Modern Health Raises $51M for Employer Mental Health Platform

Modern Health — a mental health and wellness platform — has raised $51 million in Series C funding. The investment brings the company’s total funding raised up to more than $95 million and pushes its valuation past $500 million, according to a press release announcing the news.  Battery Ventures led the funding round, with additional […]

AAC Completes Financial Restructuring

Six months after filing Chapter 11 bankruptcy, American Addiction Centers (AAC) has completed its financial restructuring process, the company announced Monday.  During that time, AAC reduced its debt by about $500 million, setting the provider up for its “next phase of growth.” The ultimate goal is to continue serving people suffering from substance use disorder […]

SUD Providers Could Face Financial Failure in 2021, Industry Executives Predict

The COVID-19 emergency has only exacerbated the nation’s substance use disorder (SUD) crisis, which was already a national emergency in and of itself. Amid the coronavirus, overdose deaths have spiked, with the nation seeing about a 10% increase in fatalities in the first three months of the year, according to the Centers for Disease Control […]

Mental Health Software Startup Blueprint Raises $3.4M

Blueprint — a software startup designed to help mental health clinicians — has raised $3.4 million in seed funding. The new financing brings the company’s total funding raised up to $4.7 million.  Based in Chicago, Blueprint is a technology company whose goal is to help mental health clinicians make informed treatment decisions using measurement-based care. […]

Pear Therapeutics Scores $80M in Latest Funding Round

Pear Therapeutics has raised $80 million in Series D funding, the digital therapeutics provider announced Tuesday. The new financing adds on to the $134 million in funding the company has already raised.  SoftBank’s Vision Fund 2 led the latest funding round, with additional participation from new and existing investors. New participants include Forth Management, Pilot […]

Pipeline: Caravel Plants Flag in New State; Avenues Recovery Adds Ninth Residential Facility

Caravel Autism Health expands into new state Caravel Autism Health is adding its first location in the state of Iowa. The new autism therapy center is set to open in Davenport later this month.  Backed by the private equity and venture capital firm Frazier Healthcare Partners, Caravel is a Midwestern autism services provider that specializes […]

Transactions: BayMark’s Latest Acquisition; Pharos Capital’s Platform Grows Autism Footprint

BayMark acquires Limestone Health BayMark Health Services, one of the nation’s largest medication-assisted treatment (MAT) companies, has acquired Limestone Health, an Indiana-based opioid treatment provider (OTP). Financial terms of the deal were not disclosed. Headquartered in Lewisville, Texas, BayMark is a private equity-backed provider of MAT services for opioid use disorder (OUD). Owned by Webster […]

Pipeline: Spero Health Adds 16th Location of 2020; Monte Nido Expands in Georgia

Spero Health continues aggressive 2020 growth trajectory Spero Health has opened a new addiction treatment clinic in Hopkinsville, Kentucky. It’s the 16th new facility the Nashville-based company has added so far this year.  Spero Health is one of the largest office-based opioid treatment providers (OTPs) in the country, with more than 45 clinics across Kentucky, […]

RCA Sees 300% Patient Growth, Continues Its Expansion Across U.S.

For many behavioral health organizations, the coronavirus has increased costs while decreasing revenues. Social distancing protocols have made things especially difficult for residential providers, forcing many to reduce their censuses, even amid heightened demand for services. But for Recovery Centers of America (RCA) — a private equity-backed substance use disorder (SUD) treatment provider — the […]