Regulatory ambiguity and payer pushback have clouded behavioral health dealmaking over the last year, but investors at last week’s INVEST conference in Nashville are finding opportunities in the uncertainty. At the beginning of 2025, behavioral health investors and providers were optimistic. Many anticipated that the Trump administration’s regulatory approach would create favorable conditions for dealmaking. […]
Ethema Health Corporation (OTCQB: GRST), a provider of behavioral health and substance use disorder (SUD) services, plans to acquire Addiction Recovery Care LLC, a company that has been under FBI scrutiny for health care fraud in recent years. Combined revenue from the acquired assets could reportedly exceed $100 million in 2026 alone. Ethema plans to […]
Behavioral health dealmaking has risen steadily in 2025, falling short of the blockbuster year analysts had predicted. That tempered growth reflects two primary factors: uncertainty in the Medicaid market, one of the top payers in the behavioral health space, and the continued pressures of high interest rates and wage inflation. Over the summer, Congress approved […]
I’ve been the editor for Behavioral Health Business (BHB) for more than three years, and I can firmly attest that M&A and reimbursement trends are the hot topics audiences are most likely to read. It makes sense; money makes the world go round, and providers must understand how they will get paid. Still, there are […]
Family mental health company Manatee has acquired AI-backed mental health coaching company HappyPillar. HappyPillar offers a digital self-guided, parent-child therapy tool. The platform uses AI and machine learning to help customize and create 5-minute daily therapeutic sessions for children. The tool also has a mood and behavior tracking feature to monitor progress. Meanwhile, Manatee offers […]
Nonprofit IDD provider I Am Boundless has acquired a multi-system youth program in Dayton, Ohio. As part of the deal, Boundless will add three intermediate care facilities (ICFs) in Dayton to its portfolio. The residential facilities are focused on treating young people with complex needs, including autism, serious mental illness and high-acuity behaviors. “This expansion […]
Addiction treatment providers Advanced Recovery Systems and Pyramid Healthcare are reportedly preparing for a sale. Both providers are focused on the substance use disorder industry and are private equity-backed. According to reports from Axios, Advanced Recovery Systems, an addiction treatment provider that operates in nine states, is currently up for auction. The Goldman Sachs-backed company is […]
Pediatric behavioral health provider Hazel Health has announced its second acquisition this year. Hazel Health has acquired fellow youth mental health startup Little Otter. This comes just months after the provider closed a deal to purchase youth mental health startup BeMe Health. Little Otter provides coaching, therapy and psychiatric services for children with mental health […]
Editor’s note (Oct. 6, 2025): This story was updated with additional commentary from Talkspace after the story was originally published. Digital mental health company Talkspace Inc. (Nasdaq: TALK) has acquired one of its digital partners: Wisdo Health. On Monday, New York City-based Talkspace announced it had acquired Wisdo Health, a moderated social media and peer […]
Editor’s note (Oct. 2, 2025): This article has been updated to reflect the correct count of BrentCare Behavioral Health and Modern Recovery Network facilities. Brentwood, Tennessee-based BrentCare Behavioral Health has acquired Modern Recovery Network. The deal adds several facilities and a nationwide telehealth provider organization to the assets of BrentCare Behavioral Health. Before the deal, […]
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