In Mental Health Play, Anthem To Buy Beacon Health Options: Forbes

In Mental Health Play, Anthem To Buy Beacon Health Options

www.forbes.com

Anthem will buy behavioral health services firm Beacon Health Options for an undisclosed sum from Bain Capital Private Equity and Diamond Castle Holdings.

Anthem said it will buy Beacon Health Options, adding a national network of behavioral health services as the health insurer looks to manage care of the “whole person.”

Anthem didn’t disclose a price it is paying Bain Capital Private Equity and Diamond Castle Holdings for Beacon Health, which is privately held. The acquisition is expected to close in the fourth quarter of this year.  

Beacon manages mental health, substance abuse and other behavioral health services to more than 36 million people across the U.S., “including nearly 3 million individuals under comprehensive risk-based behavioral programs.” Anthem, which owns Blue Cross and Blue Shield plans in 14 states, already has more than 40 million members in its health plans.

The deal is significant because it’s further acknowledgement by health insurers that managing medical care isn’t enough to make sure patients are getting the right care, in the right place and at the right time. Insurers increasingly are working to address social determinants of their customers outside of traditional medical care and an estimated one in five American adults suffers from mental illness, according to the National Institute of Mental Health.

“As Anthem works to improve lives, simplify healthcare and serve as an innovative and valuable partner, we’re focused on providing solutions that address the needs of the whole person,” Anthem president and chief executive Gail Boudreaux said.

“With an extensive track record in behavioral health, Beacon fits well with our strategy to better manage the needs of populations with chronic and complex conditions, and deliver integrated whole health solutions,” Boudreaux said. “Together with Beacon, we will enhance our capabilities to serve state partners, health plans and employer groups as they seek to address consumer behavioral health needs.”

--------------- 

 

Anthem acquires behavioral health company Beacon Health Options

Beacon Health serves more than 40 million individuals across the country, including 3 million patients in" risk-based behavioral programs."

by Kevin Truong  MidCityNews   June 6, 2019

 

Reflecting a growing focus on the area of behavioral health, Indianapolis-based insurer Anthem has purchased behavioral health organization Beacon Health Options from Bain Capital Private Equity and Diamond Castle Holdings.

The acquisition of Boston-based Beacon Health, which is expected to close in the fourth quarter of 2019, is part of Anthem’s larger effort to grow its business in care delivery and health services for chronic and complex conditions.

Financial details of the deal were not disclosed.

“With an extensive track record in behavioral health, Beacon fits well with our strategy to better manage the needs of populations with chronic and complex conditions, and deliver integrated whole health solutions. Together with Beacon, we will enhance our capabilities to serve state partners, health plans and employer groups as they seek to address consumer behavioral health needs,” Anthem CEO Gail Boudreaux said in a statement.

Beacon Health serves more than 40 million individuals across the country, including 3 million patients in” risk-based behavioral programs.” The company’s 260 clients include large Fortune 500 companies, health plans and state and local governments.

Among the services provided by Beacon Health are substance use disorder management, employee assistance programs and specialty programs for autism and depression.

Beacon Health CEO Russell Petrella and other top executives will join Anthem under the company’s diversified business group.

“Our member-focused, integrated clinical care model helps individuals and their families cope with their physical and behavioral health challenges. Together, we will expand access and enhance the quality of care for our mutual members. I am proud of the talented and committed team at Beacon, and we look forward to our future with Anthem,” Petrella said in a statement.

 

 https://medcitynews.com/2019/06/anthem-acquires-behavioral-health-company-beacon-health-options/