Behavioral healthcare M&A activity climbed in 2025, and transactions in 2026 suggest continuing activity across the sector.
Deal volume rose more than 42% in 2025 with 104 publicly announced transactions, compared to 73 in 2024 and 83 in 2023.
Here are 13 transactions to know in 2026:
- Red Bank, N.J.-based PAX Health acquired Ho-Ho-Kus, N.J.-based Makraf IME, a statewide psychology and neuropsychology independent medical examination (IME) provider group operating across 17 counties. Makraf IME provides independent medical examination opinions on causality, need for treatment, maximum medical improvement, permanency and fitness for duty. The practice also provides psychology and neuropsychology IMEs, disability evaluations, permanency evaluations and fitness-for-duty evaluations.
- Tulsa, Okla.-based Family and Children’s Services and Oklahoma City-based Hope Community Services completed their merger. The combined organization forms a $208 million behavioral health system with nearly 1,800 employees providing more than 70 programs across 12 locations and more than 30 co-located sites.
- Lewiston, Maine-based Common Ties Mental Health Services merged with Sweetser, a Maine-based nonprofit behavioral health organization, as smaller providers face growing operational and financial pressures. The merger creates the largest certified community behavioral health clinic in Maine and aims to expand behavioral health services in Androscoggin County.
- Curio FZ, a behavioral health company focused on clinical care, digital therapeutics and care navigation, acquired Nora Mental Health, a multi-state network of community-based mental health clinics. Founded in 2018, Nora provides therapy and medication management services through in-person and telehealth visits.
- Asheville, N.C.-based Vaya Health and Gastonia, N.C.-based Partners Health Management will consolidate to form Vaya Partners, effective Oct. 1, 2026, creating what the organizations said will be North Carolina’s largest publicly governed behavioral health organization. The combined organization will serve more than 222,000 members across 47 counties and focus on care for individuals with mental health conditions, substance use disorders, intellectual and developmental disabilities, and traumatic brain injuries.
- The American Foundation for Suicide Prevention and the Jed Foundation plan to consolidate into a single organization, with the transaction expected to be complete this fall. The combined nonprofit will focus on suicide prevention across youth and adult populations, integrating the AFSP’s national chapter network, research investment and policy work with JED’s youth-focused mental health programs.
- Hamilton, Ohio-based Primary Health Solutions plans to acquire Moraine, Ohio-based South Community Behavioral Health in a deal expected to close in July, pending regulatory approval. The transaction aims to expand access to behavioral health services and strengthen integrated, community-based care across the Greater Miami Valley region.
- Waterbury, Conn.-based Wellmore and Hartford, Conn.-based the Village for Families and Children plan to merge operations in the coming months, pending approval from boards and stakeholders. Both nonprofit organizations offer mental and behavioral healthcare, including programs for school readiness, early childhood education, home-based counseling, substance use prevention and recovery, and crisis care.
- Farmington, Conn.-based UConn Health plans to acquire and integrate Middletown, Conn.-based Solnit Hospital into a satellite location of UConn John Dempsey Hospital in Farmington. Solnit Hospital is a children and adolescent psychiatric facility. The integration will expand UConn Health’s behavioral health services through its academic medical center.
- King of Prussia, Pa.-based Universal Health Services acquired Talkspace, an online behavioral healthcare provider. The acquisition aims to expand access and offer flexible solutions to address increasing demand for behavioral healthcare services. The transaction is expected to close in the third quarter of 2026.
- Wheeling, W.Va-based Orchard Park Hospital signed a letter of intent to merge with Morgantown, W.Va.-based WVU Medicine Wheeling Hospital. Orchard Park, a 30-bed inpatient pediatric psychiatric hospital, will work with WVU Medicine Golisano Children’s and the WVU Rockefeller Neuroscience Institute to continue providing pediatric and adolescent mental healthcare services.
- Concord, Calif.-based Center for Social Dynamics acquired Alamogordo, N.M.-based Behavior Change Institute to expand access to autism and behavioral health services, and accelerate development of new treatment models that blend in-person, virtual and immersive technologies.
- Frisco, Texas-based Magellan Health entered into an agreement to be acquired by Madison Health Group. The transaction will allow Magellan to operate as an independent managed behavioral healthcare company, the investment group said. Magellan was acquired by Centene in January 2021 in a deal valued at the time at $2.2 billion.
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