Paying a per-employee fee, companies can give their team access to a one-stop-shop approach to medical care with Crossover. Courtesy of Crossover

Information technology provider HP Inc. and other major employers in the Houston area are exploring a new way to offer medical care to their employees.

A California company called Crossover Health just opened a 5,300-square-foot medical clinic in Spring. The clinic — Crossover Health's first in the Houston area — enables several self-insured employers to share one provider of primary healthcare services for their employees in an effort to cut costs and promote convenience.

Aside from primary medical care, offerings at the Spring clinic include physical therapy, and chiropractic, acupuncture, and fitness services. Each employer pays a monthly per-employee fee for access to Crossover Health.

At the Spring center, Crossover Health seeks to act on its "belief that healthcare should be convenient, simple to navigate, affordable, and personalized."

The Spring location, at 28420 Hardy Toll Road, features four rooms for primary care, and two each for physical therapy, acupuncture, and health coaching. At the outset, the clinic employs 13 people, but more hires are planned as Crossover Health adds clients there.

Palo Alto, California-based HP is the only client of the Spring clinic that Crossover Health is permitted to identify. In February, HP moved about 2,400 employees into its new two-building, 12-acre campus at Springwoods Village, a master-planned community just west of the Crossover Health clinic. Later this year, San Jose, California-based Hewlett Packard Enterprise Co., a sister company of HP, is scheduled to kick off construction of a new campus at Springwoods Village.

Neighboring employers include ExxonMobil, Southwestern Energy, and the American Bureau of Shipping.

For employers, Crossover Health operates medical clinics that are at or near worksites. Outside the Houston area, Crossover Health's corporate clients include Apple, LinkedIn, and Visa.

Larry Boress, executive director of the Dallas-based National Association of Worksite Health Centers, says clinics like Crossover Health's can reduce travel time for employees heading to medical appointments and, as a result, can improve productivity.

"The value of a worksite health and wellness center for both large and small employers in Houston is that it offers the ability to gain real value on their healthcare investment," Boress says.

Aside from trimming healthcare costs, such centers can boost employee satisfaction and decrease absenteeism, he says.

"These centers have also been found to help employers be an employer of choice, benefiting recruitment and retention of employees," Boress says.

A 2018 survey by consulting firm Mercer and the National Association of Worksite Health Centers found that in 2017, one-third of U.S. employers with at least 5,000 employees provided worksite medical clinics, up from almost one-fourth in 2012.

A different survey — this one conducted in 2018 by the National Association of Worksite Health Centers and Benfield, a market research, strategy, and communications consulting firm that focuses on the healthcare industry — showed that among large employers with some sort of medical arrangement, 63 percent offered on-site clinics, 16 percent offered nearby clinics, and 21 percent offered a mix of the two.

"The hope with on-site or near-site clinics is to make healthcare more convenient for employees, and along the way ideally cheaper by cutting down on visits," Business Insider reported in 2018. "Crossover says it can save as much as $970 per member compared to what employers would be paying if that employee went through the traditional healthcare system. That savings can add up for a company with thousands of employees."

Crossover Health already has brought its brand of healthcare delivery to Austin and San Antonio. Now that the company has planted its flag in the Houston market, it's eyeing its first location in Dallas-Fort Worth.

"Texas, which has consistently ranked as the top U.S. state for business and job growth, is one of our most important markets as we continue to expand our national footprint," Dr. Scott Shreeve, co-founder and CEO of Crossover Health, says in a release. "The new Spring center allows us to introduce our new model of primary care to an increasing number of corporations moving to the Lone Star State."


features four rooms for primary care, and two each for physical therapy, acupuncture, and health coaching.Courtesy of Crossover Health

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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.