PAX Health Emerges as a Leading Force in Behavioral Health with the Strategic Acquisitions of Three Leading North-East-Based Companies
RED BANK, N.J., March 12, 2024 /PRNewswire/ -- PAX Health, a pioneering behavioral health company, proudly announces its recent acquisition of three prominent foundational organizations: Behavioral Medicine Associates (BMA), Workers Comp Psych Net (WCPN), and Reservoir Health (Reservoir). These strategic acquisitions position PAX Health as a comprehensive provider in the behavioral health sector, combining the strengths and expertise of these premier companies to deliver innovative solutions for mental health and well-being.
The acquisitions, led by HCAP Partners, with a co-investment by funds managed by Hamilton Lane (Nasdaq: HLNE), signifies a significant milestone in PAX Health's mission to revolutionize behavioral healthcare. The support from these renowned investors empowers PAX Health to expand its reach, enhance service offerings, and drive positive change within the industry.
PAX Health is dedicated to addressing the complex challenges of mental health by integrating the best practices and resources from the acquired companies. With a commitment to excellence, PAX Health aims to provide tailored solutions for individuals, businesses, and communities seeking comprehensive behavioral health services.
"We are thrilled to announce the acquisition of BMA, WCPN, and Reservoir. This strategic move allows us to bring together the collective knowledge and experience of these founding companies to create a more robust, scalable, and impactful organization. We are grateful for the support and partnership of HCAP Partners and Hamilton Lane, which enables us to accelerate our vision of transforming the landscape of behavioral health," said Anthony DeSena, CEO and Co-Founder of PAX Health.
"Pax Health was launched by combining three of the most preeminent existing behavioral health providers to improve mental health services and enable our clinical staff to focus on our patients. Pax Health believes in a better life for our patients, their families, and our providers" said Roy Leitstein, President and Co-Founder of Pax Health.
Our lead investor, HCAP Partners, known for its strategic investments in high-growth companies in the healthcare sector, along with co-investor Hamilton Lane, a global private markets investment management firm, express confidence in PAX Health's potential to drive positive change in the behavioral health sector.
"We are excited to support PAX Health as they integrate telehealth and in-person delivery systems to bring value-based care to the broader healthcare system," says Tim Bubnack, Managing Partner at HCAP. "Their commitment to advancing health equity is perfectly aligned with HCAP's Impact thesis to support and uplift underserved populations. We're looking forward to bolstering their growth and helping them expand access to mental health support across the care continuum."
"Hamilton Lane is thrilled to support PAX's vision. The growing behavioral and mental health needs in our country today require innovative solutions like PAX. This investment is a great example of how private capital can partner with strong management teams to deliver important, impactful services and drive improved health outcomes," said David Helgerson, Head of Impact Investments at Hamilton Lane.
As PAX Health embarks on this transformative journey, the company maintains its focus on fostering a positive impact on the mental health and well-being of individuals and communities.
About PAX Health:
PAX Health is a leading behavioral health company dedicated to providing innovative and comprehensive solutions for mental health and well-being. By combining the strengths of legacy companies Behavioral Medicine Associates, Workers Comp Psych Net, and Reservoir Health, PAX Health aims to revolutionize the behavioral health sector and drive positive change. For more information, visit https://www.paxhealth.net/.
About HCAP Partners:
HCAP Partners is a diversely owned private equity firm specializing in providing mezzanine debt and private equity for underserved, lower-middle market companies throughout California and the Western United States. The firm seeks to invest $3 million to $25 million in established businesses generating between $10 million and $100 million in revenues in the healthcare, software, services, and manufacturing industries. HCAP Partners has invested in over 60 companies since its founding and through ongoing, active engagement with portfolio companies provides value-added resources to help optimize performance and increase enterprise value. The firm has been an ImpactAssets 50 fund since 2014 and, through its Gainful Jobs Approach™, works to facilitate a positive impact on underserved businesses, their employees, and their communities through active portfolio engagement. For more information, please visit http://www.hcap.com/.
About Hamilton Lane:
Hamilton Lane is a global private markets investment management firm that provides innovative solutions to sophisticated investors around the world. With deep industry expertise, the firm seeks to create lasting value for its clients, enabling them to achieve their investment goals. For more information, visit https://www.hamiltonlane.com/en-us.
SOURCE PAX Health
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