Banyan Treatment Centers Taps New CEO to Lead Its Next Growth Phase

Banyan Treatment Centers’ new CEO, John Sory, is tasked with leading the organization through its next growth phase.  Sory succeeds Joe Tuttle, the founder of the Pompano Beach, Florida-based addiction treatment provider. Tuttle will step into a board director role after a transition period. Sory takes on the CEO role, effective July 17. Sory’s appointment […]

TPG Capital Makes ‘Significant Investment’ in Banyan Treatment Centers

Private equity firm TPG Capital has made a “significant investment” in mental health and substance use disorder (SUD) provider Banyan Treatment Centers. The terms of the deal were not disclosed. Banyan Treatment Centers has over 20 facilities across Massachusetts, Pennsylvania, Delaware, Illinois, Florida, Texas, California and Alaska. Its services include detox, residential, partial hospitalization, intensive […]

Rise of Outpatient Services, More Patient Demand Driving Big Investments in Behavioral Health

The volume of outpatient health care services has climbed for decades, as more Americans need assistance for a variety of concerns, including those pertaining to behavioral wellness. And as factors like value-based care payments have correlated with a rise in outpatient behavioral health assistance, C-suite leaders and investors are taking note. Indeed, outpatient behavioral health […]

LifeStance Makes IPO Debut, Reaches Valuation of Nearly $7.9B

LifeStance Health Group (Nasdaq: LFST), which less than a month ago announced its intention to go public, officially opened for trading Thursday, closing its first day at $21.90 per share. The debut of the Scottsdale, Arizona-based outpatient mental health provider on the Nasdaq was positive, as its stock price rose from its initial public offering […]

Will SPACs Become a Trend Among Behavioral Health Startups?

More than 400 companies across various industries held initial public offerings (IPOs) last year, the most since 2000, even amid the pandemic-led economic downturn. At the same time, many businesses chose to go public by merging with a special purpose acquisition company (SPAC), a maneuver that has gradually gained traction among startups, including the subscription-based […]

Movers & Shakers: LifeStance Fills New C-Suite Role; Ashley Addiction Treatment Hires VP of Engagement

LifeStance Health creates, fills new C-Suite position LifeStance Health, a private equity-backed outpatient behavioral health provider, has named Felicia Gorcyca as its first chief people officer. Gorcyca comes to LifeStance Health from TPG Capital — a Dallas-based private equity company that backs LifeStance alongside Summit Partners and Silversmith Capital Partners — where she was an […]

Behavioral Health Deal Values Up 900% Quarter-Over-Quarter

Behavioral health care deal values spiked 900% in the second quarter of 2020 compared to Q1, with one huge private equity deal — and the coronavirus — leading the charge. The sector could continue to see a trend of higher valuations going forward.  That’s according to a recent report by PricewaterhouseCoopers’ (PwC) Health Research Institute. […]

Behavioral Health Care Deals Down 35% in Q3 2019

Behavioral health care acquisitions were down 35% in the third quarter of 2019. The drop reflects both month-over-month and year-over-year changes. Q3 2019 saw only 17 publicly announced deals, while Q2 2019 and Q3 2018 each saw 26 deals. That’s according to acquisition data from, which part of Irving Levin Associates, a publisher of […]