Behavioral health provider Mindpath Health has made another big acquisition.
The company announced Tuesday it has acquired Acacia Counseling and Wellness. Acacia has seven locations — six in California, including one in Davis, and one in Minneapolis, and has more than 125 providers, which include therapists and psychiatrists.
Acacia was founded in 2014 by two counselors at the University of California Santa Barbara. It provides therapy, psychiatry and telehealth counseling to college students.
“Research shows that up to three-quarters of college students have experienced heightened stress and anxiety the past two years and many have developed life-altering mental health conditions, such as depression and anxiety as a result,” said Mindpath Health CEO Christopher Brengard, in a statement. “Our acquisition of Acacia Counseling and Wellness will increase access to affordable, quality mental health care for college communities nationwide to help transform their world through better overall health and wellness.”
The value of the acquisition was not disclosed.
As part of the acquisition, Acacia’s executive team, including co-founders Keith Higginbotham and Brett Donnelly, will join Mindpath.
“We wanted to expand our services in order to serve university students nationally,” said Higginbotham, in a statement. “Mindpath Health shares the same mission and long-term goals and we look forward to continuing our work with university students as part of the Mindpath Health team.”
In the announcement, Mindpath Health also listed its company headquarters as being in Denver. The company was previously based in Sacramento.
The company, which was founded in Sacramento as Community Psychiatry Management, was acquired by private equity firms Centerbridge Partners LP and Leonard Green & Partners in 2020.
The new owners installed a new executive team, who set out to build the company into a national platform. Its strategy has included a number of large acquisitions, including merging with Durham, North Carolina-based MindPath Care Centers in 2021.
In an email, Mindpath spokesperson Allie Gavan said that Denver is a central location to support the national organization, but that its operations in Sacramento and North Carolina will remain.
Mindpath now operates in eight states, an has more than 650 providers and 100 locations.
‘This too shall pass away’ this famous Persian adage seems to be defeating us again and again in the case of COVID-19. Despite every effort