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.
Photo: Kritchanut, Getty Images
