The CCBHC Opportunity, Driving Revenue and Exploring AI: COO Carol Bean Shares Centerstone’s Strategic Vision

This is an exclusive BHB+ story Nonprofit behavioral health provider Centerstone has elevated its chief financial officer to the role of chief operating officer. New COO Carol Bean is planning to be “bold” to accelerate Centerstone’s growth and seeks to double the company’s revenue. Specifically, she aims to spur the company’s certified community behavioral health […]

Employers Reap $190 for Every $100 Invested in Behavioral Health

Employers are increasingly seeking out behavioral health benefits to improve employee care and save on long-term health costs. Providers have, in turn, stepped up to expand employer offerings. These employer offerings have meaningful returns, according to new research published in JAMA Network Open. Researchers found that employers saved $190 in overall medical claims cost for […]

New Partnership Propels Lyra Past Employer Models, Jump-Starts Rogers’ Virtual Care Capabilities

Not-for-profit behavioral health care provider Rogers Behavioral Health and for-profit workforce mental health provider Lyra Health have forged an alliance. The collaboration, announced Tuesday, gives Lyra access to Rogers’ health plan networks while allowing Rogers to scale its virtual services using Lyra’s national footprint. For Rogers and Lyra executives, the most important aspect of the […]

Bicycle Health Reaches Profitability Milestone, Secures $16.5M for Sustainable Growth and M&A

Virtual opioid use disorder (OUD) treatment provider Bicycle Health has achieved profitability after abandoning its “growth at all costs” mindset and streamlining its business model. The company is now set for long-term, disciplined growth, including acquiring other providers, founder and CEO Ankit Gupta told Addiction Treatment Business. Bicycle will use funds from a new $16.5 […]

Embark Behavioral Health Parts with 3 C-Suite Members to Shift Resources to its Programs

Youth behavioral health provider Embark Behavioral Health will part ways with three C-suite members at the end of the month — one of whom is the last co-founder still with the company. An internal memo written by Scott Filion, CEO of the Phoenix-based private equity-backed platform, obtained by Behavioral Health Business shows that Darren Wight […]

Iris Telehealth Rolls Out Layoffs Just After Acquiring innovaTel

Iris Telehealth laid off staffers just days after it announced the acquisition of a peer organization, innovaTel. On Thursday, social media posts showed that the layoffs impacted marketing and talent acquisition middle management roles. On Tuesday, the Austin, Texas-based business-to-business telepsychiatry provider announced it had acquired innovaTel, once part of the company Quartet Health.  “Iris […]

Eleos Closes $60M Series C Round, Plans to Enter SUD Treatment Market

Behavioral health technology company Eleos raised $60 million, bringing its total funding to over $120 million. Greenfield Partners led the Series C round with participation from F-Prime Capital, Eight Roads, Menlo Ventures, ION, Michael & Susan Dell Foundation, Union Tech Ventures and Centerstone. The company plans to use the cash infusion to expand its product […]

Rising Cannabis Use Disorder Cases Prompt Treatment Providers to Expand Services

This is an exclusive BHB+ story Experts warn that rates of cannabis use disorder (CUD) are increasing due to more favorable perceptions of the drug and higher concentrations. Providers already treating substance use disorders (SUDs) have the tools to treat CUD – a move that could increase care access and strengthen revenue streams. However, better […]

DarioHealth Raises $25.6M to Accelerate Path to Profitability

Digital health company DarioHealth (Nasdaq: DRIO) has raised $25.6 million through the private placement of convertible preferred stock. Dario, which offers behavioral health care, among other services, plans to use the funds to achieve its goal of being cash flow positive by the end of 2025, according to the company. “Today, we are happy to […]