Payers are adding benefits around substance abuse treatment in an effort to retain employees, as well as interrupt members’ costly visits to the emergency rooms, said Dr. Vikram Bakhru, a practicing physician at the University of California at San Francisco’s Medical Center and chief medical officer at Medicaid managed-care startup Circulo. Relaxation of state laws around the types of drugs that can be prescribed via telehealth, as well as federal rules around payment parity for video visits have also driven growth for these startups, Bakhru said.
Puget Technologies, Inc. (OTC Pink: PUGE) (“Puget”), a publicly held Nevada corporation announces that it has entered into two additional letters of intent to acquire companies in the healthcare industry. The first, Florida Behavioral Center, Inc. (dba “Florida Healthcare System” and referred to as “FHS”), organized in 2015 and based in Doral, Florida, is a healthcare organization that provides mental health services. The second, Glades Medical Centers of Florida LLC (“GMC of Florida”), a Florida limited liability company, focuses on preventive primary care as well as diagnosis and treatment of illnesses and minor injuries.
Monte Nido & Affiliates, one of the nation’s most established and premier eating disorder treatment providers, announces its completion of the acquisition of Waltham, MA-based Walden Behavioral Care. This expands Monte Nido & Affiliates’ footprint, with Walden Behavioral Care joining Monte Nido, Rosewood Centers for Eating Disorders, Clementine Programs and Oliver-Pyatt Centers as the fifth Monte Nido Affiliate. Founded in 2003, Walden Behavioral Care is an industry pioneer, offering inpatient, residential, partial hospitalization and intensive outpatient programs in MA, CT and GA for eating disorders and related psychiatric treatment. Monte Nido & Affiliates is a portfolio company of Levine Leichtman Capital Partners.
Summit BHC (“Summit” or “the Company”), a leading provider of behavioral health and addiction treatment services, today announced the signing of a definitive agreement under which Patient Square Capital (“Patient Square”) will acquire Summit from FFL Partners (“FFL”) and Lee Equity Partners (“Lee Equity”). Founded in 2013 and headquartered in Franklin, Tennessee, Summit provides substance use disorder and acute psychiatric care at 24 facilities across 16 states. Across its network of facilities, the Company covers a comprehensive continuum of care including acute inpatient care, detoxification programs and residential and outpatient services.
Wesana Health Holdings Inc. (“Wesana” or the “Company”) (CSE: WESA; OTCQB: WSNAF), an emerging data driven life sciences company focused on developing innovative approaches for better understanding, protecting and improving neurological health and performance, including through the advancement of psychedelic medicines, today announced the closing on September 8, 2021 of its acquisition of Psychedelitech Inc., also known as PsyTech (the “Transaction”).
Bradford Health Services, the Southeast’s largest provider of addiction treatment programs, today announced the acquisition of Cornerstone of Recovery, a Tennessee-based substance use disorder treatment provider. Bradford Health Services is backed by Centre Partners, a leading middle-market private equity firm focused on the consumer and healthcare sectors. Founded in 1989, Cornerstone of Recovery is one of the largest providers of drug and alcohol recovery programs in Tennessee. The company operates two Knoxville-area inpatient facilities, Cornerstone of Recovery and Stepping Stone to Recovery, offering a full spectrum of clinical treatment options for people recovering from addiction.
Beacon Health Options has a new leader at its helm, and he’s brought a lofty set of goals with him. The managed behavioral health care organization tapped Glenn MacFarlane to step into the president position in June. In his new position, MacFarlane said he’s focused on finalizing Beacon’s integration with Anthem, expanding its relationship with big name partners such as Walmart and linking “all [the company’s] spend … to some sort of value-based arrangement.” Behavioral Health Business recently connected with MacFarlane to discuss all that and more.
K Health, which ranked No. 11 on this year’s CNBC Disruptor 50 list, has looked to advance the telehealth space through AI and machine learning. Using the combination of symptoms and personal information from a patient alongside the knowledge and experience of thousands of doctors and their clinical insights, it provides a possible diagnosis along with additional resources to provide help for whatever is ailing the patient. K Health CEO and co-founder Allon Bloch recently spoke with CNBC about the trends in telehealth, how doctors are being impacted by the increase in virtual visits, and why the company is focusing on increasing its mental health offerings.
The Columbus Organization, a nationally recognized pioneer in care coordination services, today announced the acquisition of Shift New Jersey, a support coordination, transition assessment, and job/college support agency with close to a decade of experience in the state. With this acquisition, The Columbus Organization’s team of 58 Support Coordinators, Supervisors, and Directors will now serve over 1,600 individuals, making it the leading Support Coordination agency in New Jersey.
Emergency facilities dedicated to mental-health patients are sprouting up across the U.S. to handle psychological trauma exacerbated by the Covid-19 pandemic. Some new facilities dedicated to mental health act like urgent-care centers, allowing people to receive services without appointments. Others receive patients brought in by police and other first responders, who otherwise often have little choice but to drop those experiencing mental-health crises at emergency rooms or jail.
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