Investment & Transactions

Allentown, Pa.-based Lehigh Valley Health Network and King of Prussia-based Universal Health Services are joining forces on a $61 million behavioral health hospital in Hanover Township, Pa., the Philadelphia Business Journal reported Feb. 13.

King of Prussia, Pa.-based Universal Health Services is building a 96-bed joint venture psychiatric hospital with Livonia, Mich.-based Trinity Health, MLive reported Feb. 22.

Texas Children's Hospital and The Menninger Clinic, both based in Houston, are partnering to bolster inpatient care for youth experiencing a behavioral health crisis, Texas Children's said Feb. 22.

California governor Gavin Newsom plans to allocate $907 million for a new initiative to provide housing for homeless individuals with severe behavioral health issues. 

Children's Home of Northern Kentucky in Covington, a behavioral health facility, has been gifted $150,000 on behalf of the city of Independence, Ky., Link NKY reported Feb. 21. 

Michigan state leaders are granting $7.9 million in federal funds toward behavioral health, crisis programs and combating gun violence, CBS affiliate News Channel 3 reported Feb. 21. 

Health insurance provider Elevance Health — through its philanthropic arm, the Elevance Health Foundation — added $1.6 million in additional grants to its support program for organizations working to address maternal and child healthcare needs. 

CHRIS 180, a social services organization based in Atlanta, is one of five recipients in Georgia to receive a grant from the Substance Abuse and Mental Health Services Administration.

Maven, a multispeciality digital healthcare company geared toward women and families, raised $90 million via private equity deals in the fourth quarter of 2022, the largest of any virtual mental health provider, according to a report published by business intelligence…

The department of family medicine at the University of Buffalo (N.Y.) Jacobs School of Medicine and Biomedical Sciences has received a federal grant to assist in the training of primary care residents in mental and behavioral healthcare.