Behavioral Health
Mental health clinics, substance abuse treatment, and counseling
What PE Ownership Means for This Industry
DOJ settlements exceeding $200M
PE-owned psychiatric facilities investigated for holding patients against their will
NYT investigations and DOJ actions revealed PE-backed behavioral health companies holding patients against their will, falsifying diagnoses, and billing insurance for unnecessary treatment.
Source: New York Times, DOJ, 2024
PE-Owned Brands
Acadia Healthcare
Owned by KKR (Kohlberg Kravis Roberts)
Largest standalone behavioral health company with 250+ facilities. NYT investigation revealed patient safety concerns
9 locations tracked
Refresh Mental Health
Owned by Lee Equity Partners
Lee Equity Partners-backed outpatient mental health platform with 300+ locations
5 locations tracked
Summit BHC
PE-backed behavioral health company operating treatment centers across the US
7 locations tracked
Universal Health Services (UHS)
Operates 400+ behavioral health and hospital facilities. DOJ settlements for holding patients unnecessarily
9 locations tracked