Deal-making in the mental health and substance use disorder market is declining, according to a report from Provident Healthcare Partners.
Investment & Transactions
Headway, a digital health startup that works to connect patients with therapists, raised $125 million in series C financing.
Providence, R.I.-based Care New England has started construction of a 25-bed short-stay unit at Butler Hospital.
Hackensack Meridian Health has expanded and begun operating an 81-bed behavioral health unit at Raritan Bay Medical Center in Perth Amboy, N.J.
Franklin, Tenn.-based Acadia Healthcare reported net income of $71.2 million in the second quarter of 2023.
Advertisement
Behavioral health care startup NeuroFlow has acquired Capital Solution Design, parent company of Behavioral Health Lab and BHL Touch, a technology infrastructure provider for the Department of Veterans Affairs.
The Heart of Texas Behavioral Health Network, based in Waco, Texas, received a $750,000 two-year grant from the Episcopal Health Foundation, a nonprofit organization based in Houston, according to a June 26 report from the Waco Tribune-Herald.
The investment arm of health insurance company Cigna co-led a $52 million series C funding round for Octave, a behavioral health company offering both in-person and virtual care.
Health plan Univera Healthcare awarded a grant to Jamestown, N.Y.-based UPMC Chautauqua to expand its behavioral telehealth services, The Post-Journal reported May 30.
Rising costs and ongoing staff shortages have led many behavioral health facilities and units to close up shop, creating or exacerbating care deserts.