Joint ventures are leading behavioral health provider Acadia Healthcare’s (Nasdaq: ACHC) growth strategy. On Tuesday at the BofA Securities 2023 Healthcare Conference, Acadia CEO Christopher Hunter revealed that roughly 50% of his company’s projected 670-bed additions this year are in the acute care setting, with the bulk of those additions driven by joint ventures. JVs […]
Category: Finance
Beachwood, Ohio-based ARC Health announced Monday its acquisition of Positive Change Counseling Center, marking its first practice in California. The deal is the company’s fourth announced in 2023. ARC Health is a fast-growing outpatient mental health platform company backed by Chicago-based private equity firm the Thurston Group. Terms of the deal were not disclosed. “Practice […]
Private equity firm Graham Family Office has merged with outpatient behavioral health provider Quince Orchard Psychotherapy. The terms of the deal were not disclosed. Founded in 2015, the provider offers counseling, cognitive behavioral therapy, psychological assessments, play therapy, teletherapy, virtual group therapy and medication management. It cares for adults, adolescents, children, couples and families. Last […]
CVS Health (NYSE: CVS) has doubled down on its plans to integrate care across its foundational business. The retail powerhouse, which owns payer giant Aetna, noted in its first-quarter financial filings that it serves 2.9 million members who are enrolled in its integrated medical and pharmacy plans. Members registered in the integrated offering have a […]
Virtual mental health company Talkspace (NASDAQ: TALK) projects it will reach profitability within a year, driven by an increased focus on the B2B market. This is big news for the digital health company, which has struggled on the public markets over the last year and is still at risk of being delisted from NASDAQ. “Talkspace […]
Innovive Health, a home health provider that caters to individuals with serious mental illness (SMI), has announced its expansion into Colorado after acquiring an operating license from an already established business. This marks the second state for the Medford, Massachusetts-based provider, which cares for about 20,000 patients per week in its home state. Innovive uses […]
Teladoc (NYSE: TDOC) attributed its direct-to-consumer mental health segment BetterHelp’s first-quarter revenue growth to an uptick in membership and stable customer-acquisition costs. In 2022, the telehealth provider struggled to keep up with the rising customer-acquisition costs, which were partly inflated by new digital behavioral health competitors. “Customer acquisition trends have remained stable year to date, […]
Cortica Inc. has secured $75 million of investment and acquired two companies, expanding its footprint across the U.S. The San Diego-based whole-child pediatric autism and neurodevelopment care provider now operates 23 centers following its acquisition of Trumbull, Connecticut-based Springtide Child Development and Scottsdale, Arizona-based Melmed Center. “What’s happened is a recognition that the future of […]
Digital behavioral health benefits company Spring Health has raised $71 million in a new funding round. This brings the unicorn’s valuation to a whopping $2.5 billion. New York-based Spring Health is a B2B behavioral health organization that teams up with employers and health plans to offer digital support, meditation exercises, coaching, therapy and medication. Its […]
Expanding behavioral health companies continue to face headaches from restrictive state certificate of need (CON) laws. The COVID-19 pandemic changed the approach many states take when regulating behavioral health facility development. In part, it amplified voices calling for CON reform as the pandemic revealed and worked the poor mental health of America. Most states — […]
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