MedOptions, Inc. of Old Lyme, Connecticut announced its acquisition of San Diego-based Vericare on May 2, 2016. Vericare provides geropsychology and geropsychiatry behavioral health services in skilled nursing facilities. It employs more than 400 licensed behavioral healthcare professionals in more than 600 facilities across eight states.
Similarly, MedOptions provides behavioral health services to residents of skilled nursing homes in Connecticut, Maryland, Massachusetts, New Jersey and Pennsylvania.
The two companies each provide a similar integrated behavioral care model to deliver services to a primarily geriatric population. The combined business will be the sole national provider of outsourced behavioral health services to long-term care facilities and will serve more than 180,000 beds across more than 1,500 facilities. HLM Venture Partners is the lead investor in Vericare and will become an investor in MedOptions as a result of the transaction. Financial terms were not disclosed.