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December 18, 2019

Private Equity Investment in Behavioral Health Treatment Centers

Author Affiliations
  • 1Harvard Medical School, Boston, Massachusetts
  • 2Weill Cornell Medicine, New York, New York
JAMA Psychiatry. 2020;77(3):229-230. doi:10.1001/jamapsychiatry.2019.3880

The last decade has witnessed a rapid increase in private equity (PE) acquisitions of health care organizations.1 This phenomenon has been described in 3 recent articles.2-4 However, very little is known about PE investment in behavioral health5 despite substantial energy in this sphere. In 2016, PE transactions accounted for 60% of all sales in behavioral health care, and the 24 large behavioral health investments that year far exceeded the 11 such investments, at that time a record, made in 2013.6 This Viewpoint is intended to provide early insights into this phenomenon.

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