SUD Treatment Platform Workit Health Raises $118M in Series C Round

Workit Health, a digital provider of substance use disorder (SUD) treatment, has raised $118 million in Series C funding. The Ann Arbor, Michigan-based company announced Thursday the results of the round, which was led by Insight Partners. Additional participants in the round included CVS Health Ventures, FirstMark Capital, BCBS Venture Fund and 3L Capital. Founded […]

Pipeline: New SUD Treatment Clinics from BayMark, Spero Health; Voyages Behavioral Health Developing New Facility

BayMark opens new Ohio clinic Substance use disorder (SUD) treatment provider BayMark Health Services has opened a new clinic in Marietta, Ohio, which offers medication-assisted treatments (MATs) for individuals suffering from opioid addiction. MedMark Treatment Centers Marietta is located in the southeastern corner of the state in Washington County — across the Ohio River from […]

Wayspring Raises $75M for Value-Based Substance Use Disorder Treatment

axialHealthcare — a Nashville, Tennessee-based substance use disorder (SUD) treatment company — has received a $75 million investment, along with rebranding itself to Wayspring. Founded in 2012, Wayspring is a value-based care solutions company that links prospective patients to providers of treatment services. Patients and providers are connected through a network of SUD treatment organizations, […]

Pipeline: Acadia Begins Construction on Geisinger JV; Multi-State ABA Provider Opens New Center

Acadia breaks ground on JV behavioral health facility with Geisinger Ground has been broken on a 96-bed, 73,000-square-foot inpatient behavioral health facility in Moosic, Pennsylvania that will be operated as a joint venture (JV) between Acadia Healthcare (Nasdaq: ACHC) and Geisinger Health System. Geisinger Behavioral Health Center Northeast will treat adult, pediatric and adolescent patients […]

Spring Health Hits $2B Valuation After New $190M Funding Round

Behavioral health benefits company Spring Health announced Thursday that it has raised $190 million in a Series C round led by Swedish growth investment firm Kinnevik. The round included a number of participants, including several existing investors, as well as the Guardian Life Insurance Company of America, which is a new investor. Spring Health reported […]

Pipeline: Equip Expands to New States; Regional Psychiatric Care Provider Adds Telepsychiatry Services

Equip now available in Oregon and Washington The San Diego-based Equip, a virtual eating disorder treatment platform, has expanded its services to patients in Washington state and Oregon. The company is in network with PacificSource and Optum in these two states, with plans soon to accept other insurers. Equip cited the low rates of people […]

Funding Roundup: Ellipsis Health Lands $26M in Series A; New Seed Round Investments

Ellipsis raises $26M Behavioral health artificial intelligence (AI) company Ellipsis Health has scored $26 million in Series A funding. SJF Ventures led the round, with additional participation from firms such as AblePartners, Alumni Ventures, Generator Ventures, Greycroft Partners, Khosla Ventures and Luminous Ventures, among other investors. The new money brings the total amount raised by […]

Pipeline: Ideal Option Deepens Office-Based MAT Footprint; New ABA Facilities Open

Ideal Option deepens footprint in Washington state Ideal Option has opened a new clinic in Marysville, Washington. Founded in 2012 and headquartered in Kennewick, Washington, Ideal Option operates 70 office-based MAT centers across ten states. It has nearly 30 in Washington state. The new facility will treat patients for addiction to fentanyl, heroin, alcohol and […]