Modern Health — a mental health and wellness platform — has raised $51 million in Series C funding. The investment brings the company’s total funding raised up to more than $95 million and pushes its valuation past $500 million, according to a press release announcing the news. Battery Ventures led the funding round, with additional […]
Kelso acquires majority stake in Refresh Mental Health Kelso & Company, a North American-focused middle market private equity firm, has acquired a majority stake in Refresh Mental Health, an outpatient mental health provider. Kelso did so in partnership with Refresh management. Terms of the deal were not disclosed. Kelso purchased its stake from Lindsay Goldberg, […]
Six months after filing Chapter 11 bankruptcy, American Addiction Centers (AAC) has completed its financial restructuring process, the company announced Monday. During that time, AAC reduced its debt by about $500 million, setting the provider up for its “next phase of growth.” The ultimate goal is to continue serving people suffering from substance use disorder […]
The COVID-19 emergency has only exacerbated the nation’s substance use disorder (SUD) crisis, which was already a national emergency in and of itself. Amid the coronavirus, overdose deaths have spiked, with the nation seeing about a 10% increase in fatalities in the first three months of the year, according to the Centers for Disease Control […]
Ocean Recovery adds new COO Ocean Recovery — a Newport Beach, California-based addiction and eating disorder treatment center — has hired a new COO. Cade Saurage stepped into the role this November. He has more than 19 years of industry experience. Before becoming COO of Ocean Recovery, Saurage spent eight years serving as the director […]
Blueprint — a software startup designed to help mental health clinicians — has raised $3.4 million in seed funding. The new financing brings the company’s total funding raised up to $4.7 million. Based in Chicago, Blueprint is a technology company whose goal is to help mental health clinicians make informed treatment decisions using measurement-based care. […]
Spero Health and Cordant Health Solutions have teamed up to make the overdose-reversing drug naloxone, also known as Narcan, a normal part of medication-assisted treatment (MAT). The initiative is already showing promising results, the companies announced in a press release. Headquartered in the Nashville area, Spero Health is one of the nation’s largest office-based opioid […]
Acadia Healthcare (Nasdaq: ACHC) has formed a joint venture with Henry Ford Health System to bring a new behavioral health hospital to the Detroit area. The pair announced the JV Wednesday. Headquartered in Franklin, Tennessee, Acadia bills itself as the nation’s largest standalone provider of behavioral health services. As of Sept. 30, it boasted 582 […]
In 2020, the COVID-19 emergency turned the behavioral health industry upside down, impacting everything from reimbursement and revenues to service delivery and demand itself. In the year ahead, the coronavirus will continue to shape the behavioral space. As such, behavioral health executives predict that technology and consolidation will take center stage in 2021. At the […]
Pear Therapeutics has raised $80 million in Series D funding, the digital therapeutics provider announced Tuesday. The new financing adds on to the $134 million in funding the company has already raised. SoftBank’s Vision Fund 2 led the latest funding round, with additional participation from new and existing investors. New participants include Forth Management, Pilot […]
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