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.
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SOURCE PAX Health