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Cohero Health Secures $2M Seed Investment

Creator of innovative respiratory disease management platform closes seed round, led by Blue Cross Blue Shield of Massachusetts’ Zaffre Investments.


December 15, 2015

Cohero Health, a digital health company focused on developing connected health tools and technologies to empower respiratory patients and improve care through smart mobile devices, has announced that they closed a seed investment round of 2 million dollars. Key investors include Zaffre Investments, the investment arm of Blue Cross Blue Shield of Massachusetts, Three Leaf Ventures an affiliate of the Broe Group, Bioadvance and Swanhill Capital. StartUp Health, of which Cohero Health is a member, also participated via their digital health syndicate on AngelList.

Cohero Health’s connected devices and mobile applications actively engage and empower respiratory patients by measuring lung function and tracking adherence. The company’s proprietary platform comprises wireless medication inhaler sensors to track patient adherence, an FDA cleared mobile spirometer to measure lung function, mobile applications to engage patients, generate custom reminders and reward compliance, and access to custom data via HIPAA-compliant servers to support robust patient monitoring.

Cohero Health is the first and only company to enable tracking of controller medication, rescue medication and discern lung function in real-time, in an integrated comprehensive model. The company is poised to transform care of asthma and COPD patients through improved selfmanagement, and by empowering clinicians with critical components of optimal respiratory care, knowing how patients are using their medication and how they are responding.

Cohero Health has successfully deployed its platform at Mount Sinai Health System and Dartmouth-Hitchcock Medical Center, and plans to announce more partnerships before year’s end. Early results have shown a 2.5 times increase in medication adherence over standard of care, and 100% reduction in hospitalizations. “We are committed to building a platform that is dedicated to the key challenges faced by the respiratory community,” said Melissa Manice, PhD, Co-Founder. “Cohero Health connects patients to care providers in an unprecedented way, allowing for the many stakeholders in the respiratory community to benefit from a tool that addresses proactive treatment compliance and mobile lung function monitoring. The funds raised and depth of expertise of our strategic investors allow us to ramp up manufacturing and bring us to full commercial readiness to meet current customer demand.” “We are dedicated to advancing health care companies that help people become more informed and engaged in their health and wellbeing,” said Steve Agular, Managing Director at Zaffre Investments. “This partnership is an exciting opportunity, as the Cohero Health platform has proven to show a real benefit to consumers dealing with respiratory issues and has led to improved health outcomes.” The company plans to use the funding to scale production of its devices to support large customer deployments, and the full-scale commercial launch of its platform.

About Cohero Health, LLC

Cohero Health is a digital health company developing innovative tools and technologies to improve respiratory care, reduce avoidable costs and optimize medication use. The company’s connected devices and mobile applications actively engage and empower respiratory patients by measuring lung function and tracking adherence. Based in New York, the company is a member of StartUp Health, Springboard Enterprises, and Grand Central Tech.

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Keith Lovetro Named to OmniTRAX Board

DENVER – OmniTRAX, Inc., one of the largest privately held rail and transportation service companies in North America and an affiliate of The Broe Group, elected Keith Lovetro to its Board of Directors. Lovetro currently serves as President and Chief Executive Officer of TRAC Intermodal, the largest intermodal chassis pool manager and equipment provider for international and domestic shippers in North America. He replaces John Giles on the six-person board effective today.

“We are fortunate to have such a skilled and connected leader as Keith join our board. His more than 34 years of management experience, including time with regional trucking, ground parcel, air express and air freight firms, will help guide all of our businesses,” said Brad Skinner, Chairman of OmniTRAX.

Lovetro has served as President and CEO of TRAC Intermodal since June 2011, growing revenue by 23+ % (CAGR) since joining the company. Prior to Trac Intermodal, he was President and Chief Executive Officer of YRC Regional Transportation, responsible for the P&L performance of USF Reddaway, USF Holland and New Penn Motor Express which had annual revenues of more than $2.0 billion and more than 14,000 employees. He previously held executive positions at DHL Express and FedEx Freight West, and started his career at Emery Worldwide/CF Airfreight.

