Acadia Executes 3 New Acquisitions, Fueling 2024 Growth Strategy

Behavioral health operator Acadia Healthcare (Nasdaq: ACHC) is executing its strategic M&A plan for 2024 with the announcement of three new acquisitions.  Franklin, Tennessee-based Acadia acquired three comprehensive treatment centers (CTCs) in North Carolina, bringing its number of CTC locations in the state to 10. The treatment centers combine behavioral therapy and medications for opioid […]

Pediatric Mental Health Provider InStride Lands $30M to Treat Anxiety, OCD

Pediatric behavioral health provider InStride Health has raised $30 million in Series B funding.  General Catalyst led the round with participation from .406 Ventures, Valtruis, Mass General Brigham Ventures and Hopelab Foundation. This new funding round brings the company’s total raise to $56 million and comes roughly a year and a half after the company […]

Digital Psychiatry Provider Brightside Health Raises $33M

Virtual mental health company Brightside Health has landed $33 million in Series C funding. Venture firm S32 led the new round of funding, which included participation from Kennedy Lewis, Time BioVentures, Redwood Pacific, ACME, Mousse Partners, and Triventures. This comes roughly two years after Brightside Health closed a $50 million Series B funding round led […]

PE Firm Regal Healthcare Capital Partners Invests $50M in Lightfully Behavioral Health

Private equity firm Regal Healthcare Capital Partners invested $50 million into mental health provider Lightfully Behavioral Health, according to an Axios report.  The $50 million is a culmination of a previous $30 million that Regal Healthcare Capital Partners invested in 2021 and a fresh $20 million. Thousand Oaks, California-based Lightfully provides mental health treatment in […]

How Federal Probe Into Private Equity’s Health Care Role Could Impact Behavioral Health Deals

Federal agencies may be cracking down on private equity investment in health care, which could have implications for behavioral health dealmaking in the future. In early March, the Federal Trade Commission, the Department of Justice’s (DOJ) Antitrust Division, and the U.S. Department of Health and Human Services launched a new investigation into private equity and […]

UpHealth Sells Cloudbreak Health for $180M, Accelerates Focus on Addiction Treatment

UpHealth Inc. (OTCMKT: UPHL) is one step closer to becoming a dedicated behavioral health company with the sale of a technology asset for $180 million. On March 15, the Delray Beach, Florida-based company completed the sale of its medical translation entity, Cloudbreak Health, to Chicago-based private equity firm GTCR LLC. Cloudbreak is headquartered in Columbus, […]

IOPs, PHPs Were Bright Spots Amid 2023’s Behavioral Health M&A Slowdown

While behavioral health dealmaking remained soft in 2023, one sector completed a record number of deals last year. Seventeen deals were completed in the outpatient partial hospitalization program (PHP), intensive outpatient program (IOP) and counseling sectors. Outpatient SUD treatment has become more popular because it is more affordable for patients and payers and easier for […]

PE Firms HCAP Partners, Hamilton Lane Fuse Three Companies to Make PAX Health

San Diego-based private equity firm HCAP Partners and two health care executives have launched a new platform company named PAX Health. The move merges Behavioral Medicine Associates (BMA), Workers Compensation Psychological Network (WCPN) and Reservoir Health under PAX Health. Hamilton Lane (Nasdaq: HLNE) managed funds enabled the deal, according to a news release. The terms […]

Behavioral Health Provider UpLift Branches Out to Colleges With Acquisition of TAO

Higher education institutions have increasingly sought partnerships with behavioral health providers to address the stresses of college, spurring an influx of mental health companies taking advantage of the opportunity. Digital mental health provider UpLift is the latest to diversify into the higher education space. The company acquired TAO Connect, an online platform with mental health […]

Is an IPO Worth It? What Good Exits in Behavioral Health Will Look Like in 2024.

Behavioral health dealmaking will likely pick up in 2024 but initial public offerings (IPOs) may be noticeably absent. The private market — especially private equity investors and their platforms — has more than enough capital and motivation to do deals, making this year a compelling time for exits and trades. Still, experts tell Behavioral Health […]