Buyer: Community Psychiatry Management
Seller: MindPath Care Centers
Sector: Behavioral Health, Mental Health
The San Francisco-based behavioral healthcare company Community Psychiatry Management, LLC is expanding its footprint. The company last week announced the acquisition of MindPath Care Centers, which provides medication management and individual therapy both in-office and via telehealth, addiction recovery services, group therapy sessions and transcranial magnetic stimulation therapy at more than 25 locations in the Carolinas.
The merger of the two companies expands the reach of each organization, more than doubling the number of mental health care provider locations to 70 offices and bringing the combined number of clinicians to more than 325.
Community Psychiatry Management is backed by Centerbridge Partners, which acquired the firm back in December 2020 from New Harbor Capital. This is the first deal since Community Psychiatry Management and Centerbridge partnered up. The last deal Community Psychiatry Management announced was back in September 2019 for two California mental health companies, Calabasas Behavioral Health (CBH) and Gelbert and Associates. CBH provides psychiatry and transcranial magnetic stimulation services in the San Fernando Valley and Ventura County. Gelbert provides a variety of outpatient psychiatry and psychotherapy services in the South Bay region of Los Angeles.
The M&A market for healthcare companies continues to strengthen in 2021 and ahead of the projected increases in US capital gains taxes. There is unprecedented capital in market, the lowest interest rates in US history and strong acquirer motivations for high quality healthcare companies. Across the continuum of care, buyers and investors are looking for well established, profitable businesses and offering strong valuations and options for management.
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