Business
This doctor raised $130 million from Michael Dell, Jim Breyer and others to try to fix health care
Dr. Clay Johnston, co-founder and chief medical officer of Harbor Health.
Courtesy of Harbor Health
A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.
When tech founder Michael Dell and his wife Susan founded their namesake medical school at the University of Texas at Austin, their mission was to promote value-based health care, a model that rewards providers for better patient outcomes.
Dr. Clay Johnston, the first dean of Dell Medical School, later learned the hard part wasn’t improving treatment outcomes and at a lower cost, he told CNBC. The sticking point was getting insurance providers to pay for it, he said.
So in 2021, he left the medical school with Dell’s blessing to launch clinic startup Harbor Health. The company, based in Austin, Texas, is a “pay-vider” that offers its own insurance plans and owns and operates 43 primary care and specialty care clinics in four metro hubs in Texas.
Dell’s family office, DFO Management, has backed Harbor since its inception.
“Michael was excited about what we had built at the medical school, and he understood the limitations of that,” said Johnston, who serves as Harbor Health’s chief medical officer.
In September, Harbor raised $130 million from DFO alongside Jim Breyer’s namesake venture capital firm, family office Martin Ventures and others to expand its chain of primary care clinics in Texas and expand its insurance business. Harbor has raised $258 million since launching in 2022.
Owning clinics and the insurance company requires a massive war chest, but it’s necessary, said Johnston, a neurologist and epidemiologist.
“The reason we do that is so that we have full control of the dollars, so that we can take responsibility for people’s health and use those dollars for whatever makes sense for people to have better health outcomes,” he explained. “We can push technologies, and we don’t have to be focused on on visits.”
Johnston also knew Breyer and Charlie Martin, principal of Martin Ventures, from his work at Dell Medical School. Both have been backers since Harbor’s early days.
Martin, a serial CEO of hospital operators, backs firms focused on improving patient outcomes and healthcare costs. Breyer was drawn to the applications of artificial intelligence in healthcare at the medical school and at Harbor, Johnston said.
“He just brings people together, and he has wonderful insights, particularly about technology and how it’s going to evolve,” Johnston said of Breyer.
Harbor analyzes medical data to predict patient care costs and whether a patient is at high risk of developing a specific condition, requiring a surgery or needing hospitalization. This AI analysis enables Harbor to provide more care to patients before their condition worsens, according to Johnston.
While family office deal-making has declined markedly in 2025, healthcare is one of the few sectors still garnering interest. A recent family office survey by Goldman Sachs found that 28% of family offices planned to be overweight healthcare over the next 12 months and only 10% intended to be underweight, the best metrics of any sector other than technology.
Johnston said the capital-intensive nature of health care can be “hard to stomach” for some investors, but he said his experience with raising donations for the medical school bears many similarities to selling investors on the vision for Harbor Health.
“The people you’re selling to on the venture side are mostly looking at the financial likelihood of return. It’s nice to have an ambitious vision that’s potentially more disruptive and has the potential to to yield financial rewards, but it stops there,” he said. “The execution piece becomes more important.”
UK interest rates are widely expected to be kept at 4% but policymakers are “deeply divided” about the threat of inflation, economists say.
The Bank’s Monetary Policy Committee (MPC) will make its next decision on interest rates on Thursday.
Many economists expect borrowing costs to be kept on hold following signs that inflation is continuing to cool, and as the Bank awaits measures announced in November’s autumn Budget.
However, some experts, including banking giants Barclays and Goldman Sachs, are predicting a cut to 3.75%.
This is because they think policymakers might be swayed by recent economic data which signals a need to reduce borrowing costs further.
Most economists agree that there will be divisions among the nine-person committee when it comes to this week’s vote.
James Smith, a UK developed market economist for ING, said: “Inflation has almost certainly peaked.
“Food inflation – a critical concern at the Bank of England this summer – fell back in September and is now running half a percentage point below official forecasts.
“This all comes at a time when the Bank is visibly divided on how problematic inflation really is.”
Official figures showed that UK Consumer Prices Index (CPI) inflation stayed at 3.8% in September, the same level as both July and August, with food prices easing during the month.
The headline figure came in below the 4% that many economists had been expecting.
But Mr Smith said that, while the MPC was “deeply divided”, it will likely remain cautious about the risk of inflation being persistent and opt to keep rates on hold this month.
He also said the Bank was crucially waiting on the outcome of the Budget on November 26, adding: “While the contours of the Budget are becoming clearer, the Bank’s rules mean it can’t act on Government policy until it’s official.”
He added that an interest rate cut in December was now “becoming more likely” in response to potential tax-raising measures.
On the other hand, Jack Meaning, chief UK economist at Barclays, predicted that the recent inflation data would be enough to tip policymakers towards cutting rates on Thursday.
Coupled with data pointing to slowing wage growth among UK workers, he said this would be likely to give the committee more confidence that inflation was set to ease.
