Psychiatric hospitals are buckling under decades of financial pressure that increased following the onset of the pandemic. Discriminatory regulations, challenging payer relations and inflation have placed several psychiatric hospitals in untenable positions. A spate of facility closures in 2023 demonstrates that the pressure is proving too much. Industry insiders say that systemic changes can’t come […]
Nagging workforce issues may scuttle Universal Health Services Inc.’s (NYSE: UHS) financial projections for 2022. The company’s financial forecasts predicted that the massive increase in labor costs would begin to abate in 2022: It has not. Increased spending on wages for staffing agency workers, driven by COVID-19 and a prevailing workforce shortage, stymied both revenues […]
Here are some of the biggest mergers and acquisitions in the behavioral health industry over the last year. Ginger and Headspace Finalize Merger, Creating $3B Behavioral Health Platform The newly-combined Headspace Health brings together Ginger’s therapy, counseling, and coaching services with Headspace’s mindfulness and meditation offerings. The company will serve more than 100 million customers […]
Frist Cressey Ventures — a venture capital fund co-founded by former U.S. Senate Majority Leader Bill Frist — has big plans in behavioral health. With current investments in substance use disorder (SUD) treatment and telebehavioral health, the firm is looking to dive deeper into the space and help propel a new wave of behavioral businesses […]
Vertava Health acquires Integrated Addiction Care Associates Vertava Health has announced it has purchased outpatient behavioral health provider Integrated Addiction Care Associates (IAC), in a move that brings together two Tennessee operators. Financial terms of the deal were not disclosed. IAC offers medication-assisted treatment (MAT), intensive outpatient programs (IOP) and primary care services to residents […]
Meadows hires executive director of virtual outpatient Phoenix-based Meadows Behavioral Healthcare has hired Mark Baumgartner as its executive director of virtual outpatient services. Before coming to Meadows, Baumgartner spent most of his career at the Betty Ford Center, which is part of the Hazelden Betty Ford Foundation. He worked there almost two decades, serving his […]
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 […]
Opened Pyramid Healthcare opens second Georgia facility Pyramid Family Behavioral Healthcare has opened a new center in the Atlanta suburb of Sandy Springs, Georgia. The program provides intensive outpatient and partial hospitalization treatment services to adults and adolescents. Pyramid Family Behavioral Healthcare also offers treatment services in a second Atlanta suburb in Johns Creek. Its […]
Coming soon Montana children’s hospital opens behavioral health clinic Helena, Montana-based Shodair Children’s Hospital is opening a new mental health clinic in February in Missoula. The new clinic is located at the Community Medical Center. A staff of roughly 10 will work at the facility, which will primarily offer telepsychiatry services, according to The Missoulian. […]
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