Lovetro holds a Bachelor of Arts degree from University of California, Davis, and a Master of Business Administration degree from University of Santa Clara. He serves on the Board of Directors of Interpool (parent company of TRAC Intermodal), the Institute of International Container Lessors and the Intermodal Association of North America, and is a member of the American Trucking Association and the Council of Supply Chain Management Professionals.

Note to Editors: A photo of Keith Lovetro is available.

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The Broe Group and CPPIB Lead Acquisition of DJ Basin Oil & Gas Assets from Encana in $900 million Transaction

Denver – The Broe Group and Canada Pension Plan Investment Board (“CPPIB”) announced that a new affiliate owned by the two companies has signed an agreement with Encana Corporation to buy all of Encana Oil & Gas (USA) Inc.’s oil and gas assets in the DJ Basin in northern Colorado. The $900 million transaction, which is subject to regulatory approvals and closing conditions, is expected to close during the fourth quarter of 2015.


“At nearly $1 billion in total value, this is a milestone transaction for The Broe Group and represents the kind of investment we are actively seeking,” said Claude Pumilia, COO & CFO of The Broe Group. “We are pleased to be partners with CPPIB to acquire an asset with significant proved reserves, strong production, and attractive well performance and returns. The combination of the management expertise of The Broe Group with the financial strength of CPPIB will drive the success of this new venture.”


Located in northeast Colorado, Encana’s DJ Basin assets include more than 1,600 wells and 51,000 net acres. During the first half of 2015, the assets produced an average of 52 million cubic feet per day of natural gas and 14,800 barrels per day of crude oil and natural gas liquids.


“The DJ Basin is one of the leading oil and natural gas plays in North America and Encana’s assets and operations have long been regarded as top-tier by industry standards,” said Avik Dey, Managing Director, Head of Natural Resources, CPPIB. “This investment offers attractive economics and aligns well with our strategy for the energy sector. We look forward to working with our partner to create value and grow the business.”



Upon closing, the new enterprise will operate as a standalone, independent business governed by its own board of directors. The management team is currently being assembled by The Broe Group and is expected to be in place before the end of the year.


The Broe Group was advised by Credit Suisse and Vinson & Elkins.


About The Broe Group

The Broe Group, based in Denver, Colorado, is a diversified privately-owned enterprise with a multi-billion asset base.  The Broe Group and its affiliates employ more than 1,000 people directly and provide employment for countless others through its Great Western Industrial Park in Northern Colorado. The Broe Group and its affiliates own and/or manage commercial real estate and other businesses across North America. Its transportation affiliate, OmniTRAX, Inc., is a leading transportation services firm with railroad, port and terminal operations, and is the 2nd largest operator of short-line railroads in the U.S. Its energy affiliate, Great Western Oil & Gas Company, is a top 10 driller in Colorado and among the top 100 drillers in the U.S. The Broe Group has multiple other investment affiliates, including Three Leaf Ventures, which is focused on innovative healthcare technology start-ups. For more information, see

About Canada Pension Plan Investment Board

Canada Pension Plan Investment Board (CPPIB) is a professional investment management organization that invests the funds not needed by the Canada Pension Plan (CPP) to pay current benefits on behalf of 18 million contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, CPPIB invests in public equities, private equities, real estate, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, New York City and São Paulo, CPPIB is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. At June 30, 2015 the CPP Fund totaled C$268.6 billion. For more information about CPPIB, please visit


About Encana Corporation

Encana is a leading North American energy producer that is focused on developing its strong portfolio of resource plays, held directly and indirectly through its subsidiaries, producing natural gas, oil and natural gas liquids. By partnering with employees, community organizations and other businesses, Encana contributes to the strength and sustainability of the communities where it operates. Encana common shares trade on the Toronto and New York stock exchanges under the symbol ECA.


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Pat Broe: ‘Tough negotiating is part of the strategy’

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