Crucial mental and behavioral healthcare access for teens and young adults emphasized under new partnership
Chicago, IL, June 28, 2022 — The Vistria Group today announced a new investment in Sandstone Care, an adolescent and young adult mental and behavioral health treatment provider. The eighth investment from The Vistria Group’s Fund IV will allow Sandstone Care to reach more young people who need treatment but face a shortage of high-quality options. The investment furthers The Vistria Group’s impact goals by expanding access to much-needed services for adolescents and young adults.
“There is not enough access to high-quality treatment for kids, and the pandemic only exacerbated those challenges,” said Amy Christensen, Partner and Co-Head of Healthcare at The Vistria Group. “Sandstone’s model is consistent with the evidence-based, cost-effective treatment model we have been looking for since building our thesis in the space more than a year ago. We love that they provide a continuum of care to address the unique needs of adolescents and young adults wherever they are on their individual journey.”
Founded in 2015 and headquartered in Denver, Co., Sandstone Care is a leading provider of high-quality care for young people with a variety of behavioral and mental health conditions including depression, anxiety, suicidal tendencies, substance use disorder, or any set of co-occurring conditions. The company provides age-specific treatment for teens and young adults aged 13 to 30, with treatment focusing on the full continuum of care in the least restrictive setting. Services are currently available in Colorado, Illinois, the Washington, D.C., area, Virginia and Maryland with plans to expand existing campuses and grow into new ones. Sandstone is predominately in-network with health insurance, making the availability of care more widespread for families stuck in the mental health services gap of high demand and low supply.
“Sandstone Care is excited to partner with The Vistria Group to effect change for the mental health of adolescents and young adults precisely at a time when it has never been more needed,” Sandstone Care CEO Michael Hunter said. “It’s through these kinds of synergistic partnerships, where aligned values meet necessary community interventions, that real change is realized in the world.”
The Vistria Group’s investment aligns with its broader impact goals in the behavioral health space. Alongside its commitment of $250 million, in partnership with the U.S. Surgeon General’s Office toward youth mental health, The Vistria Group is achieving its goal of combining profit with purpose. Surgeon General Dr. Vivek Murthy in early June 2022 joined mental health advocates across the country in launching a comprehensive, national initiative addressing mental health for young people. The Vistria Group’s capital helps expand those care opportunities for young people who need them.
About Sandstone Care
Headquartered in Denver, CO, Sandstone Care is a leading provider of high-quality care for young people with a variety of behavioral and mental health conditions including depression, anxiety, suicidal tendencies, substance use disorder, or any set of co-occurring conditions. The company provides age-specific treatment services for teens and young adults aged 13 to 30, with treatment focusing on the full continuum of care in the least restrictive setting. Sandstone Care has facilities in Colorado, Illinois, the Washington, D.C. area, Virginia, and Maryland. For more information, please visit sandstonecare.com.
About The Vistria Group
The Vistria Group is building a new kind of private investment firm that delivers both financial returns and societal impact. It invests in essential industries like healthcare, education and financial services that deliver value for investors as well as communities, employees, and consumers. The Vistria Group works as a true partner with its portfolio companies, drawing on its deep sector knowledge, operational expertise, unique network, diverse team, and impact orientation to achieve transformational growth. With nearly $7 billion in AUM, The Vistria Group has delivered attractive returns for its investors while achieving positive outcomes for its portfolio companies, and the lives and livelihoods it supports.