Chicago-based mental health care provider Stella has acquired the majority of ketamine-assisted therapy provider Field Trip Health & Wellness Ltd’s U.S. assets. The deal gives Stella a new line of business which its CEO says complements its existing offerings. Plus, the combined Stella-Field Trip assets will generate higher revenue and lower overhead than Field Trip […]
Private equity-backed Harmony Health Group has acquired three facilities that were formerly part of Delphi Behavioral Health Group’s network. Charlotte, North Carolina-based Harmony Health Group operates 13 treatment centers throughout Florida, North Carolina, Tennessee, New Jersey and Massachusetts. Services at those facilities include treatment for mental health and substance-use disorders (SUDs), as well as dual-diagnosis […]
Outpatient behavioral health provider LifeStance (Nasdaq: LFST) is focusing on a more balanced approach to growth – at least until 2024 – as it moves into its “second chapter.” That’s according to LifeStance CFO David Bourdon. The company will prioritize operational performance, profitable growth and a more tapered approach to deploying capital until 2024. During […]
Digital behavioral health startup Octave has landed $52 million in a Series C funding round led by Cigna Ventures, Novo Holdings and Avidity Partners. This new infusion of capital will fuel the virtual care provider’s expansion into all 50 states by 2024. The latest funding round brings the company’s total raise to $86 million. Behavioral […]
Private equity firm TPG Capital has made a “significant investment” in mental health and substance use disorder (SUD) provider Banyan Treatment Centers. The terms of the deal were not disclosed. Banyan Treatment Centers has over 20 facilities across Massachusetts, Pennsylvania, Delaware, Illinois, Florida, Texas, California and Alaska. Its services include detox, residential, partial hospitalization, intensive […]
Behavioral health deals in Q1 dropped to the lowest level since 2020. That’s according to a new report by M&A advisory firm Mertz Taggart, which recorded a total of 27 deals in the first quarter of the year. In comparison, the quarterly deal average for 2022 was just over 44 deals. The Mertz Taggart report […]
Rising interest rates, high labor costs, and conflict in Eastern Europe have led to a shaky start to behavioral health dealmaking in 2023. That’s according to a new report by M&A advisory firm The Braff Group, which found the annualized results for behavioral health dealmaking are down by more than 26% from 2022. Still, compared […]
ARC Health continues its blistering dealmaking spree with the acquisitions of Los Angeles-based Silver Lake Psychology and Denver Wellness Associates. The two deals mark the fifth and sixth acquisitions of the private-equity-backed mental health platform company in 2023 alone. Silver Lake Psychology is the largest firm acquired so far and indicates a focus on larger […]
Vertava Health sold three of its four residential addiction treatment centers as part of a scale-back and pivot strategy. The Nashville-based mental health and addiction treatment company sold the facilities to Fort Lauderdale, Florida-based Regard Recovery in a deal that closed at the end of 2022. Terms of the deal were not disclosed. The move […]
Private equity investment in behavioral health continued to plummet in the first quarter of 2023. In Q1, there were 13 private equity deals across mental health, substance use disorder, IDD care, ABA and pediatric therapy, according to new data from PitchBook. In contrast, the total private equity deal count in 2022 was 73, an average […]
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