Mental Health Care Benefits Provider Lyra Health Raises $187M

Mental health care benefits provider Lyra Health has raised $187 million in Series E funding, the company announced Friday, bringing its total funding raised up to about $480 million. The latest round was led by the venture capital firm Addition. New investors Durable Capital Partners, Fidelity Management & Research Co. and Baillie Gifford also participated, […]

Digital Behavioral Startup Hurdle Raises $5 Million to Help Underserved Communities

Hurdle, a digital behavioral health startup that specializes in treating underserved communities, has raised $5 million in seed funding. Seae Ventures and 406 Ventures led the funding round, with additional participation from F-Prime Capital Partners, according to a press release announcing the news. Hurdle, which was formerly Henry Health, was founded in 2018 with a […]

Transactions: Bain-Backed Broadstep Acquires Youth Treatment Provider; Summit BHC Expands in Virginia

Broadstep purchases youth-focused behavioral operator Raleigh, North Carolina-based Broadstep Behavioral Health — a provider of community and residential services to individuals with intellectual and developmental disabilities (IDD), as well as behavioral health conditions — has announced its acquisition of the South Carolina-based residential treatment provider Excalibur Youth Services. Terms of the deal were not disclosed. […]

After Active Year, Monte Nido Outlines Multi-Pronged Growth Strategy for 2021

Despite the pandemic, 2020 was a busy year on the growth front for Monte Nido & Affiliates. Last year alone, the private equity-backed eating disorder treatment provider added five new residential treatment sites and acquired an inpatient facility, while also entering multiple new states. Headquartered in Miami, Florida, Monte Nido & Affiliates has more than […]

Pipeline: PE-Backed Community Medical Services Adds Several Locations; MindPath Expands

Community Medical Services opens locations in Arizona, Wisconsin Scottsdale, Arizona-based Community Medical Services, which operates medication-assisted treatment (MAT) clinics in several states, has opened two new opioid treatment programs (OTPs), one in Phoenix, Arizona, and one in South Milwaukee, Wisconsin. The South Milwaukee location opened in October, and the Phoenix facility opened earlier this month. […]

Talkspace Bullish on Growth Via M&A, Global Expansion

Transactions and international expansion could be in the future for Talkspace. The subscription-based therapy provider previewed multiple potential growth levers for the company recently during an investor presentation. Based in New York City, Talkspace remotely connects users to licensed therapists via text and video. The company provides services directly to consumers, as well as to […]

Hopebridge to Hire 2.7K Employees, Open 20 New Locations in 2021

Hopebridge Autism Therapy Centers has announced plans to add more than 2,700 new employees and open up to 20 new locations in 2021. Headquartered in Indianapolis and backed by the private equity firm Arsenal Capital Partners, Hopebridge is one of the nation’s largest autism treatment organizations. It provides center-based applied behavior analysis (ABA), diagnostics, occupational […]

Pipeline: Pinnacle’s New OTP; Action Behavior Centers Expands

Pinnacle Treatment Centers expands in Ohio Pinnacle Treatment Centers has opened a new opioid treatment program (OTP) in Sandusky, Ohio. The addition marks the provider’s 15th location in the state. Headquartered in New Jersey, Pinnacle provides the full range of medication-assisted treatment (MAT) services. It has more than 115 locations across eight states and specializes […]

CARD Founder Details Company’s Path to Success, 2021 Growth Outlook

The Center for Autism & Related Disorders (CARD) is currently the largest autism treatment provider in the world, with 235 locations across 27 states. But the 30-year-old company wasn’t always the behemoth that it is today. In fact, CARD founder and executive director Doreen Granpeesheh attributes much of the company’s success to being in the […]

Transactions: Two Acquisitions for BayMark; Psychedelic Therapy Deal

BayMark adds first U.S.-based residential facility BayMark Health Services — a North American medication-assisted treatment (MAT) provider — has acquired its first U.S.-based residential treatment facility. Earlier this month, BayMark added Portland, Maine-based Liberty Bay Recovery Center to its portfolio. Financial terms of the deal were not announced. Headquartered in Lewisville, Texas, BayMark has more […]