‘The Era of Growth at All Costs Is Over’: Discovery, LifeStance, Summit BHC Reset M&A Strategies

Growth in the behavioral health industry may look very different in 2024 than it has over the past few boom years. Gone are the days of growth for growth’s sake. Today, providers are prioritizing targeted de novo gains and keeping their balance sheets cash-flow positive. Industry headwinds, including high rates and ongoing labor shortages, have […]

LifePoint Opens New JV Hospital Valley Springs; Summit BHC Launches 50-Bed Residential Facility

LifePoint opens new joint venture with Baystate Health  Behavioral health operator Lifepoint Health and nonprofit health system Baystate Health have opened a new joint venture Valley Springs Behavioral Health Hospital. LifePoint operates the Massachusetts-based facility, offering inpatient behavioral health services for teens and adults. It will include 150 private and semi-private rooms, as well as […]

Acadia Healthcare, Summit BHC Name New CIOs

Acadia Healthcare names Laura Groschen to the C-suite Laura Groschen is now the chief information officer for the largest pure-play behavioral health operator in the U.S. — Acadia Healthcare Co. Inc. (NASDAQ: ACHC). Groschen will report to CEO Chris Hunter. Her role is to advance the company’s digital transformation, according to a news release. She […]

Summit BHC Names Todd Wyatt CFO as It Continues Expansion Plans

Behavioral health provider Summit BHC has named Todd Wyatt its next chief financial officer.  This news comes at a time when Summit is quickly expanding. In January, the provider announced the acquisition of seven psychiatric hospitals in six states from Strategic Behavioral Health. This added an additional 613 inpatient psychiatric beds to its portfolio.  “Todd […]

PE-Backed Providers Eye Inpatient Mental Health Bed Shortages, Build New Psychiatric Hospitals

Inpatient psychiatric hospital companies are seeing market-specific opportunities to develop new facilities in the face of a decades-long national decline in psych beds. This new era is marked by growth-minded companies seeking to make the most of the massive demand for acute psychiatric services and other high-acuity services. For example, privately held Summit BHC (backed […]

Movers & Shakers: Summit BHC Adds SVP From BCBS; Headspace Health Sees Board Turnover

Discovery Behavioral Health hires chief medical officer Los Alamitos, California-based Discovery Behavioral Health hired Dr. Matthew Ruble, a psychiatrist, as its chief medical officer. He reports to the company CEO and President John Peloquin. Discovery Behavioral Health operates 130 mental health, substance use and eating disorder treatment centers in 13 states. Before joining the company, […]

Summit BHC Acquires 7 Psychiatric Hospitals From Strategic Behavioral Health, Moves Into New States

Summit Behavioral Healthcare announced Thursday that it acquired seven psychiatric hospitals in six states from Strategic Behavioral Health. The Franklin, Tennessee-based behavioral health and addiction treatment provider will add an additional national 613 inpatient psychiatric beds to its portfolio through the transaction. The newly acquired facilities treat children, adults and elders and operates an unspecified […]

2021’s Largest Mergers and Acquisitions

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 […]

Patient Square Capital to Purchase Summit BHC for Over $1 Billion

Approximately a month after news surfaced that Summit BHC was up for sale, a deal to buy the substance use disorder (SUD) treatment provider has been reached. Patient Square Capital, a Menlo Park, California-based health care investment firm, has agreed to buy Summit from FFL Partners and Lee Equity Partners. Terms of the deal, which […]

Lee Equity, FFL Partners Reportedly Exploring Sale of Summit BHC

The behavioral health and substance use disorder (SUD) treatment provider Summit BHC is reportedly up for auction. The private equity firms Lee Equity Partners and FFL Partners — which own controlling stakes in the Franklin, Tennessee-based company — are currently searching for a buyer, sources told PE Hub in a story published Thursday. Global investment […]