University of Houston scores $1 million from top Texas foundation

A HEALTHY BOOST FOR THE COOGS

The new $1 million gift will target top recruits. Photo courtesy of University of Houston

One of the most prestigious foundations in Texas has made a generous gift to a local university's fledgling medical department. The M.D. Anderson Foundation has pledged $1 million to the University of Houston College of Medicine, UH announced.

The sizable gift is meant to establish the M.D. Anderson Foundation Endowed Professorship in Medicine, specifically to recruit a leader in health care to join the College of Medicine faculty, according to a press release.

The gift, matched one-to-one by an anonymous donor to create a $2 million endowment, aims to support the new medical school's mission to improve health and health care in underserved communities in Houston and across Texas.

This isn't the first time the M.D. Anderson Foundation has supported UH. The foundation has gifted more than $6 million to UH Libraries, UH Law Center, Hobby School of Public Affairs, and the College of Medicine.

"Innovation in health care requires a fresh approach and a willingness to break down traditional silos to collaborate with experts in other health disciplines such as pharmacy, engineering, law and even data sciences, said Dr. Stephen Spann, founding dean of the UH College of Medicine," in a statement.

"By harnessing the power of data analytics, we can fundamentally change the way we deliver higher quality and cost-effective care to more people. Thanks to the M.D. Anderson Foundation's generosity and vision, we will be able to recruit a new faculty member who can help us greatly to accomplish these goals."

As previously reported, UH received a $50 million gift from an anonymous donor in 2019 to establish the "$100 Million Challenge," meant to recruit top nationally recognized and awarded research faculty for chairs and professorships, designed to inspire another $50 million in investments from additional donors.

Now, the school hopes to utilize these funds to address what the school describes as a "critical primary care physician shortage, especially in low-income and minority communities lacking access to a regular source of care and have gaps in preventative care, which leads to higher rates of sickness, hospitalization, and death."

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This article originally ran on CultureMap.

Lisa and Nicky Holdeman are ensuring a bright future of UH med students. Photo courtesy of University of Houston

University of Houston power couple prescribes major gift for college of medicine

funding future doctors

University of Houston medical students and staff will receive a gift that's just what the doctor ordered.

A prestigious and longtime UH power couple has bequeathed two major gifts a major gift to the school's burgeoning College of Medicine. Dr. Nicky and Lisa Holdeman — who together boast more than 45 years at the university — have established an endowed and chair/professorship and a scholarship for medical students, the school announced.

In their will/trust the Holdemans have established, per UH:

  • The Nicky R. and Lisa K. Holdeman Endowed Professorship/Chair, which will support a clinical teaching faculty member responsible for the oversight and strategic direction of the College of Medicine's clinics, as well as enhancing the student and patient experience.
  • The Nicky R. and Lisa K. Holdeman Endowed Scholarship, which will support students in the College of Medicine, which was founded in 2020 on a social mission to improve health and health care in underserved communities in Houston and across Texas.

The Holdemans say that they were inspired by the UH College of Medicine's mission to address a significant statewide primary care physician shortage and how social determinants of health, such as income, housing, food supply and transportation, contribute to health outcomes.

"I have a true admiration for the comprehensive physician, someone comfortable addressing multiple health issues," Nicky Holdeman relays in a statement. "The physicians being trained at the University of Houston will be well prepared to manage most of the patients, with most conditions, most of the time. That's really what primary care medicine is all about."

As previously reported, UH's medical school will welcome its second class of 30 students this summer and will have 480 students at full enrollment, within the decade.

More on the duo, who have been married for 38 years: A UH biography notes that Nicky, physician and professor emeritus at the UH College of Optometry, served as associate dean for clinical education and executive director of the University Eye Institute during his 30 years at the college. He retired in 2019.

Meanwhile, Lisa joined UH in 2006 and serves as vice chancellor for the UH System and vice president for UH marketing and communications. She works directly with UH System Chancellor and UH President Renu Khator and school leadership.

"This gift is especially gratifying because it comes from two dedicated UH leaders whose professional careers have already contributed so much to our University's success," said Renu Khator. "That kind of enlightened commitment on their part sets an admirable example. I know I speak for many when I express our deep appreciation for their generous support of the College of Medicine and the important work it is undertaking in our community."

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This article originally ran on CultureMap.

The University of Houston broke ground on its new medical school building and named the College of Medicine's inaugural class. Photo via UH.edu

Houston medical school presents inaugural class as construction begins on new building

doctors in training

This month, the University of Houston has taken a couple huge steps toward establishing a prestigious medical school program — the first new medical school to be established in Houston in almost 50 years.

UH has broken ground on its $80 million medical school building that is expected to be completed in 2022, and the program has named its inaugural class.

