Centene Corporation (NYSE: CNC) — a managed care organization (MCO) — has entered into a definitive agreement to buy Magellan Health (Nasdaq: MGLN) — an MCO and provider of behavioral health services. The goal of the $2.2 billion deal is to bolster Centene’s behavioral health offerings. The transaction, which is expected to close in the […]
President Donald Trump has signed a $2.3 trillion stimulus bill into law. Signed Dec. 27, the legislation includes billions in behavioral health funding. The relief package includes an additional $4.25 billion in funding for the Substance Abuse and Mental Health Services Administration (SAMHSA) on top of regular fiscal year 2021 spending. That funding will be […]
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 […]
Acadia Healthcare (Nasdaq: ACHC) has entered into a definitive agreement to sell its United Kingdom business, the company announced Dec. 30. Waterland Private Equity has agreed to purchase the assets for about 1,078 million pounds, or $1.47 billion. The deal will generate approximately $1.35 billion in proceeds for the behavioral health behemoth, according to a […]
Congress has passed a new $2.3 trillion stimulus bill, which includes billions in funding for behavioral health programs and initiatives. The legislation, which passed Monday night, is now headed to President Donald Trump, who is expected to sign it into law. The new relief package includes $4.25 billion in funding for the Substance Abuse and […]
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 […]
American Addiction Centers (AAC) has started a new chapter in the company’s history. After years of financial struggles and a Chapter 11 bankruptcy filing, the substance use disorder (SUD) treatment provider recently completed a financial reorganization. The restructuring has helped AAC reduce its debt load by about $500 million and position the company for its […]
Kindred enters JV to add new behavioral, rehabilitation hospital Kindred Healthcare has entered into a joint venture with Antelope Valley Hospital to build and operate a new hospital in northern Los Angeles County. The 125,000-square-foot facility will have 96 behavioral beds and 25 acute inpatient rehabilitation beds. Headquartered in Louisville, Kentucky, Kindred is a specialty […]
Workit Health, a virtual rehab startup, has raised $12 million in Series B funding. That brings the telemedicine company’s total funding raised up to $20 million, according to the fundraising tracker website Crunchbase. FirstMark Capital led the investment round. Lux Capital, GingerBread Capital and Blue Cross and Blue Shield Venture Partners also participated, as did […]
The U.S. Department of Health and Human Services (HHS) has increased the amount of money it’s giving to health care organizations as part of its third phase of distributions from the Provider Relief Fund (PRF). It will send $24.5 billion to 70,000 providers, $4.5 billion more than the department originally planned to distribute in this […]