CloudMD Adds Behavioral Health Clinic Network
CloudMD Software & Services Inc. (OTCMKTS: DOCRF) has spent most of 2020 expanding its physical presence throughout North America, reaching into new markets. Last week, the company acquired Re:Function Health Group Inc., a leading rehabilitation clinic network, with 7 clinics and 35 behavioral health specialists and allied health professionals across British Columbia. CloudMD will pay $3.4 million through a mix of cash and shares, and a potential $1.15 million in performance-based earnouts. Re:Function Health generated $4.38 million in revenue in 2019. This acquisition represents a significant addition to the depth and spectrum of healthcare services provided by the CloudMD platform.... Read More »
Pinnacle Treatment Centers Adds HealthQwest
Pinnacle Treatment Centers and Linden Capital Partners, L.P. began their partnership in 2016, launching a national behavioral health platform in the years since. When Pinnacle Treatment Centers was acquired by Linden Capital, it served roughly 10,000 patients daily at approximately 30 facilities, according to Deal Search Online. In 2020, the company treats 31,000 patients daily in California, Indiana, Kentucky, New Jersey, Ohio, Pennsylvania and Virginia, with over 115 community-based locations. The company has grown organically, opening new locations and facilities, but also through acquisitions with the backing of Linden Capital. In April 2019, Pinnacle acquired three outpatient opioid... Read More »
IBH Population Health Expands With New Acquisition
IBH Population Health Solutions, a pioneer in managed behavioral health, integrated employee assistance programs (EAP) and services, announced a new acquisition this week. With the backing of Periscope Equity, the company added Claremont EAP for an undisclosed price, an agency that helps connect employees at transportation agencies, municipalities, labor groups, high tech firms, education, retail, and more with licensed mental health counselors. IBH Population Health is one of the U.S.’s leading population health management companies, providing EAP, managed behavioral health, wellness, data analytics, and opioid assessment and treatment solutions. The deal will significantly broaden... Read More »
WindRose Health Adds New Behavioral Health Platform
After a brief pause in the healthcare M&A market, WindRose Health Investors, LLC is back with a new investment. The private equity firm announced it acquired Caregiver Inc., a provider of behavioral services to adults with intellectual and developmental disabilities (IDD), for an undisclosed sum. It operates 800 properties in Texas, Tennessee, Indiana, and Ohio and employs 3,900 people. With WindRose’s investment, Caregiver will be able to expand into new markets across the United States and increase its market share within existing markets. WindRose purchased its stake from DW Healthcare Partners and Council Capital, who will both retain an ownership stake in the business going... Read More » Summit BHC Expands Into West Virginia
Private equity-backed Summit BHC has announced a new acquisition in West Virginia. The behavioral health treatment company added Highland Hospital to its network for an undisclosed sum. Meridian Behavioral Health Systems, LLC is selling Highland Hospital, an inpatient psychiatric facility (131 beds) with 24 beds dedicated to psychiatric residential treatment and 91 beds for inpatient acute psychiatric needs. The stalking horse bid was at a price of $10 million. Highland Hospital generated $3.29 million EBITDA and revenues of $27.million for 2018. Meridian acquired Highland Hospital in August 2017. The sale came from a bankruptcy auction. This deal is Summit BHC’s second in 2020,... Read More »