Investment & Transactions

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.

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.

Snohomish County in Washington is investing $8 million into five projects to expand substance use and mental health treatment capacity, the Lynnwood Times reported May 22.

Here are six investments into mental healthcare reported by Becker's since May 15:

Wauwatosa, Wis.-based Froedtert Health closed the behavioral health unit at its Menomonee Falls hospital, the Milwaukee Business Journal reported May 19.