Trinity Capital announced a $50 million growth‑capital debt facility to Sage Health, a primary‑care and wellness provider focused on Medicare‑eligible seniors. The loan brings Sage’s total capital raised to $170 million and will fund the opening of new neighborhood health centers in Alabama, Arkansas, Maryland and Mississippi, targeting medically underserved markets.
Sage Health’s capital trajectory has accelerated over the past few years. The company raised $180 k in a seed round in 2023 led by Orbit Startups, $2 million in a seed round in 2018, and a $35 million Series B in December 2024 led by IVP. The new $50 million facility completes a funding path that has positioned Sage to scale its senior‑focused care model across the Southeast.
Trinity Capital’s own financial performance underscores the confidence behind the deal. In Q4 2025 the firm reported earnings per share of $0.52, beating analyst expectations of $0.51, and revenue of $58.89 million. Net investment income for the quarter was $39.9 million, up 17.5 % year‑over‑year, while total investment income reached $83.2 million.
Rob Lake, Senior Managing Director of Life Sciences at Trinity Capital, said, "We believe Sage is addressing critical gaps in senior healthcare by delivering personalized, compassionate, and comprehensive care. We're proud to partner with their team and aim to drive meaningful outcomes across the industry." John Haskell, Founder and CEO of Sage Health, added, "Trinity has a competitive advantage in their ability to tailor growth funding to specific use cases and collaborate seamlessly with their partners. When they visited our center in inner‑city Baltimore, they saw firsthand the power of what we do. I was impressed by their thoughtful questions and their natural interactions with our patients and clinic staff, as they blended right into our team. We were already flying in formation together, and that will take us far moving forward."
The senior‑care market provides a strong tailwind for the transaction. In 2023 the U.S. senior living market was valued at $923.20 billion and is projected to grow at a CAGR of 4.16 % to reach approximately $1.22 trillion by 2030. Sage’s expansion into underserved regions aligns with this broader industry momentum and positions the company to capture a growing share of the Medicare‑eligible population.
Trinity Capital’s strategy to deploy capital across its five lending verticals—Sponsor Finance, Equipment Finance, Tech Lending, Asset‑Based Lending and Life Sciences—has been reinforced by this deal. The $50 million facility is a debt‑only transaction that expands Trinity’s loan portfolio without diluting shareholder equity, while its captive asset‑management arm generates incremental fee income. The partnership exemplifies Trinity’s platform transformation, delivering tailored growth capital to companies that can scale rapidly in high‑growth sectors.
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