24% of Health Care CFOs Plan to Divest Their Behavioral Health Operations

Amid the pandemic, the health care industry at large seems to finally recognize the importance of behavioral health care. But not everyone is sold on providing those services.  In fact, nearly a quarter of health care CFOs say their organizations plan to get out of the behavioral health game, according to a recent report from […]

Transactions: BayMark Company Buys OTP Provider; Community Psychiatry’s Latest Acquisition

Community Psychiatry purchases Harbor Psychologist Community Psychiatry — an growing outpatient behavioral health provider — has announced acquisition of Harbor Psychologist, Inc — which provides a range of psychiatric and psychological services to children and adults. Terms of the deal were not disclosed. Headquartered in Sacramento, Community Psychiatry provides a variety of virtual and in-person […]

How Behavioral Providers Can Revamp Recruitment, Retention to Ease Workforce Shortages

Behavioral health providers lament the problem all the time: There just aren’t enough workers to keep up with the growing demand for services. Low reimbursement rates and slim operating margins are a big part of the problem because they hinder providers’ ability to pay competitive wages. The consensus among providers is that higher reimbursement rates […]

Amid Brookdale Home Health Deal, HCA Healthcare Shows Interest in Behavioral Opportunities

HCA Healthcare (NYSE: HCA) — a publicly traded health system with national scale — could be in the market for behavioral health assets.  Headquartered in Nashville, HCA operates more than 2,000 care sites across 21 states and the United Kingdom. Those locations include surgery centers, freestanding ERs, urgent care centers, diagnostic and imaging centers, walk-in […]

Seaside Leverages Home-Based Medicaid Model, Sets Sights on Five-Fold Growth

Seaside Healthcare may not be one of the most well-known names in the behavioral health space, but the company is hard at work establishing a national presence for itself.  Founded in 2009, the Shreveport, Louisiana-based company’s roots go back several years and are intertwined with Hurricane Katrina. That’s when Franklin Roemer, who had been living […]

Pear Therapeutics Scores $20M

Pear Therapeutics, a manufacturer of digital therapeutics for conditions such as addiction, has raised $20 million in a Series D funding round. Boston-based Pear announced the news Monday. The announcement comes after the company completed an initial Series D funding round in December, raising $80 million. An undisclosed investor, which Pear referred to in a […]

Hazelden Betty Ford Names First Non-White CEO, Aims to Improve Organizational Diversity

Hazelden Betty Ford Foundation — the nation’s largest nonprofit substance use disorder (SUD) treatment provider — has named its first non-white president and CEO. Joseph Lee, a 45-year-old, South Korean-born doctor, has been promoted into the position and this summer will take over for current leader Mark G. Mishek, who is retiring after 13 years […]

Employee Wellness Unicorn BetterUp Raises $125M to Expand Behavioral Coaching

BetterUp, a virtual coaching and counseling platform for employees and businesses, has raised $125 million in a Series D funding round, bringing the company’s valuation up to $1.73 billion. Funding for the latest round — which the San Francisco-based wellness unicorn announced Thursday — was led by ICONIQ Growth. Lightspeed Venture Partners, Plus Capital and […]