Vitalic, a new senior-focused behavioral health provider, has hit the market with $4 million in seed funding. Payvider VNS Health and venture capital investment firm Redesign Health are the company’s first investors. Vitalic’s virtual care model focuses on geriatric psychiatry, including therapy, coaching and medication management. “Despite the fact that this population continues to grow, […]
Los Angeles-based Amae Health has raised another $6 million through a partnership with nonprofit academic health system Cedars-Sinai. The in-person, serious mental illness-focused startup will integrate electronic medical records with Cedars-Sinai as Amae Health care for patients with serious mental illness (SMI). This deal comes after a $15 million Series A funding round, announced in […]
Behavioral health providers are hungry for meaningful innovations in treatment modalities. A cutting-edge technique known as precision psychiatry could be an answer to fostering more timely and improved outcomes, experts told Behavioral Health Business. This practice, an application of the more general term precision medicine, requires significant data and technology investments, however, which could hamper […]
Limbic, raised $14 million in March to expand into the U.S. market. Now it has done so. The London-based mental health artificial intelligence (AI) company has clinched a partnership with the nonprofit behavioral health system Rogers Behavioral Health. Through the deal, Rogers Behavioral Health is changing its “front door” screening system from primarily phone-based to […]
Virtual pediatric behavioral health provider Fort Health is executing its partner-first, expand-after strategy, securing a round of funding while landing a new payer partnership. The New York City-based provider raised a $5.5 million round led by venture capital firms Twelve Below and Vanterra, Fort Health exclusively told Behavioral Health Business. The funds will be used […]
LifeStance Health (Nasdaq: LFST) is overhauling its facilities with a new operating model — one that it hopes will strengthen its position ahead of what executives expect to be a rocky 2025. The outpatient mental health giant’s executives project that federal reimbursement rate cuts will challenge the company’s financial progress. LifeStance is banking on momentum […]
Bad news at Acadia Healthcare (Nasdaq: ACHC) has translated into a real financial impact. The behavioral health behemoth experienced lower patient volume growth than expected in October, which company leadership attributed to bad press in its Q3 earnings call. Acadia expects the negative impact to be temporary, according to Heather Dixon, Acadia’s chief financial officer. […]
Universal Health Services (NYSE: UHS) is enjoying robust behavioral health pricing, driven by negotiations with lower-paying payers. Steve Filton, UHS’s chief financial officer, attributed historically high behavioral health pricing to the company’s ability to leverage higher rates from lower-paying payers, naming managed Medicaid payers specifically on the company’s Q3 earnings call Friday. “In an environment […]
MiraCare Group filed for bankruptcy protection after its fledgling psychiatric hospital project collapsed in the south suburban Chicagoland area. The development is representative of the challenges that psychiatric hospitals face. Despite desperate demand for these services, they are increasingly less viable enterprises, leading to disinvestment in many instances. The company, based in Palos Heights, Illinois, […]
Youth behavioral health residential treatment facilities could face more scrutiny following additional public pressure by a powerful federal lawmaker. On Wednesday, Senate Finance Committee Chair Ron Wyden (D-Oregon) publicly called on the U.S. Department of Justice (DOJ) to investigate four major behavioral health providers to determine if their youth residential treatment programs committed Medicaid fraud. […]
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