Landmark Health Announces Strategic Investment from General Atlantic
March 28, 2018
Landmark Health (“Landmark” or the “Company”), a leading provider of in-home, risk-based medical care, is pleased to announce that General Atlantic, a leading global growth equity firm, has made a strategic investment in the Company.
Landmark is a leading risk-based provider group that delivers home-based medical care for chronically ill patients. Landmark’s physicians, nurse practitioners, and physician assistants are available for urgent care 24/7 and are supported by a field-based interdisciplinary team of behavioral health providers, palliative specialists, pharmacists, social workers, dietitians, and nurses. Through its risk-based model of care, Landmark benefits only through material and measurable improvement in the clinical and quality outcomes of its patients.
Founded in 2013, Landmark has rapidly grown to serve over 80,000 patients suffering from complex, chronic conditions and has a presence in California, Massachusetts, New York, Oregon, Pennsylvania, and Washington State. In its next phase of growth, Landmark plans to continue its expansion into additional markets, including Kansas, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, and Ohio.
“We are excited to welcome General Atlantic as a strategic partner,” said Adam Boehler, Founder and CEO at Landmark. “We believe Landmark is transforming how healthcare is delivered to clinically complex patients across the country. Robb and the entire team at General Atlantic share our vision to dramatically improve access to care and quality of life for these patients who need it the most.”
Robbert Vorhoff, Managing Director and Global Head of Healthcare at General Atlantic, said, “Landmark’s growth over the past few years is a testament to its seasoned management team, custom-built technology platform, and home-based provider model. We look forward to partnering with the Landmark team to support the Company’s continued rapid growth and its mission to deliver better healthcare to chronically ill patients.”
Ezra Perlman, Co-President of Francisco Partners and a Founding Investor in Landmark, added, “It has been extremely gratifying to partner with Landmark since inception as the Company has demonstrated the power of its model and delivered on its mission of providing better care to those who need it most. We are thrilled to continue the journey with Landmark and General Atlantic.”
Landmark has earned numerous awards throughout its short history and was recently listed as one of Modern Healthcare’s Best Places to Work in 2017.
Barclays acted as the exclusive financial advisor to Landmark on the transaction. Latham & Watkins LLP and Shearman & Sterling acted as legal advisors to Landmark. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor to General Atlantic.
About Landmark Health
Landmark Health is an industry leader of home-based medical care for patients with complex health needs. Its community-based, physician-led medical teams specialize in house calls and deliver medical, behavioral, social and palliative care to individuals with multiple chronic conditions wherever they reside, and whenever they need it. Landmark’s teams of mobile clinicians collaborate with patients’ families, caregivers and other medical providers to bring coordinated healthcare to people who need it the most. For more information, visit www.landmarkhealth.org.
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 115 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, and Singapore. www.generalatlantic.com.
About Francisco Partners
Francisco Partners is a leading global private equity firm that specializes in investments in technology and technology-enabled businesses. Since its launch over 17 years ago, Francisco Partners has raised over $14 billion in committed capital and invested in more than 200 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. www.franciscopartners.com.