US-based private equity company Lightyear Capital has completed a strategic investment in CuraLinc Healthcare, a provider of mental health care and well-being programmes.

Financial details of the investment have not been disclosed.

The latest move is aimed at bolstering the next phase of growth for CuraLinc, which specialises in offering workforce mental health benefits.

Founded in 2008, the company has become a key player in the mental health sector, supporting approximately nine million employees and students globally.

The company's reach extends to more than 4,200 clients.

CuraLinc's services are designed to engage and support individuals in their mental health journey, offering a range of programmes, including employee assistance, mental health counselling, and digital cognitive behavioural therapy.

The comprehensive suite of services provided by CuraLinc includes crisis support, group therapy, text therapy, digital and mental health navigation and advocacy.

All these programmes are tailored to meet the needs of both employees and students, ensuring accessible and effective mental health care.

CuraLinc founder and president Sean Fogarty said: “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.”

Legal counsel for the transaction was provided by Davis Polk & Wardwell to Lightyear and Locke Lord to CuraLinc. 

Financial advisory services were rendered by Houlihan Lokey and The Chicago Corporation for Lightyear and CuraLinc, respectively.

Lightyear managing director Michael Langer said: “Access to care and treatment for mental health issues remains out of reach for most of the US population even though approximately one in four adults experiences mental illness each year.

“The average wait time for behavioural health counselling 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.”