The new cohort of future doctors is a group diverse in ethnic background and life experience. The school plans to tackle a key issue in public health: the shortage of primary care doctors. These future doctors are charged by the university with eliminating health disparities in underserved urban and rural areas, which often have poorer health outcomes.

The UH College of Medicine received 1,728 applications for its first class of students; 164 applicants were interviewed for the 30 available spots, according to UH. An 18-member admissions committee screened those most likely to pursue primary care.

Here is a breakdown of UH's inaugural medical school class:

  • 30 students
  • 73 percent underrepresented minorities in medicine
  • 63 percent female
  • 57 percent first generation in college
  • 40 percent low socioeconomic status
  • 100 percent Texas resident
  • Five graduates of the University of Texas at Austin; two graduates each from the University of Houston, Baylor, Texas A&M, Houston Baptist, Prairie View A&M, and Rice University

According to the school, the goal is for 50 percent of graduates of the UH College of Medicine to choose primary care specialties including family medicine, general internal medicine, and general pediatrics. For some perspective, nationally, only about 20 percent of medical students choose primary care.

"We were very deliberate in our pursuit of medical students who fit the mission. This is much different than most other medical schools because we need different solutions for the current health care problems facing our city and state," said Dr. Stephen Spann, founding dean of the College of Medicine, in a statement.

Each student will receive a $100,000 four-year scholarship through philanthropy to cover tuition and fees. At full enrollment, the College of Medicine will have 480 students, per the school. The Health 2 Building in the UH Medical District will be the college's temporary home for the first two years until a new $80 million medical school building is completed in 2022. Construction crews broke ground on the new building on June 15, according to the university.

Being part of UH's inaugural medical school is deeply personal for students such as Cenk Cengiz. At 14, Cengiz's family emigrated from Turkey to Houston, but could not afford health insurance. Cengiz attended high school and college without ever seeing a doctor, which attracted him to the field of medicine and peaked his interest in the medical school's unique mission to help underserved communities.

"I came a long way from washing dishes at age 14 at a pizza store," Cengiz said in a statement. "My parents are super proud of me."

Dr. Stephen Spann is the founding dean of the College of Medicine. Photo via uh.edu

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This article originally ran on CultureMap.

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8+ can't-miss Houston business and innovation events in April

where to be

Editor’s note: Houston's weeklong innovation festival kicks off April, followed by Rice University's globally recognized pitch competition returning for its 26th year. Plus, find coworking pop-ups, industry meetups, pitch battles and even a crawfish boil on the calendar. Here’s what not to miss and how to register. Please note: this article might be updated to add more events.

March 30-April 4 — H-Town Roundup

Celebrate innovation, entrepreneurship and collaboration at Houston Exponential's sixth-annual H-Town Roundup. During the free event series, previously known as Houston Tech Rodeo, attendees can expect insightful talks, workshops and networking events at venues across the city.

This event began March 30. Register here.

April 2 — Industrious Coworking Day

Enjoy a complimentary day of cowering at Industrious and network with professionals at the Ion. Breakfast, snacks, wifi and workspace tours are included. Following the cowering day, Industrious will host happy hour at Second Draught from 4-6 p.m.

This event is Thursday, April 2, from 8:30 a.m.-5 p.m. at the Ion. Register here.

April 2 — Technology Summit for Women

The fourth annual Women in Tech Cummil will feature speakers across three core tracks: Transformation + Digital strategy, Cyber + Risk + Resilience, and AI in Practice. Pearl Chu, director of technical domains and university relations at SLB, will give the opening remarks. Other panelists come from CenterPoint Energy, BP, Technip Energies and other leading companies.

This event is Thursday, April 2, from 2-5 p.m. at the Ion. Register here.

April 8 — Veterans Business Battle

Hear pitches from veterans and entrepreneurs as they compete for more than $10 million in investments at Rice Businesses' 12th annual Veterans Business Battle. This year, the two-day event will also feature a Small Business Expo, which invites Houston-based, veteran-owned businesses to participate in education, networking and the opportunity to showcase their business. Moonshots Capital and Mercury Fund will also host a fireside chat.

This event begins Wednesday, April 8, at 11 a.m. at the Ion. Click here to register.

April 9-11 — Rice Business Plan Competition

The Rice Alliance for Technology and Entrepreneurship will host the 26th annual Rice Business Plan Competition this month. Forty-two student-led teams from around the world, including one team from Rice, will present their plans before more than 300 angel, venture capital, and corporate investors to compete for more than $1 million in prizes.

This event begins Thursday, April 9. Find more information here.

April 10 — BioHouston Chili Cookoff

Connect with Houston's life sciences community at BioHouston's 21st annual chili cookout. This event is geared toward startup founders, researchers and industry veterans alike.

This event is Friday, April 10, from noon-4 p.m. at Bayou City Event Center. Register here.

