Investment & Transactions

The United Health Foundation formed a three-year, $2 million partnership with Rainbow Health to expand mental healthcare among LGBTQ residents and people of color in Minnesota.

Chicago-based behavioral health provider Wellington Counseling Group has been acquired by Arc Health. 

Virtual mental healthcare provider Mantra Health secured $5 million in a Series A investment round led by VMG partners.

Here are five mental health startups that raised a total of more than $42 million, as reported by Becker's since March 8:

Florida plans to grant $21 million toward an initiative to reframe mental health education with a focus on resilience. 

The East Central Mental Health Region's governing board in Iowa has decided to allocate $2.9 million in funding to two county mental health facilities, The Gazette reported March 23. 

Gaines Township, Mich.-based Pine Rest Christian Mental Health Services has acquired Grand Rapids, Mich.-based Cherry Health's employee assistance program contracts, MLive reported March 22. 

Though merger and acquisition deals were down in 2022, activity is expected to rebound this year, according to VMG Health's 2023 mergers and acquisitions report, released March 21. 

Advanced Health Network and Recovery Health Solutions, two affiliated behavioral health independent physician associations, have partnered with Unite Us, a healthcare software company. 

Danville, Pa.-based Geisinger Health System is partnering with Franklin, Tenn.-based Acadia Healthcare and the Sisters of Saints Cyril and Methodius congregation to build an inpatient behavioral hospital in Mahoning Township, Pa., pending approval of the final land purchase.