Periscope Equity LLC has made an undisclosed investment in Integrated Behavioral Health. Mesirow Financial provided financial advice to IBH on the transaction while Katten Muchin Rosenman LLP provided legal counsel to Periscope. Based in Costa Mesa, California, IBH is a provider of behavioral health and employee engagement products and solutions.
Periscope Equity LLC (“Periscope”), today announced its investment in Integrated Behavioral Health, Inc. (“IBH” or the “Company”), a leading provider of comprehensive behavioral health and employee engagement products and solutions in the United States. IBH represents Periscope’s fourth platform investment in the healthcare data, technology and services sub-sector.
Based in Costa Mesa, CA, IBH provides employee engagement and administration solutions, including managed behavioral health (“MBH”), employee assistance programs (“EAP”), wellness programs, and monitoring services to corporations, academic institutions, medical insurance carriers, disability and workers compensation insurance carriers and state governments across the United States. The Company provides these services to over 7 million lives, across 26,000+ employers, delivering these employees access to IBH’s clinical services team and its distributed national network of 23,000+ healthcare providers.
Founded by Messrs. Ed Bosanac Dr.P.H., Sam Mayhugh PhD and Tom Yankoff, the Company has grown organically and through a series of strategic acquisitions to become a leading provider of comprehensive behavioral health solutions in the United States, leveraging its highly credentialed clinical expertise and capabilities. Dr. Ed Bosanac, CEO of IBH said “I, along with the entire IBH management team are excited to partner with Periscope due to their extensive sector expertise, deep operating roots and approach of working with management teams. From the very first meeting with them it was evident that our organic growth strategy, industry knowledge and views, and overall vision were aligned. We look forward to partnering with the Periscope team as we embark on the next chapter of growth.”
“The IBH team has built an exceptional business with a series of superior products and services and demonstrable results in a highly relevant sector that addresses critical societal needs – driven by the national opioid and chronic pain epidemic,” said Mr. Steve Jarmel, Partner at Periscope. “We plan to support that momentum through additional investments in products, people, processes and further acquisitions, to establish a comprehensive population health management platform within the behavioral health space. We believe such product development and diversification, that provides greater access to healthcare costs and outcomes data is critical for a market that has been ineffective at meaningfully integrating data and systems across the continuum of clinical care.”
Mesirow Financial served as financial advisor to IBH. Katten Muchin Rosenman LLP provided legal counsel to Periscope.
About Integrated Behavioral Health, Inc.
IBH is a pioneer in managed behavioral health and integrated employee assistance programs and services. As a boutique managed care company with a national footprint, IBH partners with employers and health plans to provide clients personalized and customized behavioral health plans with high quality clinical care, uncompromising service to patients, providers and clients with outcomes driven, cost effective care plans. Along with its subsidiaries Reliant Behavioral Health (“RBH”), Quality Health Solutions (“QHS”), American Behavioral Health Benefit Managers (“ABBM”) and CFR EAP Preferred (“CFR”), IBH has successfully managed treatment and benefits for self‐insured employers, medical and disability carriers, and health plans for over 30 years. IBH currently serves over seven million members, representing 26,000 individual clients across the United States. IBH strives to achieve and maintain a healthy, safe and productive pool of employees and members for employers and health plans.
Periscope Equity is a Chicago, IL based private equity firm, focused on buyouts of technology—enabled business services companies. Periscope focuses exclusively on investments within niche sector leaders across five key verticals (Marketing Services, Software as a Service, Security Services, Healthcare Services, Business Process Outsourcing) with unique mission or operationally critical products, data, technology or service offerings, a history of sustainable profitability and cash generation and known vectors of growth. In addition to providing liquidity, financial capital and commercial access through its extensive network, Periscope seeks to align and work in harmony with proven, like-minded management teams and bring strategic, operational, product and acquisition expertise to help transform and scale such companies to drive superior investment returns on an accelerated schedule.
To learn more about Periscope Equity, contact Alex Friedman – Vice President, BD