Goldman Sachs Alternatives’ Horizon Inclusive Growth fund has acquired Massachusetts-based LearnWell, which aims to fill gaps in youth mental health and behavioral health care that are driving school absenteeism and emergency room visits.
Since 1995, LearnWell has partnered with more than 7,000 school districts to deliver its services to over 51,000 K-12 students. LearnWell also partners with hospitals and treatment centers to improve students’ recovery outcomes.
“We need to provide equitable access to care and equitable access to education for everyone, whether they’re in their school setting, or whether they’ve been hospitalized,” said LearnWell’s Kathleen Egger. “There’s so many more behavioral health settings [where] kids need services across the continuity of care.”
Inclusion strategy
Goldman acquired LearnWell through the sustainable investing division of its $600 billion global alternatives investment business. The Horizon Inclusive Growth fund targets growth equity investments across healthcare, education, workforce development and financial inclusion.
“Our mission is to identify companies that are delivering significant value to their constituencies through products and services creating measurable impact for underserved populations, and to help these businesses accelerate to scale and reach even more individuals,” said Greg Shell, who joined Goldman Sachs from Bain Capital three years ago.
“The company sits at the intersection of how we think about investing across our healthcare and education verticals,” Shell told ImpactAlpha. He said the fund is looking for “high-growth companies creating greater access, affordability and better outcomes for individuals across underserved populations.”
Goldman has also invested in evolvedMD, a Scottsdale-based company that trains, hires and manages behavioral health providers in Arizona, Utah, Florida, New Mexico and Colorado. evolvedMD partners with health systems including Banner Health, HonorHealth and VillageMD to deliver care to Medicaid and Medicare patients.
Nearly two in five US high school students report persistent feelings of sadness or hopelessness, and recent national surveys find that roughly one in five adolescents has a diagnosed mental, emotional or behavioral health condition.
“When you look at the data outlining what is happening in American public schools, you cannot miss nor run away from the fact that youth mental health overall is in crisis, especially since the pandemic,” Shell said.
Source: impactalpha.com
