Business Briefs: Bright Harbor Health, Monte Nido, Alma

Bright Harbor Announces Retirement of CEO

Bright Harbor Healthcare, a New Jersey-based provider of behavioral health, substance use, and integrated healthcare services, has announced the retirement of CEO James M. Cooney, LCSW. Cooney has served as the company’s top executive for nearly 13 years.

Under Cooney’s direction, Bright Harbor has expanded its service offerings to include pharmaceutical services, laboratory services, physical healthcare, transcranial magnetic stimulation, and a continuum of substance use disorder treatment services. The company became a certified community behavioral health clinic and launched the On POINT program, which embeds social workers within police departments.

Cooney’s successor as CEO will be selected by the Bright Harbor Healthcare board of directors.

Monte Nido Expanding Into New Jersey

Monte Nido & Affiliates announced that it will open a residential eating disorder center in Cherry Hill, New Jersey. The program will operate under Monte Nido’s Clementine brand and is slated to open in late 2022.

Clementine Cherry Hill will be Monte Nido’s first program in New Jersey, expanding the company’s geographic footprint into a 15th state. The new facility will provide services for adolescents of all genders with anorexia nervosa, bulimia nervosa, binge eating disorder, and/or exercise addiction.

Alma Raises $130 Million in Series D Funding

Alma, a membership-based network that helps independent mental healthcare providers accept insurance, announced a $130 million Series D funding round that was led by the software investment firm Thoma Bravo. Cigna Ventures, as well as existing investors Insight Partners, Optum Ventures, Tusk Venture Partners, Primary Venture Partners, and Sound Ventures also participated in the round. The company’s total funding is now more than $220 million.

Alma provides support and infrastructure to help facilitate smaller provider organizations’ ability to accept insurance. Member provider organizations also receive teletherapy software, automated billing and scheduling tools, and access to a clinician community that includes education and training opportunities, as well as events.

Alma’s network includes 8000 providers who are licensed to practice in all 50 states.

References

Bright Harbor Healthcare CEO announces retirement. News release. Bright Harbor Healthcare. Aug. 23, 2022. Accessed Aug. 23, 2022.

Monte Nido & Affiliates to open their first residential eating disorder program in Cherry Hill, NJ. News release. Monte Nido & Affiliates. Aug. 23, 2022. Accessed Aug. 23, 2022.

Alma Raises $130M in series d funding led by Thoma Bravo to advance its mission to simplify access to high quality, affordable mental health care. News release. Thoma Bravo. Aug. 25, 2022. Accessed Aug. 25, 2022.