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 […]

BetterHelp Refunded Customers $93M in 2023

Teladoc’s (NYSE: TDOC) direct-to-consumer mental health subsidiary, BetterHelp, refunded $93 million to consumers in 2023. That amounts to about 8% of the company’s revenue, according to public SEC filings. BetterHelp saw its refund total increase by 15% compared to 2022. “BetterHelp regularly discloses the annual amount of refunds issued to members. Refunds may be offered […]

Psychiatric Provider InSite Health Raises $2.9M; Hybrid Care Company Octave Raises $5M

Psychiatric care provider InSite Health raises $2.9M New Jersey-based InSite Health has raised $2.9 million, according to an SEC filing. The psychiatric care provider offers services for adults and children. It specializes in medication management, psychiatric evaluations, behavioral threat assessments, and psychotherapy. It treats patients with anxiety disorders, PTSD, addiction, depression, ADHD, autism and behavioral […]

Medicaid Redeterminations Sunk UHS’ Child, Teen Behavioral Offerings in 2023

Universal Health Services (NYSE: UHS) saw its behavioral health services for children and teens take a downward turn in the latter half of 2023.  The company attributes its child and adolescent business declines to Medicaid redeterminations. Despite softness in residential and adolescent segments, UHS experienced “robust” demand for its behavioral health services in Q4 of […]

Hybrid Addiction Treatment Provider Eleanor Health Raises Over $22M

Substance use disorder (SUD) provider Eleanor Health has raised $22.23 million for its value-based care platform, according to an SEC filing. This new infusion of capital brings the company’s total raise to roughly $104 million. According to the SEC filing, the Waltham, Massachusetts-based provider plans to sell up to $30 million in equity in this […]

Talkspace Targets Teens and Seniors in Payer, Enterprise Push

In 2024, Talkspace (Nasdaq: TALK) will focus on expanding its services to teenagers and seniors via new partnerships with schools and municipalities, as well as broadening its reach within the Medicare program. Talkspace, which started as a direct-to-consumer company, continues to double down on its payer partnerships and direct-to-enterprise (DTE) strategy. Part of that strategy […]

Acadia Begins Construction on Florida JV; Ideal Option Opens New MAT Clinic

Ideal Option opens new MAT clinic  Outpatient addiction treatment provider Ideal Option opened a new clinic in Great Falls, Montanna. The new clinic will provide buprenorphine-based medication-assisted-treatment (MAT) to individuals with substance use disorder (SUD). The American Rescue Plan Act partly funded the new clinic. “The grant funding from the American Rescue Plan Act allows […]