Spero Health expands in Ohio Spero Health has opened two new outpatient substance use disorder (SUD) treatment clinics in Ohio. The new clinics in Lima and Marion further bolster the provider’s network of more than 40 Spero Health locations across Kentucky, Ohio, Tennessee, Indiana and Virginia. Headquartered in Nashville, Spero Health is privately held by […]
Category: Finance
Acadia Healthcare (Nasdaq: ACHC) is preparing to relaunch the sale of its United Kingdom business, the company announced Tuesday. Franklin, Tennessee-based Acadia is a behavioral health provider that operates nearly 600 facilities across the US, the UK and Puerto Rico. The company first announced it would sell its UK business, which includes about 360 facilities, […]
The Crotched Mountain Foundation announced the news back in June: After 67 years, it would be closing its school for children and young adults with autism and other disabilities. Crotched Mountain CEO Ned Olney attributed the “excruciating decision” to the financial pressures of COVID-19, which caused enrollment at the Crotched Mountain School to drop off […]
Universal Health Services (NYSE: UHS) has opened its latest behavioral health facility. Canyon Creek Behavioral Health — a 102-bed psychiatric hospital in Temple, Texas — will start serving adults this fall. From there, it will continue to phase in additional units and service offerings through 2021, when it will become fully operational. Eventually, the facility […]
Like most behavioral health providers, Hopebridge Autism Therapy Centers expected 2020 to pan out differently. The coronavirus threw a wrench in many of the Indianapolis-based company’s plans, forcing it to scale back its growth goals and temporarily close all of its locations. On a more positive, equally unexpected note, 2020 also prompted Hopebridge to roll […]
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 — […]
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 […]
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