PE Firm Reportedly Looking to Sell SpringStone for $1B

Welsh, Carson, Anderson & Stowe is reportedly looking to sell SpringStone, its network of more than 30 behavioral health facilities, according to PE Hub.  The news outlet cited “four sources with knowledge on the matter,” reporting that the private equity firm is hoping to get upward of $1 billion for the Louisville, Kentucky-based business it […]

Group Therapy Startup Real Raises $10M

Real, a digital group therapy startup, has raised $10 million in Series A funding. Lightspeed Venture Partners led the round, along with other existing and new investors, some of which include soccer star Megan Rapinoe and Minnesota Vikings linebacker Erik Kendricks. Actress Gwyneth Paltrow has also previously invested in the company. Founded in 2019, Real […]

Transactions: KKR’s $1.2B Behavioral Deal; IBH buys Uprise

KKR to acquire Therapy Brands The global private equity giant KKR has agreed to acquire a majority interest in Therapy Brands, a practice management and EHR software platform for behavioral health and physical rehabilitation providers. The investment firm announced the news Wednesday. While terms of the transaction were not disclosed, Bloomberg reported that KKR is […]

Behavioral Home Health Company ViaQuest Scores PE Investment from Council Capital

ViaQuest — a Dublin, Ohio-based provider of intellectual and developmental disabilities (IDD), behavioral health and hospice services — has received an equity investment from Council Capital, a health care-focused private equity firm. Terms of the investment were not announced. Operating in Ohio, Indiana and Pennsylvania, ViaQuest provides residential, day and employment services to individuals with […]

Pipeline: New Projects for Acadia, UHS; SUD Providers Expand Reach

Acadia forms JV with Geisinger Acadia Healthcare (Nasdaq: ACHC) has formed a joint venture (JV) with Danville, Pennsylvania-based Geisinger Health System to build two new inpatient behavioral health facilities. The companies are putting a combined total of about $80 million toward the projects. The first of the two facilities will open next year in Moosic, […]

Behavioral Tech Company Empower Community Care Snags PE Investment from Northlane Capital Partners

Empower Community Care, an Atlanta-based company that provides behavioral health services and technologies to vulnerable populations, has received an investment from the middle market private equity firm Northlane Capital Partners (NCP). NCP’s investment was made in partnership with Empower’s existing management team, led by co-CEOs Josh Glade and Logan Greenspan, as well as co-founder Keller […]

Transactions: Sabra Expands Behavioral Portfolio; Autism Acquisitions with National Scale

Acorn Health acquires Sandcastle Centers Acorn Health — a national provider of applied behavior analysis (ABA) therapy — has acquired the assets of Sandcastle Centers, formerly known as JKP Analyst, which also provides ABA services. Financial terms of the deal were not disclosed. Founded in 2018, Acorn is a portfolio company of the private equity […]

Acadia Announces Joint Venture to Build New Behavioral Hospital

Acadia Healthcare (Nasdaq: ACHC) and Lutheran Health Network of Indiana have announced a joint venture partnership to build a behavioral health hospital in Fort Wayne. The 120-bed facility, which is scheduled to open next spring, will provide inpatient and outpatient care to adults, seniors and adolescents for acute mental health conditions like anxiety, depression, bipolar […]

Top Trends in Digital Behavioral Health Investment

Despite the pandemic, digital behavioral health had its best year ever in terms of venture funding in 2020, when companies in the space brought in a combined $2.4 billion dollars.  That figure comes from Rock Health, a venture fund that invests in digital health companies. The company recently explored the digital behavioral health market’s key […]