Averhealth, which is backed by Five Arrows Capital Partners, has acquired Burlington, Vermont-based Aspenti, a healthcare company. No financial terms were disclosed.
RICHMOND, Va., May 19, 2021 /PRNewswire/ — On May 17, 2021, Averhealth, a provider of substance use monitoring and treatment services tailored to the unique needs of courts and social service agencies, along with the support of Five Arrows Capital Partners, acquired Aspenti, a healthcare company located in Burlington, Vermont. Aspenti specializes in substance use monitoring and care coordination services for patients of physicians, treatment centers and healthcare systems.
“The acquisition of Aspenti broadens Averhealth’s referral base to include physicians, treatment centers and healthcare systems. Aspenti’s social mission of promoting positive change, improving well-being and creating a better world perfectly aligns with Averhealth’s mission of reclaiming lives, uniting families and strengthening communities. This is a perfect fit for us as we advance our goal of improving patient outcomes for those struggling with substance use disorder,” states Jason Herzog, CEO of Averhealth.
“With Averhealth acquiring Aspenti, it fosters long-term sustainable growth for our colleagues, patients and partners. Both companies are dedicated to delivering continuity of care and exemplary customer service that we both value. As a purpose driven company, Averhealth’s mission, vision, and values will foster and continue Aspenti’s work of being a steward of change in substance use management and the greater healthcare industry,” remarked Chris Powell, CEO of Aspenti.
“This acquisition supports the management team’s long-term growth strategy for the Averhealth business. Averhealth will provide its innovative and differentiated marketplace solutions to Aspenti’s expansive customer base of physicians, treatment centers and healthcare systems,” stated Ari Benacerraf, Partner of Five Arrows Capital Partners. “This transaction expands Averhealth’s ability to reach more individuals with substance use disorder and provide them the tools they need to achieve recovery,” added Michael Langer, Partner of Five Arrows Capital Partners.
Since 1995, Averhealth has specialized in providing substance use monitoring services tailored to the unique needs of judicial programs that operate at the holistic intersection of justice-involved and behavioral health. Today, Averhealth serves more than 520,000 clients across 30 states. Every element of the Averhealth solution incorporates evidence-based practices, positioning programs and clients for the best possible outcome. Random selection, daily engagement, robust sample collection, and next business day results combine to help clients develop coping and refusal skills to new-use events. With Averhealth’s agile and easy-to-navigate software and automation tools, it streamlines your daily workflow and ultimately supports recovery. For more information, please visit: https://www.averhealth.com.