Hopebridge announces six new centers Hopebridge Autism Therapy Centers will open six new locations in the Denver, Colorado area, starting in October. All of the autism therapy centers will be open by February 2021. Indianapolis-based Hopebridge — which is backed by Arsenal Capital Partners, a private equity (PE) firm based in New York City — […]
Category: Finance
Every year, about $8.3 billion is wasted on unnecessary emergency department (ED) visits. The majority of that — $4.6 billion — is attributable to ED use for behavioral health conditions. On top of being expensive, EDs can’t always treat mental illnesses and substance use disorders (SUD) properly. However, patients are often forced to seek care […]
Construction starts on $357 million psych hospital Crews have started construction on a $357 million psychiatric facility in Texas, according to the San Antonio Express-News. The site, which will have 300 beds and private rooms for all patients, will eventually serve as a replacement for the San Antonio State Hospital. It’s expected to open in […]
Nearly 40% of behavioral health organizations say they can only survive six months or less given the current financial situation they are facing. At the same time, more than half of all providers have seen an increased demand for services since the pandemic hit. Those are just a few key takeaways from the National Council […]
Kindred Healthcare is leveraging its reputation as a leading specialty hospital company to fuel the growth of its relatively new behavioral health business. Founded last year, Kindred Behavioral Health (KBH) is already on its way to becoming an industry leader in inpatient care. It has about 190 beds in its portfolio to-date and is coming […]
Destination Hope — an addiction treatment provider in Fort Lauderdale, Florida — has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of Florida. The company submitted the voluntary petition August 28, citing the coronavirus and other issues as the impetus. Founded in 2007, Destination Hope provides substance use disorder […]
Cultivate Behavioral Health and Education acquires Progressive Behavioral Science Cultivate Behavioral Health and Education, a portfolio company of the private equity firm Imperial Capital, has acquired Progressive Behavioral Science, according to a press release from Livingstone, who advised Progressive on the transaction. Financial terms were not released. Both Cultivate and Progressive provide applied behavioral analysis […]
The last five months have been hard for behavioral health providers to weather, with many being forced to cut back services as a result of COVID-19-related financial strain. Some are even facing the risk of closure. Then there’s Pinnacle Treatment Centers, which has actually been expanding. Pinnacle is one of the largest substance use disorder […]
Acadia, Covenant Health break ground on new behavioral hospital Acadia Healthcare (Nasdaq: ACHC) and Covenant Health have officially started construction on their newest inpatient behavioral health hospital, East Tennessee Behavioral Health. Franklin, Tennessee-based Acadia is a behavioral health provider that operates nearly 600 behavioral health facilities across the U.S., the U.K. and Puerto Rico. Meanwhile, […]
Recovery Centers of America (RCA) — a private equity-backed substance use disorder (SUD) treatment provider based in the Northeast — has opened its first Midwestern location. The new facility in suburban Chicago started accepting patients Tuesday. The organization plans to expand its presence in the heartland even further later this year. Based in St. Charles, […]