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Business Briefs: ARC Health, Relationship Therapy Center, Eleanor Health, Spring Health, Moda Health, Mindful Care, Kyros
ARC Health Acquires Relationship Therapy Center in Minnesota
ARC Health, a Beachwood, Ohio-based operator of a network of mental healthcare practices, announced it has acquired the Relationship Therapy Center (RTC), a provider of couples therapy services in suburban Minneapolis, Minnesota.
RTC employs a staff of 30 therapists who specialize in relationship counseling. The center provides both couples and individual therapy. The organization also operates an in-house fellowship program focused on couples therapy.
With its acquisition of RTC, ARC Health, a Thurston Group portfolio company formed in 2021, now operates a network of more than 300 providers through its partner locations nationwide.
Eleanor Health Expands Into Texas
Eleanor Health, an outpatient addiction and mental health treatment provider built on value- and population-based payment models, announced this week that it has opened a clinic in San Antonio, Texas, the company’s first program in the state. The facility opening increases Eleanor Health’s network to 31 clinics across 7 states.
Eleanor will offer in-person care at the San Antonio location and virtual care across Texas. The clinic offers care to address physical, mental, and emotional aspects of recovery, including medication-assisted treatment, psychiatry, individual and group therapy, peer recovery coaching, and nurse care management.
Spring Health Enters Partnership With Moda Health
Spring Health, a global mental health solution for employers and health plans, announced that it has entered into an agreement with Moda Health to deliver measurement-based mental healthcare to select employer groups through Moda’s Behavioral Health 360 platform. The deal expands Spring Health’s offering into the payer and health plan market, as well as its move into the value-based care space.
Moda is a regional health plan for employers in Idaho, Alaska, Texas, Oregon, and Washington state. Spring Health will deliver mental health benefits to more than 100,000 Moda members and their dependents at least 6 years of age.
Mindful Care Closes Series B Funding Round
Mindful Care, a provider of psychiatric care, as well as group and individual therapy services, announced it has closed a $7 million oversubscribed Series B funding round. The company said in a news release that it will use the funds raised to expand into the Midwest and Southeast, launch individual therapy and addiction treatment programs, and develop technology to improve its clinical outcomes and patient satisfaction rates.
The Series B funding round was composed of the company’s entire Series A syndicate, which was led by Sopris Capital, along with the University of Chicago, the Caruso Foundation, Venkon Group, and others.
Kyros Raises $2.4 Million in Seed Funding
Kyros, developer of a digital platform for addiction recovery services, announced this week that it has raised an additional $2.4 million in seed funding. The round was led by Rally Ventures, with strategic angel investors also participating. Kyros said in a news release that it will use the funds it has raised to advance its tech platform, expand coverage, and add to its staff of 40 employees.
Founded in 2021, Kyros helps individuals in recovery access a network of providers and support organizations to meet their treatment needs. The company also offers support for organizations and specialists who help patients manage their recovery by handling administrative services, including billing and assistance with insurance claims.
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