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 […]

Beacon Behavioral Partners Adds 9 New Clinics

Beacon Behavioral Partners announced it will expand further into the Southeastern U.S. by acquiring nine new partner clinics. Latticework Capital-backed Beacon Behavioral Partners is a network of psychiatric practices. It has locations in Louisiana, Arkansas, Mississippi and Texas. Beacon’s partnership model offers physicians equity ownership in the company and clinical autonomy. The network offers to […]

Investors Pursue Behavioral Health Platform Deals After Tumultuous 2023

After a year of reckoning, the behavioral health industry is set up to see platform deals return to the market. In 2023, behavioral health dealmaking was down by roughly 30% year-over-year. This slowdown was partly due to macroeconomic trends, including inflation, high interest rates and the conflicts in Eastern Europe and the Middle East. The […]

Behavioral Health Provider Turnbridge Pursues Sale, Promotes $15M EBITDA 

Behavioral health operator Turnbridge is in talks to sell, touting about $15 million of EBITDA. Turnbridge, which provides mental health and substance use disorder (SUD) care, is pursuing a sale of the company, according to Axios. Investment banking firm Raymond James was hired to lead the sale, sources say.  New Haven, Connecticut-based Turnbridge offers gender-specific […]

Behavioral Health Dealmaking to See More Venture Capital Investment in 2024

While behavioral health dealmaking remained slow in the last quarter of 2023, seed and venture deals became a more active part of the space. That’s according to Mertz Taggert’s Q4 2023 dealmaking report, which recorded 31 transactions in the fourth quarter of 2023–the least since 2020. Overall, there were 136 behavioral health deals in 2023, […]

Nonprofit Behavioral Health Operators The Nord Center, LCADA Way to Merge, Form $45M Organization

Behavioral health operators The Nord Center and The LCADA Way will merge, effective July 1, 2024.  The Lorain, Ohio-based nonprofits will form a $45 million organization that employs about 425 people and operates about a dozen locations, according to a news release. The move attempts to create a “no wrong door approach to behavioral health […]

Top Behavioral Health Trends for 2024

After a tumultuous 2023, 2024 may be a steadier year for the behavioral health industry. While behavioral health deals slipped in 2023, Behavioral Health Business expects M&A to pick up this year as interest rates fall and the economy stabilizes. Still, the M&A craze of 2021 is unlikely, and mega deals will be scarce. This […]

ARC Health Closes 2023 With 18th Merger

ARC Health closed out 2023 with an outpatient mental health acquisition, marking a two-year-long M&A blitz. On Dec. 29, the Independence, Ohio-based company acquired Exult Healthcare for an undisclosed amount. Exult operates several types of care at its two locations north of Dallas-Fort Worth, Texas. These include on-site medical treatment, medication-assisted treatment (MAT), transcranial magnetic […]

Behavioral Health Treatment Center Merges with B2B Telehealth Company, Lands $7M Round

Behavioral health companies Integrative Life Network LLC and Integrative Health Centers Inc. have merged, rebranding as Peregrine Health. The fusion of the two Nashville, Tennessee-based behavioral health companies creates a company with direct-to-consumer and business-to-business service lines. Each was founded and led by Ryan Chapman, who will lead the combined company as CEO, according to […]