Mental Health America of Roanoke Valley has closed after more than 70 years in business, according to The Roanoke Times. It ceased operations on Oct. 31. The Virginia organization did advocacy for people with mental illnesses, in addition to offering mental health services such as free psychiatric clinic, mental health training for police officers and […]
Category: Finance
Four behavioral health providers in Arkansas have announced plans to merge and form one integrated behavioral health system. Financial terms of the deal were not disclosed. The new non-profit, Arisa Health, will be headquartered in Springdale and have 49 locations in 41 counties in the northern half of the state. Counseling Associates, Mid-South Health Systems, […]
HonorHealth and Universal Health Services, Inc. (NYSE: UHS) have signed an agreement to open a new behavioral health hospital in the greater Phoenix area. Financial terms of the deal were not disclosed. HonorHealth is a nonprofit health system serving about 1.6 million people in and around Phoenix. It has five acute-care hospitals, multiple outpatient surgery […]
The opioid epidemic cost the U.S. an estimated $696 billion in 2018 alone — and more than $2.5 trillion total from 2015 to 2018, according to new estimates from the White House Council of Economic Advisers (CEA). The White House released those numbers last week, demonstrating the continued importance of substance abuse treatment facilities nationwide. […]
Although Sabra Health Care REIT (Nasdaq: SBRA) only made its first investment in the addiction treatment sector in the third quarter of 2019, company leaders are optimistic they’ll dive deeper into the space in the future. “We’re working on some other opportunities there as well,” Sabra CEO Rick Matros told investors Thursday on the company’s […]
The New York Stock Exchange has started the process to delist AAC Holdings, Inc. (NYSE: AAC), the parent company of American Addiction Centers. The news comes after the NYSE suspended trading on the stock just a few days earlier. Both moves are a consequence of AAC falling below the NYSE’s continued listing standard. It requires […]
A psychiatric hospital in southeast Florida serving low-income and uninsured patients abruptly shut its doors earlier this month, according to The Palm Beach Post. The move potentially leaves hundreds of patients without access to care. The West Palm Beach-based Jerome Golden Center for Behavioral Health closed Oct. 18 following financial troubles — specifically a bankruptcy […]
Nashville-based Qualifacts, an electronic health record provider for behavioral health and human service organizations, has changed hands. New York-based Warburg Pincus, a global private equity firm focused on growth investing, purchased the company from Boston-based middle market PE firm Great Hill Partners last month. Financial terms of the deal were not disclosed. The deal is […]
Community Psychiatry Management has made two acquisitions in the Los Angeles area to deepen its already massive footprint in the state of California. The Sacramento, California-based mental health organization added both Calabasas Behavioral Health (CBH) and Gelbart and Associates in August. Financial terms of the deals were not disclosed. Community Psychiatry Management is the largest […]
Los Angeles-based Discovery Behavioral Health has acquired Pasadena, Maryland-based New Life Addiction Counseling & Mental Health Services. Financial terms of the deal were not disclosed. Discovery Behavioral Health is a national provider of substance abuse, mental health and eating disorder treatment. The 21-year-old company offers residential, partial hospitalization and intensive outpatient services for teenagers and […]
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