Ropes & Gray advised Equality Asset Management on its investment in Mindoula, a tech-driven mental health care management company based in Silver Springs, Maryland.
Mindoula says it uses a technology-enabled platform to help health plans, health systems, primary care practices, and hospitals to enhance patient mental health care and to reduce the total cost of healthcare in pre-acute, post-acute, and acute settings, as well as in transitions of care. Cooley advised Mindoula in the transaction, for which no terms were disclosed.
The company says it specializes in populations with behavioral health challenges and co-morbid medical conditions, as well as “speciality populations” including victims of interpersonal violence, and people who benefit from behavioral treatment in a primary care setting or within their communities.
Ned Schwartz, managing director at Boston-based Equality, said in a statement that “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.”
Equality says it focuses on tech and tech-enabled healthcare investments and typically invests $25 million to $150 million of capital per company for growth equity or to support shareholder recapitalizations.