General Atlantic has acquired a majority of Marathon Health. Financial terms weren’t announced. Goldman Sachs’ private capital investing division is exiting its investment. Marathon provides employer health centers. Goldman invested $30 million in Marathon in 2016.
Marathon Health and General Atlantic Announce Strategic Partnership
Investment from leading global growth investor to fund Marathon Health’s growth into comprehensive platform of patient-centric population health management solutions
Winooski, VT AND New York, NY – October 8, 2019 – Marathon Health (“Marathon,” or the “Company”), a leading provider of employer health centers, and General Atlantic, a leading global growth equity firm, today announced a strategic partnership that will position Marathon to further scale its operations and footprint to serve employees, spouses, and dependents across the United States. Along with the transaction, General Atlantic became the majority owner of Marathon, while Goldman Sachs’ Private Capital Investing Division has exited its approximately three-year partnership with the Company.
Marathon focuses on providing access to high-quality, convenient healthcare services for employees, toward the goal of improving long-term health outcomes, while decreasing employers’ total cost of care and employees’ out-of-pocket healthcare expenses. With its footprint of onsite and nearsite health and wellness centers, Marathon’s services include a full range of technology-enabled primary care, physical therapy, behavioral health, health coaching, pharmacy dispensing, and other services. Since Marathon’s founding in 2005, the Company has achieved strong organic growth and consistent new client wins, driven by industry leading patient, client, and Ambassador (Marathon employee) satisfaction scores.
Jerry Ford, CEO of Marathon Health, said: “Over the past 14 years, Marathon Health has acted as a trusted partner to patients, providers, and employers. We are appreciative of Goldman Sachs’ involvement as an investor for the past three years, and as we look ahead to our next phase of growth, we have the opportunity to expand into a broader population health platform, an area in which General Atlantic brings specific expertise. The General Atlantic team shares our vision of creating an engaged system of primary care that integrates multiple solutions to improve patient health outcomes while offering meaningful value to employers. We are thrilled to be entering this next chapter alongside General Atlantic.”
“The U.S. healthcare system is at a critical inflection point. We believe Marathon Health is well-positioned to capitalize on this shift and provide a holistic solution to employers and their employees across the country, containing employer expenditures while simultaneously improving patient health and well-being,” said Robbert Vorhoff, Managing Director and Global Head of Healthcare at General Atlantic. “We are excited to partner with Jerry and the Marathon Health team to continue scaling the company and building a comprehensive population health management platform, with Marathon’s already high-quality primary care offering as the cornerstone.”
As part of the transaction, Robbert Vorhoff and Jon Michael Reese, Vice President in General Atlantic’s Healthcare sector, will join the Board of Marathon Health. Additional terms of the deal were not disclosed.
About Marathon Health
Marathon Health offers a proven solution for helping employers reduce the total cost of healthcare. The Marathon Health approach integrates the best practices of onsite primary care, health assessment with risk identification, coaching and advocacy, and disease management for high cost chronic conditions. Founded by Richard E. Tarrant in 2005, Marathon Health supports its unique model with an eHealth Portal delivering medical content, interactive diet and fitness tools, a personal health record, and an electronic medical record to manage care. For more information, please visit www.marathon-health.com.
About General Atlantic
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to build exceptional businesses worldwide. General Atlantic has more than 150 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, and Singapore. For more information on General Atlantic, please visit the website: www.generalatlantic.com.