Scottsdale, Arizona-based LifeStance Health Group Inc. (Nasdaq: LFST) announced the acquisition of Seattle-based company Acuity Counseling.
On its website, Acuity announced that LifeStance Health made the acquisition on Oct. 21 but further details on the deal are sparse.
Founded in 2016 by its CEO Colleen Hilton, Acuity operates in seven locations across Seattle, Tacoma and Spokane.
“From where it started with me alone, in a single tiny office (the not so glamorous but very real story), to the diverse multi-disciplinary team of many, serving all of Washington state from multiple offices, I am so proud of the impact we have!” Hilton said in a public LinkedIn post.
“I am excited for the future as we now have the support of LifeStance’s full national resources behind us,” she added.
Hilton’s LinkedIn page indicates that her employment with Acuity Counseling ended in October and that she is now CEO and co-founder of Thrivelution, an AI-enabled platform for businesses to help employees connect with therapists.
LifeStance Health operates over 450 centers in 31 states. It also employs about 4,000 professionals which include psychiatrists, advanced practice nurses, psychologists and therapists.
LifeStance is one of the nation’s largest outpatient mental health providers despite only being founded in 2017. In August 2020, TPG Capital invested $1.2 billion in the company to acquire a majority interest in the company.
LifeStance went public in an IPO debut that valued the company at about $7.9 billion in June 2021.
In August, BHB reported that LifeStance posted a 94% increase in the number of clinicians it employed in the second quarter of 2021 compared to 2020. The spike in the number of providers drove a year-over-year increase of revenue for the quarter, increasing by 91% to 160.5 million.
Also in August, BHB reported that the company had hired Laura Cervantes as its executive vice president of corporate strategy who joined the company in 2018.
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