FROM YAHOO FINANCE
Marathon Health, one of the nation's leading providers of worksite health centers, today announced that Goldman Sachscompleted a $30 million equity investment and minority position in the company. Marathon Health will use proceeds from the investment to meet the ever-changing healthcare needs of its customers and expand its national presence, continuing the rapid growth it has experienced since its founding in 2005.
The investment highlights Marathon Health's leadership in developing the worksite health center market and demonstrated impact in creating healthier and more productive employees. Marathon Health's health risk management model of care has delivered a 10-15 percent reduction in net per member per month healthcare costs across its book of business, contributing to the growth and profitability of the businesses it serves. The company provides care for more than 250,000 individuals at over 140 employer locations nationwide.
"Employer organizations, including corporations, government entities, unions, health systems, and school districts alike are challenged to solve healthcare access, cost, and quality challenges. Building on the vision of our founders, Richard Tarrant and Robert Hoehl, to deliver the right care at the right place by the right provider, we have answered this challenge to change the way healthcare is experienced and delivered," said Jerry Ford, CEO of Marathon Health. "This investment bolsters Marathon Health's commitment to our people, who we call Ambassadors, and the partnerships formed with our customer base."
"It was clear in our review that Marathon Health delivers great value to its customers," said Antoine Munfa, Vice President in Goldman Sachs' Private Capital Investing group. "We are impressed with the company's integrated health coaching and clinical care methodology, healthcare cost and outcomes analytics, and total population health management approach."
Marathon Health also announced the appointment of Antoine Munfa and Marathon Health Chief Financial Officer Scott LaPlant to its Board of Directors.
About Goldman Sachs Private Capital Investing:
Private Capital Investing ("PCI") is Goldman Sachs' investment platform dedicated to providing junior capital to growth and middle market companies throughout North America. PCI invests $20 million - $150 million per transaction in the form of common, preferred, and structured equity. Contact: firstname.lastname@example.org