SUD Providers Could Face Financial Failure in 2021, Industry Executives Predict

The COVID-19 emergency has only exacerbated the nation’s substance use disorder (SUD) crisis, which was already a national emergency in and of itself. Amid the coronavirus, overdose deaths have spiked, with the nation seeing about a 10% increase in fatalities in the first three months of the year, according to the Centers for Disease Control […]

Movers & Shakers: Ocean Recovery Hires New COO; Odyssey Behavioral Healthcare’s Executive Changeups

Ocean Recovery adds new COO Ocean Recovery — a Newport Beach, California-based addiction and eating disorder treatment center — has hired a new COO. Cade Saurage stepped into the role this November. He has more than 19 years of industry experience. Before becoming COO of Ocean Recovery, Saurage spent eight years serving as the director […]

Spero Health, Cordant Health Solutions Make Naloxone Part of MAT with New Initiative

Spero Health and Cordant Health Solutions have teamed up to make the overdose-reversing drug naloxone, also known as Narcan, a normal part of medication-assisted treatment (MAT). The initiative is already showing promising results, the companies announced in a press release. Headquartered in the Nashville area, Spero Health is one of the nation’s largest office-based opioid […]

Pear Therapeutics Scores $80M in Latest Funding Round

Pear Therapeutics has raised $80 million in Series D funding, the digital therapeutics provider announced Tuesday. The new financing adds on to the $134 million in funding the company has already raised.  SoftBank’s Vision Fund 2 led the latest funding round, with additional participation from new and existing investors. New participants include Forth Management, Pilot […]

Pipeline: Caravel Plants Flag in New State; Avenues Recovery Adds Ninth Residential Facility

Caravel Autism Health expands into new state Caravel Autism Health is adding its first location in the state of Iowa. The new autism therapy center is set to open in Davenport later this month.  Backed by the private equity and venture capital firm Frazier Healthcare Partners, Caravel is a Midwestern autism services provider that specializes […]

Tufts Health Plan Pioneers New In-Home SUD Treatment Option

Tufts Health Plan has rolled out a “pioneering” new in-home substance use disorder (SUD) treatment option for certain clinically eligible commercial members. The coverage will be available through a pilot in Massachusetts, where no other insurers are covering such home-based SUD treatments, according to a press release announcing the news.  Tufts is teaming up with […]

Transactions: BayMark’s Latest Acquisition; Pharos Capital’s Platform Grows Autism Footprint

BayMark acquires Limestone Health BayMark Health Services, one of the nation’s largest medication-assisted treatment (MAT) companies, has acquired Limestone Health, an Indiana-based opioid treatment provider (OTP). Financial terms of the deal were not disclosed. Headquartered in Lewisville, Texas, BayMark is a private equity-backed provider of MAT services for opioid use disorder (OUD). Owned by Webster […]

Pipeline: Spero Health Adds 16th Location of 2020; Monte Nido Expands in Georgia

Spero Health continues aggressive 2020 growth trajectory Spero Health has opened a new addiction treatment clinic in Hopkinsville, Kentucky. It’s the 16th new facility the Nashville-based company has added so far this year.  Spero Health is one of the largest office-based opioid treatment providers (OTPs) in the country, with more than 45 clinics across Kentucky, […]

RCA Sees 300% Patient Growth, Continues Its Expansion Across U.S.

For many behavioral health organizations, the coronavirus has increased costs while decreasing revenues. Social distancing protocols have made things especially difficult for residential providers, forcing many to reduce their censuses, even amid heightened demand for services. But for Recovery Centers of America (RCA) — a private equity-backed substance use disorder (SUD) treatment provider — the […]

OTPs Face Telehealth Challenges Amid COVID-19, OIG Says

Many opioid treatment programs (OTPs) have struggled with technical problems in using telehealth amid the COVID-19 emergency. But despite that, the vast majority of OTPs indicate that technology has helped them improve access to treatment amid the coronavirus.  That’s according to a new report from the Department of Health and Human Services (HHS) Office of […]