WASHINGTON, Jan. 8, 2021 /PRNewswire/ — 2020 was a year without parallel. As Covid-19 pushed our health care infrastructure to its limits, economic and health disparity was laid bare. Nightingale Partners, like many impact oriented health care companies, doubled-down on its mission of providing relief and support to communities hardest hit by the pandemic and recession. Nightingale, the nation’s only health care qualified opportunity zone fund, made strategic investments in health care providers, coordinated the shipment of personal protective equipment (PPE) to partners at-cost, built health IT solutions, and formed joint ventures with leading health plans to invest in social determinants of health (SDOH) across the US and Puerto Rico.
«Over the last twelve months, we succeeded in convincing the market that investments in SDOH can generate above market rate returns and outsize savings while dramatically improving quality of care for vulnerable populations,» said John Gorman, Chairman and Founder of Nightingale Partners. «As we look forward into the new year and prepare to break ground on many of these projects, we’re encouraged by the rapid growth in interest for health equity deals, ending the year with over 40 projects underway. With Biden elected and the US Senate back in his party’s hands, we’re truly entering a golden age of health equity.»
SDOH are economic and social factors that influence individual and group differences in health status. A wealth of evidence compiled over the last 10 years indicates that SDOH accounts for greater than 60% of patient expenditures. Disparities in health outcomes have only been further exacerbated by the COVID-19 pandemic.
Nightingale began 2020 with the mission of leveraging the recently introduced Opportunity Zones (OZ) legislation to direct funding toward non-medical health care services in disadvantaged communities throughout the United States.
The Opportunity Zone program, the only bi-partisan legislation in the 2017 Tax and Jobs Act, has amassed nearly $85 billion in direct investment. The program layers tax incentives over real estate and business investments to encourage economic growth in low-income communities in the United States. Nightingale’s Sr. Advisor for Investor Relations, Matthew McGuire, said «The Opportunity Zone program, is a useful vehicle for encouraging large-scale investments into low-income communities. We look forward to working with the new administration on making the OZ program even more impactful for underserved communities, and we believe that encouraging investments into operating businesses in addition to stand-alone real estate is a crucial way to do that.»
About Nightingale Partners LLC: Nightingale is a Qualified Opportunity Zone Fund and advisory firm connecting capital to payers and providers of care to the medically underserved, based in Washington, DC. Nightingale’s mission is to improve the quality of care and reduce unnecessary health care expenditures for the nation’s most vulnerable patients through advanced technology, locally-curated social services providers, and innovative financing to address Social Determinants of Health (SDOH).
Contact: Gabriel Hitchcock, email@example.com
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SOURCE Nightingale Partners LLC