Chicago-based private equity firm Madison Dearborn Partners LLC will acquire a 25% stake in Boston-based Sevita Health, according to a report from Axios Pro. If the deal goes through Madison Dearborn Partners will join New York City-based Centerbridge Partners LP and Chicago-based Vistria Group LP as investors. Sevita, formerly The Mentor Network, provides community-based and in-home care services for people with intellectual and developmental disabilities (I/DD). Axios Pro reports that Madison Dearborn Partners’ investment comes with a $3 billion valuation for Sevita and the company reportedly had $300 million of EBITDA in 2021.
A series of consumer surveys and interviews conducted by McKinsey finds Gen Zers reporting the least positive life outlook, including lower levels of emotional and social well-being than older generations.
The U.S. Department of Health and Human Services (HHS), the nation’s top health care regulator, will tackle three major initiatives within the behavioral health space in 2022 as the Biden administration enters its second year. The agency holds up increasing access, promoting equity, tackling the COVID-19 pandemic and enhancing the priorities of children and families as key rhetorical points at the heart of the many specific objectives for 2022. Behavioral health is key to those objectives, according to a regulatory priorities document published by HHS.
Lyra Health, the leading provider of innovative Workforce Mental Health solutions for employers, today announced it has acquired ICAS World, a global employee assistance program provider with a network of care professionals who offer localized support for people in more than 155 countries and 66 languages. With this acquisition, Lyra and ICAS are setting a new standard for global mental health care. Companies around the world will now have a single source for innovative, evidence-based, culturally responsive mental health benefits for employees and their families.
Novamind Inc. (CSE:NM)(OTCQB:NVMDF)(FSE:HN2) (“Novamind” or the “Company”), a leading mental health company specialized in psychedelic medicine, announces that, further to its press release dated December 23, 2021, it has closed its acquisition (the “Acquisition”) of Arizona-based Foundations for Change, Inc. (“Foundations”), a mental health practice specialized in ketamine-assisted psychotherapy. “We’re thrilled to welcome the team from Foundations,” commented Novamind CEO and Director, Yaron Conforti. “The Acquisition is an exciting opportunity for Novamind to expand the reach of our clinic network, bringing our model for innovative mental healthcare to a new market in Arizona.”
AtlantiCare signed a letter of intent with John Brooks Recovery Center for AtlantiCare to acquire and become the parent company of JBRC, allowing it to enhance care for the growing population in need of substance use disorder and other behavioral health services, according to a Tuesday announcement from the Egg Harbor-based health care system. Pending the signing of a definitive agreement and attaining regulatory approvals, AtlantiCare and JBRC expect to complete the transaction in early 2022. JBRC provides clinically driven treatment options through two outpatient centers and one residential treatment facility.
New Directions Behavioral Health (“New Directions”), a provider of comprehensive behavioral health solutions, announced Friday its acquisition of Tridiuum, a digital behavioral health company. This combination creates a leading provider of technology-enabled behavioral health services, empowering New Directions’ dedicated care teams to supply its more than 15 million members nationally with more direct and immediate access to providers resulting in increased quality of care through measurement-based outcomes. Tridiuum accelerates patient access to the most appropriate care by automating behavioral health screening, triaging, matching and online scheduling through its easy-to-use system that can be seamlessly integrated with existing platforms.
Rethink First, one of the pioneers in behavioral health technology, announced today that it has acquired Total Therapy (previously known as Total ABA), a leading provider of practice management software solutions serving the ABA, speech, occupational, and physical therapy markets. Total Therapy is Rethink First’s fifth acquisition since partnering with K1 Investment Management, a leading investment firm focused on high-growth enterprise software companies. Total Therapy, launched in 2013, is the only therapy solution built on the Salesforce.com platform, offering multi-disciplinary providers a fully integrated system including practice management, data collection, and billing options. Total Therapy now serves nearly 10,000 clinicians and some of the largest behavioral health providers in the country, processing over 2 million billing transactions per year.
The year 2021 was defined by the many struggles that organizations had largely foisted on them directly or indirectly by the ups and downs of the coronavirus pandemic. But many providers learned how to adapt to the new normal and began to tackle the even bigger challenges that a changing industry leveled on behavioral health operators. Here are just a few of the issues that industry executives told Behavioral Health Business will define the new year — making the focus on improved outcomes a reality; figuring out which tech solutions work best for their organization; and bridging the gap between telehealth and in-person care.
Here are some of the federal regulations to be proposed or finalized in 2022 that will have the potential to remove barriers to initiating and continuing behavioral health treatment and to sharing necessary health information for whole-person healthcare.
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