SUD Care Optimization Platform axialHealthcare Raises $15M

A care optimization platform that helps patients, providers and health plans navigate substance use disorder (SUD) has raised $15 million in Series C funding. The money will be used to accelerate axialHealthcare’s expansion into the SUD treatment and recovery sector, according to a press release announcing the news. Oak HC/FT, .406 Ventures, BlueCross BlueShield Venture […]

Sabra CEO Interested in Institutional Behavioral Opportunities, Not ‘Fancy Malibu Retreats’

Behavioral health deals could represent a large opportunity for Sabra Health Care REIT (Nasdaq: SBRA) in the future, according to CEO Rick Matros. Irvine, California-based Sabra is a real estate investment trust (REIT) with a portfolio of 429 properties across the United States and Canada. It has historically specialized in senior housing, skilled nursing and […]

Movers & Shakers: CEO Changes at Promises, Children’s Harbor; NABH Adds Policy Director

Promises chairman named interim CEO Rob Waggener, the chairman of Nashville, Tennessee-based mental health and SUD treatment provider Promises Behavioral Health, has been named the company’s interim CEO. Waggener will retain his chair post as he temporarily takes the helm of Promises, which operates 10 facilities in Florida, Massachusetts, Pennsylvania, Texas and its home state […]

Discovery Behavioral Health Sets Sights on Complementary Deals, Two New States

Last year was a busy one for transactions in the addiction treatment services market, with few in the industry as active as Discovery Behavioral Health (DBH), a portfolio company of Webster Equity Partners. Based in Los Alamitos, California, DBH is led by CEO John Peloquin, who helped strengthen the company’s already firm market foothold in […]

Movers & Shakers: Odyssey Behavioral Healthcare Hires COO; Promises Behavioral Health’s New Marketing Chief

Odyssey Behavioral Healthcare names new president, COO Brentwood, Tennessee-based Odyssey Behavioral Healthcare, which provides a variety of treatment services at centers in seven states, has named Richard Clark as president and COO. Clark has more than 30 years of experience in health care, most recently serving as president of the Western Group for Franklin, Tennessee-based […]

Digital Substance Abuse Treatment Startups Captivate Investors, Payers

In America today, the need for more substance use disorder (SUD) interventions is clear. In 2017, more than 70,000 people died from drug overdoses, and the alcohol-related death rate was twice what it was 20 years earlier. Those statistics don’t include nearly 20 million others who did not die but still battled SUD that year. […]

Behavioral Health Leaders Urge Congress to Expand CCBHC Medicaid Demonstration

Dozens of behavioral health organizations are urging Congress to expand the Certified Community Behavioral Health Clinic (CCBHC) Medicaid demonstration, which is set to expire May 22. In a letter released Tuesday, 60 stakeholders asked lawmakers to extend the demonstration for the eight states currently participating and expand the program to nearly a dozen more states. […]

UHS Behavioral Health President ‘Willing to Lead Differently,’ Set New Collaboration Standard

As 2020 kicks off, so does the beginning of Matt Peterson’s first full calendar year with Universal Health Services (NYSE: UHS). Peterson joined the hospital management behemoth last September, when he was named president of the company’s behavioral health division and executive vice president of UHS as a whole. With a background in finance, managed […]

Boulder Care Announces $10.5M in Series A Funding

Boulder Care, a digital startup that coordinates treatment services for individuals struggling with opioid use disorder (OUD), has announced $10.5 million in Series A funding. In a blog post last week on Medium, Boulder co-founder and CEO Stephanie Papes announced the funding and that the company has enlisted Greycroft Partners and Tusk Ventures to provide […]