April 14 — Mercury Fund Day at the Ion: Agentic Commerce

Don’t miss the latest installment of Mercury Fund Day at the Ion, previously known as Software Day. The recurring monthly event features office hours (by application), a keynote and networking opportunities. This month's topic focuses on agentic commerce.

This event is Tuesday, April 14, from 3:30-7 p.m. at the Ion. Register here.

April 19 – UH Energy Industry Crawfish Boil

Head to the UH Cullen College of Engineering Green Space for the 35th annual UH Energy Industry Crawfish Boil. The event will include a student showcase, STEM activities, a kids zone, live music, networking and, of course, crawfish. Proceeds from the event will support the multidisciplinary capstone fund that aims to increase professional readiness for Cullen College engineering and technology students.

This event is Sunday, April 19, from 1-5 p.m. at the Cullen College of Engineering Green Space. Find more information here.

April 24 — Rice Business Healthcare Conference

Leading experts, innovators and the next generation of healthcare leaders will converge at the Rice Business Healthcare Conference. Hosted by the Rice Business Healthcare Association, the conference will explore AI's potential impact on the sector.

This event is Friday, April 24, from 8 a.m.-2 p.m. at McNair Hall on Rice University's campus. Find more information here.

Houston unicorn closes $421M to fuel first phase of flagship energy project

Heating Up

Houston geothermal unicorn Fervo Energy has closed $421 million in non-recourse debt financing for the first phase of its flagship Cape Station project in Beaver County, Utah.

Fervo believes Cape Station can meet the needs of surging power demand from data centers, domestic manufacturing and an energy market aiming to use clean and reliable power. According to the company, Cape Station will begin delivering its first power to the grid this year and is expected to reach approximately 100 megwatts of operating capacity by early 2027. Fervo added that it plans to scale to 500 megawatts.

The $421 million financing package includes a $309 million construction-to-term loan, a $61 million tax credit bridge loan, and a $51 million letter of credit facility. The facilities will fund the remaining construction costs for the first phase of Cape Station, and will also support the project’s counterparty credit support requirements.

Coordinating lead arrangers include Barclays, BBVA, HSBC, MUFG, RBC and Société Générale, with additional participation from Bank of America, J.P. Morgan and Sumitomo Mitsui Trust Bank, Limited, New York Branch.

“As demand for firm, clean, affordable power accelerates, EGS (Enhanced Geothermal Systems) is set to become a core energy asset class for infrastructure lenders,” Sean Pollock, managing director, project Finance at RBC Capital Markets, said in a news release. “Fervo is pioneering this step change with Cape Station, a vital contribution to American energy security that RBC is proud to support.”

The oversubscribed financing marks Cape Station’s shift from early-stage and bridge funding to a long-term, non-recourse capital structure, according to the news release.

“Non-recourse financing has historically been considered out of reach for first-of-a-kind projects,” David Ulrey, CFO of Fervo Energy, said in a news release. “Cape Station disrupts that narrative. With proven oil and gas technology paired with AI-enabled drilling and exploration, robust commercial offtake, operational consistency, and an unrelenting focus on health and safety, we have shown that EGS is a highly bankable asset class.”

Fervo continues to be one of the top-funded startups in the Houston area. The company has raised about $1.5 billion prior to the latest $421 million. It also closed a $462 million Series E in December.

According to Axios Pro, Fervo filed for an IPO that would value the company between $2 billion and $3 billion in January.

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This article first appeared on EnergyCapitalHTX.com.

Houston food giant Sysco to acquire competitor in $29 billion deal

Mergers & Acquisitions

Sysco, the nation's largest food distributor, will acquire supplier Restaurant Depot in a deal worth more than $29 billion.

The acquisition would create a closer link between Sysco and its customers that right now turn to Restaurant Depot for supplies needed quickly in an industry segment known as “cash-and-carry wholesale.”

Sysco, based in Houston, serves more than 700,000 restaurants, hospitals, schools, and hotels, supplying them with everything from butter and eggs to napkins. Those goods are typically acquired ahead of time based on how much traffic that restaurants typically see.

Restaurant Depot offers memberships to mom-and-pop restaurants and other businesses, giving them access to warehouses stocked with supplies for when they run short of what they've purchased from suppliers like Sysco.

It is a fast growing and high-margin segment that will likely mean thousands of restaurants will rely increasingly on Sysco for day-to-day needs.

Restaurant Depot shareholders will receive $21.6 billion in cash and 91.5 million Sysco shares. Based on Sysco’s closing share price of $81.80 as of March 27, 2026, the deal has an enterprise value of about $29.1 billion.

Restaurant Depot was founded in Brooklyn in 1976. The family-run business then known as Jetro Restaurant Depot, has become the nation's largest cash-and-carry wholesaler.

The boards of both companies have approved the acquisition, but it would still need regulatory approval.

Shares of Sysco Corp. tumbled 13% Monday to $71.26, an initial decline some industry analysts expected given the cost of the deal.

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