Marathon Health Secures Investment from General Atlantic as Goldman Sachs Exits

VCBeat (WeChat ID: vcbeat) learned from foreign media that on October 9, 2019, Marathon Health, a U.S. healthcare solutions provider, announced it had secured investment from General Atlantic, a global growth equity firm. The financial terms of the transaction were not disclosed.

The proceeds from this round of financing will be used to further expand Marathon Health’s business scale and coverage, serving employees and their spouses and dependents across the United States.

As the transaction proceeds, General Atlantic will become the majority shareholder of Marathon Health. Meanwhile, Goldman Sachs Private Capital Investing has exited its approximately three-year partnership with the company. In July 2016, Marathon Health secured a $30 million financing round backed by Goldman Sachs.

Marathon Health was founded by Richard E. Tarrant in 2005 and is headquartered in Vermont, United States. The company is currently led by CEO Jerry Ford. It is dedicated to reducing employers’ total cost of care and employees’ out-of-pocket expenses while providing medical services to employees. Its offerings include technology-enabled primary care, physical therapy, behavioral health, health coaching, pharmacy dispensing, and other services.

Marathon Health’s primary business is to provide clients with medical content, interactive diet and fitness tools, personal health records, and electronic medical records.

Jerry Ford, CEO of Marathon Health, stated, “Over the past 14 years, Marathon Health has been a trusted partner to patients, healthcare providers, and employers. We thank Goldman Sachs for its support as an investor over the past three years. As we look toward the next phase of growth, we have the opportunity to expand into a broader population health platform. Our vision for this next stage is to create an engaged primary care system that integrates multiple solutions to improve patient health outcomes while delivering greater value to employers. We are excited to embark on the company’s next chapter together with General Atlantic.”

Robbert Vorhoff, CEO of General Atlantic, stated, “The U.S. healthcare system is at a critical inflection point. We believe Marathon Health is well-positioned to capitalize on this shift, delivering holistic solutions to employers and their employees worldwide that improve patient health outcomes while controlling employer costs.”

General Atlantic, founded in 1980 and headquartered in New York, USA, is a leading global growth equity firm that primarily provides capital and strategic support to growing companies.

(Compiled by He Li)