Image by Free-Photos from Pixabay | CC0
Image by Free-Photos from Pixabay | CC0
Outpatient mental health and autism treatment providers make up most of the behavioral health operators that appear on the latest Inc. 5000 list of the nation’s fastest-growing companies.
Seventeen of the 23 behavioral health operators featured on the list of the nation’s fastest-growing companies were outpatient mental health and autism treatment providers, according to a review by Behavioral Health Business.
Many of the autism services providers on the Inc. 5000 are among the largest in the nation.
For example, autism providers The Stepping Stones Group and Action Behavior Centers, which both made the list, are two of the largest operators in that space.
The Stepping Stones Group group has also been acquisitive. It operates in 32 states, according to its website. In July, The Stepping Stones Group announced it would acquire the Center for Behavioral, Educational and Social Therapies (CBEST) for an undisclosed sum. In June, it announced it would acquire HM Therapy.
Action Behavior Centers has been a sales target itself. Last week, Axios Pro reported that Charlesbank Capital Partners won out in an auction for the Austin-based Applied Behavior Analysis (ABA) therapy provider in a deal with NexPhase Capital LP that valued Action at $840 million. Action lists 142 open and to-be-opened centers in Texas, Colorado, Illinois, North Carolina and Arizona on its website.
Behavioral health operators have faced a favorable growth market following the onset of the coronavirus. In elevated demand for behavioral health services. At the same time, it emphasized the supply and demand imbalance within behavioral health.
The Lancet published a study that found 53.2 million new instances of depression and 76.2 million new case anxiety disorders popped during the pandemic.
Investors were activated by the leap in demand. M&A activity jumped by 33% as investments in digital behavioral health jumped to $59.3 billion in 2021. Youth mental health especially inspires wide government response at the state and federal levels.
The business publication Inc. ranks U.S.-based private companies by revenue growth percentages from 2018 to 2021 for companies founded and generating revenue by March 31, 2018. The minimum revenue required for 2018 is $100,000; the minimum for 2021 is $2 million, according to the Inc. 5000 website.
Here’s the list of the behavioral health operators, where they are based, their rank, revenue growth percentage and their description on the list. Find the full list here.
Integrative Psychiatry Institute — Longmont, Colorado
Behavior Nation — Danville, California
Action Behavior Centers — Austin, Texas
Forge Health — White Plains, New York
Stepping Stones Behavioral Solutions — Indianapolis
Ellie Mental Health — Mendota Heights, Minnesota
SMILE Therapy Services — District of Columbia
Behavioral Framework — Rockville, Maryland
Cityscape Counseling — Chicago
evolvedMD — Scottsdale, Arizona
CARE Counseling — St. Louis Park, Minnesota
Chicago Pediatric Therapy & Wellness Center — Chicago
The Stepping Stones Group — Boston
CuraLinc — Chicago
Chenal Family Therapy PLC — Little Rock, Arkansas
Proven Behavior Solution — Norwell, Massachusetts
Center for Family Dynamics — Alameda, California
Sela Health — Provo, Utah
Abound Health Group — Charlotte, North Carolina
Transformations Care Network — Taunton, Masschusetts
The Juniper Center Counseling & Therapy — Park Ridge, Illinois
Iris Telehealth — Austin, Texas
Quince Orchard Psychotherapy — Rockville, Maryland
Abound Health Group, Action Behavior Centers, Behavior Nation, Behavioral Framework, CARE Counseling, Center for Family Dynamics, Chenal Family Therapy PLC, Chicago Pediatric Therapy & Wellness Center, Cityscape Counseling, CuraLinc, evolvedMD, Forge Health, Integrative Psychiatry Institute, Iris Telehealth, Proven Behavior Solution, Quince Orchard Psychotherapy, Sela Health, SMILE Therapy Services, Stepping Stones Behavioral Solutions, The Juniper Center Counseling & Therapy, Transformations Care Network
Chris Larson is a reporter for Behavioral Health Business. He holds a bachelor’s degree in communications from Brigham Young University and has been covering the health care sector since December 2016. He is based in the Louisville metro area. When not at work, he enjoys spending time with his wife and two kids, cooking/baking and reading sci-fi and fantasy novels.
March 16, 2023 • Washington, D.C.
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