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All Investment Summaries
Samaritan

Samaritan is a digital SDOH platform that provides people without a home the social and financial support needed to reach health and housing goals.

Region: America

Sector: Health

Instagram: @cityofsamaritans

Twitter: @youaresamaritan

Facebook: Samaritan

www.samaritan.city

The Challenge

The social determinants of health (SDOH) are the non-medical factors, like food and housing, that influence health outcomes. While the unhoused population continues to increase year after year (>580K experiencing homelessness in 2020) and disproportionately affects BIPOC, it is also extremely challenging to reach and engage them and address their SDOH needs. As a result, they have a high rate of health care use, particularly emergency departments and inpatient visits, escalating costs and worsening outcomes.

The Innovation

Samaritan's novel technology platform engages historically difficult to reach populations; helps them set SDOH goals; and provides the capital, incentives, and social support needed to reach these goals. The platform also leverages community based organizations to onboard, set goals, needs, and action steps for this population. Samaritan is one of the first companies to facilitate cash transfers for SDOH needs and could prove a compelling model for others to follow.

Samaritan CEO and Founder Jonathan Kumar with a former customer.

Investment

Acumen’s $500K  investment will help the Company with hiring and expanding its core management team. Specifically, the funds will be utilized to hire support for the execution of multiple signed contracts in several cities throughout 2022. Additionally, Samaritan will continue to build out its engineering team in order to advance its Payer interface side of the platform.

Deal and Operational Metrics

$500,000 convertible note

1 board seat

Anticipated Milestones

+  Raise next round in 18 months
+  Deliver results on first Medicaid contract
+  Launch in one additional state with current Medicaid customers
+  $1.25 million revenue
+  35% patient engagement

Impact

Breadth

Samaritan intends to reach 1,000 lives in 2022 and ~2,000 in the next two years.

 1 Based on 2020 study of similar intervention: Evidence-Based Community Health Worker Program Addresses Unmet Social Needs and Generates Positive Return of Investment (2020).


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