William Furness has been named the new CEO of Lynchburg, Virginia-based Thriveworks.
Furness announced last week that he had taken on the role in a LinkedIn post and succeeds founder Anthony Centore who started the company in 2008.
Thriveworks offers in-person and online counseling and psychiatry and lists 321 locations in 42 states and Washington D.C. according to its website.
Furness joined Thriveworks in September 2021 as chief operating officer and then became president in February 2022.
“I’m honored to be part of a leadership team that is helping solve the mental healthcare affordability and access problem in the U.S,” Furness said in the post. “With more than 300 locations, and thousands of amazing clinicians, I know we will continue to grow our impact and help countless clients thrive in the coming years.”
Furness has been an executive in the health care industry for the past 15 years.
Before joining Thriveworks, he was the president and chief operating officer of Downers Grove, Illinois-based Vein Clinics of America — which operates more than 50 locations in 15 states — for two years. He also has held a position on the board of advisors for Radial Analytics, a real-time decision support application for clinicians, since July 2019, according to his LinkedIn page.
Part of Thriveworks’ business is its franchise business model where it markets “a turn-key counseling practice” on top of extensive operations support, scheduling services, in-house billing and a network of support to potential partners, according to its website.
In 2021, Thriveworks announced a partnership with SelectQuote to provide virtual behavioral health, medication management services and in-person services across the country to enhance SelectQuote’s Population Health platform.
In July 2021, Thriveworks announced a funding round for Thriveworks Administrative Services, its management services organization, but didn’t disclose the amount raised. Boston-based private equity firm Wellington Management Co. LLP led the round. Other new investors included Fidelity Management & Research Company LLC, RA Capital Management, Redmile Group, and Transformation Capital.
Following the investment round, New York City-based Regal Healthcare Capital Partners will remain Thriveworks MSO’s largest equity holder. Regal originally invested in the Thriveworks MSO in 2019.
A month later, a corporation called Thriveworks TopCo LLC, whose board members and executive officers include Centore and partners at Regal Healthcare Capital, disclosed selling $340.2 million in equity to 21 investors, according to a public Securities and Exchange Commission filing.
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