Association's Go Red for Women movement, visit Additional Resources: ### About the American Heart Association The American Heart Association is a relentless force for a world of longer, healthier lives. Dedicated to ensuring equitable health in all communities, the organization has been a leading source of health information for more than one hundred years. Supported by more than 35 million volunteers globally, we fund groundbreaking research, advocate for the public's health, and provide critical resources to save and improve lives affected by cardiovascular disease and stroke. By driving breakthroughs and implementing proven solutions in science, policy and care, we work tirelessly to advance health and transform lives every day. Connect with us on Facebook, X or by calling 1-800-AHA-USA1. About Go Red for Women(R) The American Heart Association's signature initiative, Go Red for Women(R), is a comprehensive platform designed to increase women's heart health awareness and serve as a catalyst for change to improve the lives of women globally. While the majority of cardiac events can be prevented, cardiovascular disease is the leading cause of death in women, claiming the lives of 1 in 3 women. For more than two decades, Go Red for Women has encouraged awareness. The movement harnesses the energy, passion and power of women to band together and collectively wipe out heart disease. It challenges them to know their risk for heart disease and take action to reduce their personal risk. It also gives them tools they need to lead a heart healthy life. The Go Red for Women movement is nationally sponsored by CVS Health, with additional support from national cause supporters. For more information, please visit or call 1-800-AHA-USA1 (242-8721). For Media Inquiries: Katie Kwapich: 419-260-5808; [email protected] Public Inquiries: 1-800-AHA-USA1 (242-8721) and
Business Journals
07-05-2025
- Business
- Business Journals
Daily Digest: Smart and Final eyes vacant Fillmore Safeway; Zoox to rev up Bay Area presence
Good morning, Bay Area. Starting your midweek news crawl with some cleaning products, Clorox CEO Linda Rendle this week told investors that more shoppers are leaving bleach, Glad bags and its other products on store shelves so they can buy iPhones and cars ahead of potential tariff hikes. Senior Reporter Mark Calvey has more on how investors in the Oakland-based company reacted. Turning to health care, Sutter Health and Anthem Blue Cross announced a new multiyear agreement that extends a relationship through 2028, ensuring access to care for NorCal Anthem members via Sutter. In biotech, Menlo Park-based Synthego Corp., which makes gene-editing tools for drug developers, filed for bankruptcy with plans to sell itself to its main lender, an affiliate of private equity firm Perceptive Advisors. Bloomberg reports that Perceptive Credit Holdings III would trade as much as $85 million in debt for ownership of Synthego, unless a higher offer comes in. In aviation, two United Airlines aircraft clipped wings while preparing to depart from San Francisco International Airport on Monday night, the Chronicle reports, as the incident happened an area where air traffic controllers do not communicate directly with flight crews. And finally in entertainment, Outside Lands revealed its lineup for the August show in Golden Gate Park. This year the concert will feature Beck, Doja Cat, 'Anxiety' rapper Doechii, Vampire Weekend and more. Here's the rest of your morning business news lineup to get your Wednesday moving. FDA appoints UCSF professor, industry critic to lead division overseeing vaccines The U.S. Food and Drug Administration has named Vinay Prasad, a hematologist oncologist and professor at the University of California, San Francisco, to lead its Center for Biologics Evaluation and Research, the division that oversees vaccines and biologic medicines. Prasad, who was an outspoken critic of the government's response and its vaccine policies during the pandemic, replaces Peter Marks, who helped lead the division for 13 years and shaped the Operation Warp Speed effort to rapidly develop Covid-19 vaccines and treatments. Prasad's appointment triggered a downturn across several Bay Area biotech stocks on Tuesday. GET TO KNOW YOUR CITY Find Local Events Near You Connect with a community of local professionals. Explore All Events expand Dr. Vinay Prasad Kristyna Wentz-Graff | OHSU Zoox lays plans to rev up in Bay Area Amazon's self-driving subsidiary Zoox is revving up its presence in the Bay Area as it's planning to open a new production facility to expand its robotaxi fleet beyond its current Fremont operation, co-founder Jesse Levinson told the Financial Times. The company plans to begin public rides in Las Vegas this year followed by San Francisco, with production ramping up in 2026. This comes as Zoox paused its driverless testing program in April for more than a week and issued a voluntary recall of its software following a crash in Las Vegas, TechCrunch