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This is an exclusive BHB+ story Nonprofit behavioral health provider Centerstone has elevated its chief financial officer to the role of chief operating officer. New COO Carol Bean is planning to be “bold” to accelerate Centerstone’s growth and seeks to double the company’s revenue. Specifically, she aims to spur the company’s certified community behavioral health […]
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While tens of millions of people in the U.S. are estimated to have substance use disorders (SUDs), only about 15% of people receive care. Of those who do not receive care, less than 6% believe they need treatment, according to a research letter published in JAMA Network Open. Only 2.7% of that population believe they […]
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Virtual opioid use disorder (OUD) treatment provider Bicycle Health has achieved profitability after abandoning its “growth at all costs” mindset and streamlining its business model. The company is now set for long-term, disciplined growth, including acquiring other providers, founder and CEO Ankit Gupta told Addiction Treatment Business. Bicycle will use funds from a new $16.5 […]
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Substance use disorder (SUD) treatment provider Meridian Behavioral Health has acquired Gateway Recovery Center, adding a crucial element to its continuum of care. Gateway provides medical detoxification, a service for which Meridian previously had to refer patients elsewhere. The acquisition is also part of Meridian’s strategic growth plan, which CEO Lewis Zeidner estimates will involve […]
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Recovery Dynamics Secures PE Investment to Scale SUD Services
By Morgan Gonzales| January 28, 2025Private equity firm Optimal Investment Group has invested in substance use disorder (SUD) treatment provider Recovery Dynamics. Recovery Dynamics plans to use the strategic investment to grow its service lines and embark on an “ambitious expansion plan.” “Our investment reflects our confidence in the company’s vision and operational expertise, and we are committed to providing […]
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Recovery Solutions is now a standalone business after completing its court-approved separation from government contract congregate care provider Wellpath. On Monday, executives with the former behavioral health division of Wellpath, branded as Recovery Solutions, announced it was no longer affiliated with its former parent company and now solely focuses on behavioral health services, particularly for […]
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This is an exclusive BHB+ story The long-awaited special registration rule for telehealth prescribing dropped last week. The proposed rule has already raised some hackles with industry insiders, and the newly installed Trump administration has promptly withdrawn the proposal. Withdrawing the proposal doesn’t mean the rule is dead. After review, the Trump administration may allow […]
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Franklin, Tennessee-based addiction treatment facility operator Landmark Recovery faces several lawsuits over its business dealings, the latest involving a breach of contract dispute with one of the largest institutional pharmacies in the U.S. On Dec. 5, Pharmacy Company of America, also known as Pharmerica, filed a lawsuit in the U.S. District Court for the Western […]
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Eleos Closes $60M Series C Round, Plans to Enter SUD Treatment Market
By Morgan Gonzales| January 22, 2025Behavioral health technology company Eleos raised $60 million, bringing its total funding to over $120 million. Greenfield Partners led the Series C round with participation from F-Prime Capital, Eight Roads, Menlo Ventures, ION, Michael & Susan Dell Foundation, Union Tech Ventures and Centerstone. The company plans to use the cash infusion to expand its product […]
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This is an exclusive BHB+ story Experts warn that rates of cannabis use disorder (CUD) are increasing due to more favorable perceptions of the drug and higher concentrations. Providers already treating substance use disorders (SUDs) have the tools to treat CUD – a move that could increase care access and strengthen revenue streams. However, better […]