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Business Briefs: Optum, Refresh Mental Health, Psych Associates, Comprehensive Behavioral Health, Lighthouse Behavioral Health Solutions
Optum, a subsidiary of UnitedHealth Group that provides pharmacy benefit management and healthcare services, has acquired Refresh Mental Health from the private equity group Kelso & Co., according to a report by Axios. Terms of the deal were not disclosed, however Kelso purchased Refresh at a valuation of approximately $700 million in December 2020, according to previous reports.
Refresh Mental Health was founded in 2017 and has a staff of more than 1,500 employees working at more than 300 locations in 37 states. Refresh offers treatment for mental health disorders, eating disorders, relationships, substance use disorders, and other addictions. Services are provided at residential, partial hospitalization, intensive outpatient, outpatient, and in-home care levels.
Psych Associates and Comprehensive Behavioral Health Announce Merger
Psych Associates of Maryland (PAM) and Comprehensive Behavioral Health (CBH) have announced a merger. The newly formed combined organization will operate as Bloom Health Centers and provide in-network, multidisciplinary mental health treatment services.
CBH’s service offerings include psychiatry, psychotherapy, transcranial magnetic stimulation, and esketamine therapy in outpatient and inpatient settings. PAM, meanwhile, has provided comprehensive behavioral health services to children, adolescents, adults, and the geriatric population.
As Bloom, the combined organization said in a news release announcing the merger that it plans to strengthen its ties with local and regional mental health hospitals and universities, which will include providing clinical training opportunities for students.
Amulet Capital Partners Recapitalizes Lighthouse Behavioral Health Solutions
Amulet Capital Partners, a middle market, healthcare-focused private equity firm, announced on Wednesday that it has recapitalized Lighthouse Behavioral Health Solutions, a Columbus, Ohio-based operator of a network of substance use disorder and mental health treatment facilities.
Founded in 2018, Lighthouse offers outpatient services and support resources with a portfolio of treatment facilities and peer support centers across Ohio. The provider also works with a network of community partners to promote access to care with clinical treatment.
Northborne Partners was exclusive financial advisor to Lighthouse in the recapitalization, and Sheppard, Mullin, Richter & Hampton provided legal counsel to Amulet.
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