PE-backed Health Connect America acquires Specialized Youth Services of Virginia
Health Connect America Inc., a Palladium Equity Partners-backed platform, continues its behavioral health M&A expansion efforts with its sixth add-on investment since August 2021. At that time, New York City-based Palladium acquired Franklin, Tennessee-based Health Connect America from Harren Equity Partners.
Its latest target, Petersburg-based Specialized Youth Services of Virginia Inc., offers private day school services. Founded in 1991, Specialized Youth Services will become Health Connect America’s fifth facility in its KEYS Academy program.
Specialized Youth Services caters to children that public school settings or other agencies cannot adequately serve.
The terms of the deal were not disclosed.
Health Connect America’s previous deals saw it acquire First Home Care and North Star Counseling of Central Florida. Those were announced in February. The company’s portfolio of services includes treatments for conduct disorder, substance abuse, autism disorders and emotional disturbance.
Invo Healthcare to hand over ABA services in PA
Doylestown, Pennsylvania-based Invo Healthcare will transition its autism treatment centers in the state to Ridley Park, Pennsylvania-based Helping Hands Family.
Invo Healthcare, an autism therapy and other youth services provider decided to shutter several in-home and center-based applied behavior analysis (ABA) provider organizations it had acquired over the years following its acquisitions by Golden Gate Capital and Jordan Company.
Helping Hands Family, owned by New York City-based Zenyth Partners, will be taking over the two centers, one each in Ridley Park and Newtown Square. Both clients and employees will join Helping Hands to avoid lapses in care.
Invo Healthcare retained its school-based business lines.
Shuttered Acadia Healthcare facility acquired by state
The state of Washington acquired Cascade Behavioral Health Hospital for about $30 million from Franklin, Tennessee-based Acadia Healthcare Co. Inc. (Nasdaq: ACHC), according to a report by the Seattle Times.
Located in Tukwila, Washington, Cascade Behavioral Health Hospital stutters at the end of July. The facility’s CEO told state regulators in a mass-layoff notice that its business was no longer sustainable after the onset of the coronavirus pandemic.
Psychiatric hospitals such as Cascade Behavioral Health Hospital face a difficult operating environment, according to several insiders and experts in the space.
State regulators will not open the facility at the same capacity nor to the same patient population. The Seattle Times reports it will serve 20 civil conversion patients from state psychiatric facilities, namely Western State Hospital.
Pneuma Behavioral Health expands in North Carolina via acquisition
Charlotte, North Carolina-based Pneuma Behavioral Health acquired youth-focused mental health services provider Bright Path Behavioral Health.
The deal adds an in-network partial hospitalization program (PHP) and intensive outpatient program (IOP) services provider that caters specifically to youth aged 13 to 18 to its footprint.
Bright Path Behavioral Health serves youth struggling with depression, severe anxiety, trauma disorders, mood regulation issues and obsessive-compulsive disorder.
After the acquisition of Bright Path, Pneuma Behavioral Health operates services in four North Carolina cities.