Vital Healthcare Capital, a New York City-based social impact lender, has announced a new $30 million fund that will support improvements in integrated care for vulnerable groups such as seniors, people with disabilities, at-risk youth, and individuals with behavioral health needs.
Established with contributions from Atlantic Philanthropies, the Ford and JPMorgan Chase foundations, MetLife, Dignity Health, and Bank of America, the fund will provide flexible loans to healthcare providers such as community clinics, mental and behavioral health providers, senior care providers, community hospitals, and special needs health plans. V-Cap loans, all of which will focus on low-income communities, will support the integration of health care that improves health and disease management as well as the development of more and better jobs for frontline healthcare workers.
The fund is expected to support between ten and twenty high-performing healthcare organizations, including a health center focused on care for the homeless, a senior care provider expanding mental health services, and a mental health organization developing respite centers for mental health crisis care.
"V-Cap is a financial partner for healthcare providers that are building better care for the most vulnerable, and better jobs for the frontline healthcare workforce," said the organization's CEO, Steven Weingarten. "Our system of care has all too often been fragmented, expensive, and dehumanizing — especially for people with complex needs. We provide flexible financing to creative provider organizations, enabling them to innovate, grow, and develop high-performing health care."