CuraLinc Healthcare Secures Strategic Investment to Expand Mental Health Services
CuraLinc Healthcare, a leading provider of workforce mental health and employee assistance programs (EAP), has secured a strategic investment from Lightyear Capital, a New York-based private equity firm. This partnership aims to fuel CuraLinc’s growth and innovation in the mental health care sector. CuraLinc, which serves around 9 million employees and students globally, offers a range of mental health services including counseling, crisis support, and digital cognitive behavioral therapy (dCBT). Lightyear Capital’s expertise in healthcare and employee benefits positions them to support CuraLinc in expanding its impact in addressing critical mental health challenges.
CHICAGO-Lightyear Capital LLC (“Lightyear”), a New York-based private equity firm, has completed a strategic investment in CuraLinc Healthcare (“CuraLinc” or the “Company”). CuraLinc is an innovative provider of employee assistance (EAP), student and workforce mental health programs, including personalized solutions that engage, empower, and support employees, members, and students throughout their mental health care journey.
Founded in 2008, CuraLinc is a leader in workforce mental health benefits, covering approximately 9 million employees and students across more than 4,200 clients around the world, including numerous Fortune 500 employers. The Company offers a comprehensive suite of employee benefit services including mental health counseling and coaching, crisis support, text therapy, digital group therapy, management consultation, mental health navigation and advocacy, student assistance programs, and digital cognitive behavioral therapy (dCBT).
“We are excited to partner with the entire CuraLinc team,” said Mark Vassallo, Managing Partner at Lightyear. “The CuraLinc investment continues Lightyear’s long history and experience in healthcare, employee benefits and insurance distribution, including our successful exits of Therapy Brands, Alegeus and Datalot. We look forward to supporting CuraLinc’s leadership in this next phase of growth.”
“In Lightyear, we found a partner who aligns with our values and champions founder-led businesses,” said Sean Fogarty, Founder and President of CuraLinc. “We believe we will benefit from Lightyear’s deep domain expertise in employee benefits and mental health care, expansive operating network, and strong reputation as a preferred partner to management teams. With this new capital and collaboration, we will drive continued growth and innovation to better serve our customers.”
Michael Langer, Managing Director at Lightyear, said, “Access to care and treatment for mental health issues remains out of reach for most of the U.S. population even though approximately one in four adults experiences mental illness each year. The average wait time for behavioral health counseling is six weeks, and nearly 50% of those suffering from a mental illness do not seek treatment. We believe the value proposition that CuraLinc offers helps to address some of the most critical issues in healthcare today.”
Michal Petrzela, Managing Director at Lightyear, added, “CuraLinc has established itself as a differentiated, best-in-class workforce mental health and EAP company. We are excited to leverage our experience and operating network in employee benefits and distribution and mental health to capitalize on a growing market opportunity.”
Davis Polk & Wardwell, LLP served as legal counsel, and Houlihan Lokey served as financial advisor to Lightyear. Locke Lord LLP served as legal counsel, and The Chicago Corporation served as financial advisor to CuraLinc. Terms of the transaction were not disclosed.
About CuraLinc Healthcare
CuraLinc Healthcare provides transformative mental health care fueled by connectivity – marrying technology and personalized advocacy to support employees, families and students through programs that have a measurable impact on their health, wellbeing and productivity. For more information, please visit curalinc.com.
About Lightyear Capital
Lightyear Capital is a New York-based private equity firm that partners with growing companies at the nexus of financial services and technology, healthcare, and business services. For over 20 years, Lightyear has worked closely with management and leveraged its industry expertise, network of advisors, and operating resources to accelerate growth and build market leading businesses. As of December 31, 2023, the firm had assets under management of $5.0 billion. For more information, please visit http://www.lycap.com.
