Mindoula Announces Strategic Investment from Equality Asset Management

Published in Press Releases, July 28, 2020

Silver Spring, Maryland -- Mindoula, a leading population health management company focused on transforming behavioral healthcare in the U.S., today announces it has secured a strategic investment from Boston-based growth equity firm, Equality Asset Management.

Mindoula’s technology-enabled platform identifies, engages and serves patients with complex behavioral health, medical and social challenges across the complete continuum of care. The company specializes in populations with behavioral health challenges and comorbid medical conditions, specialty populations such as victims of interpersonal violence, as well as those who benefit from behavioral treatment in a primary care setting or within their communities.

“As we continue to execute on our mission to transform behavioral healthcare, we are excited to bring on a partner who shares our vision," says Mindoula Founder and CEO Steve Sidel. “We are impressed by the deep investment experience, healthcare expertise, and collaborative approach of Tom Roberts, Ned Schwartz, and the entire Equality team, and we look forward to our growth together.”

Since its founding in 2013, Mindoula has rapidly grown its partnerships with health plans, health systems, primary care practices and hospitals, to improve population health, enhance patient care, and reduce the total cost of healthcare in pre-acute, post-acute and acute settings, as well as in transitions of care.

“Mindoula’s accelerating growth is a testament to the company's mission-driven and passionate management team, its best-in-class technology platform and around-the-clock synchronous support model,” says Tom Roberts, Founder and CEO of Equality Asset Management. “We look forward to actively partnering with Mindoula to support its continued rapid growth and its mission to address behavioral health challenges for patients in significant need across the continuum of care.”

Ned Schwartz, Managing Director of Equality, adds: “Mindoula is solving systemic problems related to behavioral healthcare access, the lack of integration of behavioral health in the primary care setting, and the increasing scarcity of resources available to effectively address social determinants of health. Our partnership with Mindoula represents a highly thematic investment for Equality, and we are very excited to support its continued national expansion. Mindoula's technology-oriented approach to improving behavioral health outcomes for complex patient populations is highly differentiated."

Zeigler acted as the exclusive financial advisor to Mindoula for the transaction. Cooley LLP acted as legal advisor to Mindoula. Ropes and Gray LLP acted as legal advisor to Equality. Existing institutional investors, AXA Venture Partners and Morgan Noble Healthcare Partners, also participated. Terms of the transaction were not disclosed.

About Mindoula
Mindoula is a leading population health management company that scales the human connection through technology to address mind, body, and life challenges. Mindoula identifies, engages, and serves populations that might otherwise be overlooked or left behind, and delivers tech-enabled, team-based, 24/7 support across the continuum of care. Mindoula's adaptive data science approach, multi-platform technology stack, virtual Collaborative Care Program, and virtual + in-person care extension solutions enable its enterprise partners to achieve improved outcomes and significantly reduce costs by integrating behavioral, medical, and social determinants of health. Headquartered in Silver Spring, Maryland, Mindoula currently operates in Maryland, Virginia, the District of Columbia, Nevada, Louisiana, New Jersey, Michigan, Florida, Texas, Georgia, Pennsylvania, Mississippi, and California with national expansion plans to meet the growing need for integrated whole person care. For more information, please visit www.mindoula.com.

About Equality
Equality Asset Management is a growth-focused private equity firm with a mission to help build exceptional companies. Equality provides equity capital and strategic and operating support to companies with long-term growth potential in technology and tech-enabled healthcare. Equality typically invests $25 million to $150 million of capital per company for growth equity or to support shareholder recapitalizations. The firm is based in Boston. For more information, please visit www.equalityassetmanagement.com.

Media Contacts

Aileen Kantor (Aileen.Kantor@mindoula.com) - 301.537.8996

Equality Asset Management
Beatrice Broderick (bbroderick@prosek.com) - 857.301.6949
Tara Ciongoli (tciongoli@equalityam.com) - 617.290.2510