Illinois governor’s family firm owns stake in companies involved in coronavirus testing

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Republicans in Illinois are crying foul that Gov. J.B. Pritzker could be financially benefiting from the coronavirus pandemic following reports that his family’s investment firm has a stake in two companies doing tests for the contagion.

Illinois GOP Chairman Tim Schneider said in a statement to Fox News that the Pritzker Group – the family firm run by the governor’s brothers – “controls the companies that are making millions off the pandemic” and called on the Illinois Democrat to divest any interest he had with the firm.

“Let’s be clear – Governor Pritzker and his family are clearly profiting off the COVID-19 crisis, and it’s appalling,” Schneider said. “The Pritzker Group controls the companies that are making millions off the pandemic, and the Governor stands to make huge profits.”

The two companies in question are PathGroup, an anatomic, clinical and molecular pathology company that Pritzker’s private capital firm invested in, and Cue Health, a health care technology company that received funding from Pritzker’s venture capital firm. Both companies have recently announced either the development of tests or plans to develop tests to detect COVID-19. This comes as Pritzker’s administration pushes to expand testing as part of the state’s phased reopening plan.

While neither company has received a contract to conduct testing from the state of Illinois, Cue Health in late March was awarded a $13 million contract by the federal government to develop a test for the novel coronavirus.

Pritzker’s office did not return Fox News’ request for comment, but the governor in the past has argued that he put all his financial assets in a blind trust when he took office. Pritzker comes from a prominent business and philanthropic family that, among other things, owns the Hyatt hotel chain. His personal fortune is valued at around $3.4 billion. – READ MORE

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