reports. Smart and Final offers to occupy vacant Safeway store in Fillmore SoCal grocer Smart and Final has submitted an offer to backfill a 40,000-square-foot building at 1335 Webster St. in the Fillmore that Safeway vacated in February, the Chronicle reports. The property is under contract to sell to Align Real Estate, a San Francisco developer that has plans for a mixed-use development at the site, potentially including as many 1,000 new homes, but it has yet to close the deal with Safeway or apply for the project with the city. An interim lease at 1335 Webster with Smart and Final would be subject to approval by Safeway and Align. expand Align Real Estate is under contract to purchase the Safeway at 1335 Webster, pictured, and has plans to redevelop it into housing and retail space. Google Maps Is Anthropic shifting its stock options? San Francisco-based AI upstart Anthropic appears to be transitioning from stock options to restricted stock units, or RSUs, in its equity compensation plan. Zuhayeer Musa, co-founder of Cupertino-based posted on LinkedIn Tuesday that a recent submission from a senior software engineer at Anthropic "shows that their $250,000 per yearly equity grant is split across different types of equity: options in year 1, and RSUs from years 2 through 4." Musa said startups typically offer stock options because the lower valuation means a low strike price, giving employees big upside if the company grows, but as the company grows, exercising options becomes expensive and riskier, which is when they often transition to RSUs, which are "more stable, easier to understand, and don't require employees to front cash." I reached out to Anthropic and will update if I hear back. Bay Area AI company agrees to pay $1.5 million to resolve allegations Vimaan Robotics, Inc., a San Jose-based company that develops computer vision and AI warehouse management solutions, has agreed to pay $1.5 million to resolve allegations that it violated the False Claims Act by improperly accepting and drawing down funds from a grant award that it was ineligible to receive. The settlement relates to a Small Business Innovation Research Phase II grant that Vimaan obtained from the National Science Foundation. Sign up for the Business Times' free morning and afternoon daily newsletters to receive the latest business news driving change in San Francisco. Download the free San Francisco Business Times app for breaking news alerts on your phone. M&A Watch San Francisco-based TPG is buying wireless tower investment firm Peppertree Capital Management as the alternative asset manager expands further into digital infrastructure. The firm will acquire Peppertree for about $242 million in cash and as much as $418 million in equity, according to a statement Tuesday. In addition, TPG — together with payments company Corpay Inc. (NYSE: CPAY) — is also buying Charlotte-based AvidXchange Holdings Inc. (Nasdaq: AVDX), a financial technology firm specializing in payment processing for midsize businesses, in a deal valued at $2.2 billion. Weave (NYSE: WEAV) acquired TrueLark, a Palo Alto-based customer communications platform that had raised around $10 million from firms like BluePointe Ventures and Elevate Capital. People on the Move San Francisco-based Sigma named Fred Studer as chief marketing officer. He previously served as CMO at several leading high-tech and enterprise technology companies, including PowerSchool Holdings Inc., TIBCO, Certinia, Gigamon and NetSuite. Numem – a Sunnyvale-based tech company focused on accelerating memory for AI workloads – today announced the addition of two former Intel execs to its executive team: Rob Crooke was elected as an independent board member and Ashu Bakhle has joined as a senior technical advisor. Palo Alto-based law firm Wilson Sonsini Goodrich & Rosati announced that Yang Chu has joined the firm as a corporate partner in its Hong Kong office. Funding Watch NewLimit, a startup that aims to increase how long people can live a healthy life by genetically programming their cells, has raised a $130 million Series B led by Kleiner Perkins. Senior Reporter Ron Leuty has the story. Layoff Watch Nonprofit Urban Alchemy, which administers San Francisco's street safety ambassador program, is set to lay off 57 staff members, effective June 30, according to a WARN filing with the state. The layoffs will affect workers in the BART and Tenderloin divisions. Final thought … Calling all Edward Berger fans, it's Conclave Wednesday in Vatican City, as a new pope is set to be ordained later today. This afternoon, the 133 voting cardinals will cast their ballots for the next pontiff. If a cardinal receives more than two-thirds of the vote, there will be a new passenger in the popemobile. DOWNLOAD the free SFBT app for breaking news alerts on your phone. The largest accounting firms in the East Bay East Bay client service professionals Rank Prior Rank Business name/Prior rank 1 11 CBIZ Inc. & CBIZ CPAs 2 2 Armanino LLP 3 6 Withum View this list
