KKR launches new mental health services company Geode Health

KKR has formed Chicago-based Geode Health, a mental health services company.

KKR has formed Chicago-based Geode Health, a mental health services company. No financial terms were disclosed. Geode has named Mike King as chief operating officer.

PRESS RELEASE

NEW YORK–(BUSINESS WIRE)–KKR today announced the creation of Geode Health (“Geode” or the “Company”), a mental health services company that will partner with leading psychiatrists, psychologists, and therapists to offer high-quality in-person and virtual outpatient care to adults and children in the United States. Geode provides comprehensive support for mental health professionals, enabling them to increase access and augment outcomes for their patients. The Company intends to partner with existing providers and open new clinics to fulfill the substantial unmet need for high-quality mental health services.

Gaurav Bhattacharyya, a proven multi-site health care services executive, will serve as Chief Executive Officer of Geode. Most recently, Mr. Bhattacharyya served as CEO of Elite Dental Partners, a dental support organization with 100+ offices across 12 states. Previously, he was Division Vice President at DaVita, a leading provider of renal and outpatient multi-site health care services.

Geode has also appointed Mike King to serve as Chief Operating Officer. Mr. King was most recently General Manager at Cityblock Health, a leading Medicaid- and duals-focused value-based care platform. Previously, Mr. King was COO at Impact Fitness and Division Vice President at DaVita.

“While 1 in every 5 Americans suffers from mental illness, treatment options remain considerably less prevalent – a gap that has unfortunately only widened as a result of COVID-19,” said Gaurav Bhattacharyya. “With Geode, we hope to address this urgent need and enable better clinical outcomes for more patients by building a scaled, provider-focused mental health services platform.”

“We are excited to partner with Gaurav, Mike and the rest of the team at Geode on such a critical mission and look forward to supporting them with the resources and capital needed to expand high-quality access to mental health care for many patients in need,” said Ali Satvat, Co-Head of Americas Health Care Private Equity and Global Head of Health Care Strategic Growth at KKR.

For KKR, the investment is being funded through the firm’s Health Care Strategic Growth strategy, which is focused on investing in high-growth health care-related companies for which KKR can be a unique partner in helping reach scale. KKR has established a strong track record of supporting health care companies, having invested approximately $14 billion across the sector since 2004.

About Geode Health
Headquartered in Chicago, Illinois, Geode Health is a rapidly growing provider of outpatient mental health services to adults and children in the United States. Geode is committed to partnering with psychiatrists, psychologists and therapists to deliver high-quality care and to increase access to in-person and virtual outpatient services. For additional information about Geode Health or to receive updates, please visit www.geodehealth.com.

About KKR
KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.