Impact

Across the country, entire communities remain underserved by the healthcare system: rural towns, urban centers, and tribal lands. These are not marginal markets. They are large and growing. Demand far outpaces supply, and private capital has long overlooked them.

Pharos invests exclusively in healthcare companies that serve these communities by expanding access, improving patient outcomes, and focus on lowering the total cost of care.

This is not a parallel "impact strategy." It is the core of our investment mandate.

Pharos impact at a glance.

5,800+

Jobs in Fund III More Than Tripled During Ownership.

$450M+

Invested Into Rural Markets.

7,000+

Employees in Pharos Fund III & IV.

$800M+

Invested toward improving healthcare in underserved communities

All50

States reached by portfolio companies

78%

Female Employees

All figures represent data across Pharos portfolio companies.

Impact is the thesis, not the byproduct.

Underserved communities have the widest gap between current care and what is possible. That gap is the opportunity. Pharos is dedicated to reducing healthcare disparities, most of which are caused by geography, socioeconomic status, or provider shortages. Our mission drives job creation, economic growth, and productivity. By improving behavioral health, we help reduce crime and violence and enhance educational and community outcomes.

The only sustainable way to reduce healthcare costs is to improve patients' overall health. Pharos aims to shift underserved communities from a reactive, emergency-care model to one built on prevention, early detection, chronic disease management, patient education, and addressing social determinants such as housing, transportation, education, job security, nutrition, and safety.

We produce an annual Impact Report for investors and collaborate year-round with a third-party impact measurement firm, to capture portfolio data. As members of the Global Impact Investing Network, we use the GIIN Plus framework to measure social and investment impacts.

The Broader Impact: Economic, Social, and Community Benefits

Pharos’s investments generate a range of positive spillover effects:

1. Job Creation & Economic Growth

Portfolio companies are often among the largest private employers in their regions, providing stable jobs, benefits, and career advancement for local residents.

2. Workforce Development

By investing in training, education, and leadership development, Pharos supports the growth of a diverse and skilled healthcare workforce.

3. Community Revitalization

Improved healthcare access attracts new businesses, enhances quality of life, and helps reverse cycles of decline in distressed areas.

 4. A Healthier Future For All

By narrowing gaps in access and outcomes, Pharos helps build healthier, more resilient families and communities.

Behavioral Health

From 265 beds to over 1,000.

Across Michigan, people experiencing homelessness and severe behavioral health conditions cycled through emergency rooms with no path forward. They received crisis care and returned to the same conditions.

Pharos invested in Beacon Specialized Living. Shelter. Food. Education. Vocational training. Sustained behavioral health treatment. Under the partnership, Beacon grew from 265 beds in 26 Michigan locations to over 1,000 beds across 200+ locations in five states.

92%

Reduction in ER visits
(Beacon)

200+

Locations in Five States

Results may vary by company and may not be repeated. Additional information related to risk and limitations of projected returns are available upon request. The above investments have been included for illustrative purposes only and have been selected in order to provide examples of the types of investments previously made by the Advisor and do not purport to be a complete list of investments. A complete list of current and prior investments is available upon request.

Kidney Care

Dialysis that comes to you.

For patients with kidney disease in rural and tribal communities, center-based dialysis means hours of travel multiple times a week. Many miss treatments. Disease progresses. Hospitalizations spike.

Sanderling brings dialysis into the patient's home. On tribal lands. In rural towns where the nearest center is over an hour away. The model trains patients and caregivers to manage treatment where they live.

60%

fewer hospitalizations

$10K+

saved per patient annually

Results may vary by company and may not be repeated. Additional information related to risk and limitations of projected returns are available upon request. The above investments have been included for illustrative purposes only and have been selected in order to provide examples of the types of investments previously made by the Advisor and do not purport to be a complete list of investments. A complete list of current and prior investments is available upon request.

Behavioral Health

A psychiatrist in every state.

Rural health centers, veterans' facilities, and crisis centers cannot recruit psychiatrists. Patients in acute mental health crisis wait days or weeks for evaluation. In communities where stigma is highest, access is thinnest.

FasPsych connects board-certified psychiatrists to patients through telepsychiatry. The clinician is on-screen, not relocating. The model solves the recruitment problem that leaves entire counties without mental health access.

45%

increase in mental health visits

All 50

states served

Results may vary by company and may not be repeated. Additional information related to risk and limitations of projected returns are available upon request. The above investments have been included for illustrative purposes only and have been selected in order to provide examples of the types of investments previously made by the Advisor and do not purport to be a complete list of investments. A complete list of current and prior investments is available upon request.