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Business Briefs: Acadia, SolutionHealth, Autism Behavioral Institute, NewYork-Presbyterian
Acadia, SolutionHealth to Build Behavioral Health Hospital
Acadia Healthcare has formed a joint venture with SolutionHealth, parent organization of Elliot Health System and Southern New Hampshire Health, to build a new behavioral health hospital in southeast New Hampshire.
The $60 million investment will have 144 beds and a full continuum of inpatient behavioral health programs. It will also be supported by $15 million in state funding from the New Hampshire Department of Health and Human Services to defray construction costs. The addition of the new facility will more than double the existing, combined inpatient capacity for Elliot Health System and Southern New Hampshire Health.
The addition of the new behavioral health hospital will expand the Acadia portfolio, which includes 250 behavioral healthcare facilities in 39 states and Puerto Rico, making the company the largest standalone behavioral health organization in the United States.
Autism Behavioral Institute Receives Investment
Autism Behavioral Institute (ABI), a provider of applied behavior analysis (ABA) therapy for children with autism, announced recently that it has secured an investment from Decathlon Capital Partners. Financial terms of the deal were not disclosed. ABI said in a news release that it will repay its investment from Decathalon through future revenues, adding that no equity or ownership was exchanged for the capital received.
ABI, which currently has operations in 5 states, said it will use the funding to expand into additional markets and increase its working capital to support adding new insurance payers.
NewYork-Presbyterian Receives $35 Million Gift to Expand
NewYork-Presbyterian announced on Thursday that it has received a $35 million gift from the Steven & Alexandra Cohen Foundation to expand its behavioral health services for children and adolescents. NewYork-Presbyterian is an integrated academic healthcare system encompassing 10 hospitals across the Greater New York area, nearly 200 primary and specialty care clinics and medical groups, and telemedicine services.
The organization said funds will be used to expand child and adolescent inpatient units and create an ambulatory behavioral health center at its NewYork-Presbyterian Westchester Behavioral Health facility in White Plains, New York. Telepsychiatry services will also be expanded, and programs will be developed to increase awareness and access to youth mental healthcare and resources.
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