It comes after economists at US investment bank Goldman Sachs also predicted that recent figures would be enough to convince the Bank to cut rates to 3.75%.
This marks a shift in sentiment after many experts were ruling out a rate cut in November and said borrowing costs may not be reduced until 2026, coming as a setback to millions of mortgage holders still expected to refinance on to higher rates.
Mumbai: A State Bank of India research report has called for a long-term national gold policy that defines gold’s role, as money or as a commodity, and aligns it with broader financial reforms. The report said such a framework should link to India’s plans for capital account convertibility and encourage investment through the monetisation of idle gold. It added that the policy must harmonise how gold is treated in national income accounts, the balance of payments, and capital account to eliminate inconsistencies in accounting practices.According to SBI’s economic research department, high domestic demand for gold and India’s heavy import dependence with imports accounting for around 86% of total supply has created persistent pressure on the current account deficit. The increase in international price of gold is closely tied to rupee depreciation with the rupee coming under pressure every time gold prices rise because of heavy imports. The Govt also faces a fiscal loss of about Rs 93,284 crore on outstanding sovereign gold bonds, following a sharp rise in gold prices. These challenges are worsened by the lack of a comprehensive long-term policy to integrate gold’s treatment across accounting frameworks.To reduce smuggling and deepen the formal market, earlier reports proposed liberalizing gold and silver imports, including easing rules for NRIs. They also suggested introducing forward trading to allow price hedging.
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Lenskart IPO Allotment Today: Lenskart Solutions IPO saw strong demand with 28.27x subscription.
Lenskart IPO Allotment Today
Lenskart IPO GMP Today, Lenskart IPO Allotment Today: The allotment of eyewear retailer Lenskart Solutions’ initial public offering (IPO) is likely to be concluded today, November 06, 2025. The issue received a strong demand with a 28.27x subscription in the three-day window, garnering bids for 2,81,93,62,630 shares as against the 9,97,42,748 shares on offer.
Shares of Lenskart Solutions are expected to be listed on the BSE (Bombay Stock Exchange) and NSE (National Stock Exchange) on Monday, November 10.
Its retail category has received a 7.56x subscription, while the NII (non-institutional investor) quota has received a 18.23x subscription. The QIB category received a 40.36x subscription.
The IPO was opened on October 31 and closed on November 4.
The company has fixed the price band at Rs 382-402 per share for its IPO. At the upper end of the price band, Lenskart is seeking a valuation of around $7.91 billion (about Rs 72,700 crore).
The issue includes a fresh issue of shares worth Rs 2,150 crore, while the offer-for-sale (OFS) segment will see promoters and investors offloading more than 12.75 crore equity shares.
Investors who have applied for the IPO are advised to check the following links intermittently, as there’s no specific time when the allotment is likely to be concluded today.
Lenskart IPO Listing Price Prediction, GMP Today
According to market observers, unlisted shares of Lenskart Solutions Ltd are currently trading at Rs 447 apiece in the grey market, which is a 11.19% premium or GMP of Rs 45 over the upper IPO price of Rs 402, indicating decent listing gains for investors.
The GMP of Lenskart Solutions has been on the see-saw in the past few days, especially during the subscription window.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Lenskart IPO: How To Check Allotment Status
Step-by-Step: How to Check Lenskart IPO Allotment Status
Option 1: Via Registrar’s Website (Link Intime India)
- Visit the Link Intime India IPO allotment page:https://www.linkintime.co.in/IPO/public-issues.html
- Select “Lenskart Solutions Limited – IPO” from the drop-down list.
- Choose one of the three identification options:
- PAN (Permanent Account Number)
- Application Number
- DP/Client ID (for demat account holders)
- Enter the chosen details correctly.
- Fill in the captcha code as shown on the screen.
- Click on “Submit” or “Search.”
- The screen will display your allotment status — showing whether you’ve been allotted shares and the quantity.
Option 2: Via BSE Website
- Visit the BSE IPO allotment page:https://www.bseindia.com/investors/appli_check.aspx
- Under “Issue Type,” select “Equity.”
- Under “Issue Name,” choose “Lenskart Solutions Limited.”
- Enter your Application Number and PAN.
- Complete the security captcha.
- Click on “Search.”
- Your allotment status will appear on the screen.
Option 3: Through Your Broker or Demat App
- Log in to your broker app (like Zerodha, Groww, Upstox, or Angel One).
- Go to the IPO section → “My Applications.”
- You’ll see the allotment status once it’s updated by the registrar.
About Lenskart
Founded in 2010, Lenskart began as an online eyewear retailer and has since grown into one of India’s leading omnichannel eyewear brands with both online and offline presence. The company was valued at $6.1 billion as of September 2025, according to Tracxn data cited by Reuters.
In June 2025, the company transitioned into a public limited entity, changing its name from Lenskart Solutions Private Limited to Lenskart Solutions Limited after an extraordinary general meeting held on May 30.
Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
November 06, 2025, 06:52 IST
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