JLL Partners, a New York City-based private equity firm, recently acquired Odyssey Behavioral Healthcare, a leading provider of Partners Behavioral Healthcare services. Odyssey, headquartered in Brentwood, Tennessee, was previously owned by The Carlyle Group, which acquired the company in December 2018. This acquisition signals continued private equity interest in the behavioral healthcare sector.
Odyssey Behavioral Healthcare: A Comprehensive Approach to Partners Behavioral Healthcare
Odyssey Behavioral Healthcare offers a wide range of facility-based and outpatient services addressing substance use disorder (SUD), eating disorders, mental health disorders, and process addictions. With 55 locations across the U.S., Odyssey provides comprehensive partners behavioral healthcare solutions. The company’s recent expansion includes a new outpatient center in Lancaster, Pennsylvania, offering partial hospitalization programming (PHP), intensive outpatient programming (IOP), and medication-assisted treatment (MAT) for adults with co-occurring addiction and mental health conditions.
Strategic Shifts in the Partners Behavioral Healthcare Landscape
While expanding its footprint in general behavioral health, Odyssey recently scaled back its eating disorder services in Southern California, closing the long-standing Shoreline Center for Eating Disorder Treatment. This decision aligns with a broader trend of behavioral health providers adjusting their service offerings in response to economic challenges and the complexities of the eating disorder treatment market.
Private Equity’s Continued Interest in Partners Behavioral Healthcare
The acquisition of Odyssey by JLL Partners underscores the growing attractiveness of the behavioral health sector for private equity investment. A recent survey indicated that many PE executives consider behavioral health a top priority for healthcare investment. This acquisition follows JLL Partners’ launch of Hightop Health, an outpatient mental health platform, in October 2023, further demonstrating their commitment to partners behavioral healthcare.
Leadership and Future Direction for Odyssey Behavioral Healthcare
Following the acquisition, Odyssey Behavioral Healthcare’s leadership team, headed by CEO Richard Clark, remains in place. Clark, who succeeded founder Scott Kardenetz in 2021, has emphasized expanding outpatient care options. He has noted that payers are increasingly seeking diversified care settings for their members, a trend driving consolidation and diversification within the behavioral health industry. This focus on providing a continuum of care, from lower-intensity outpatient services to higher levels of care, positions Odyssey well for continued success in the evolving partners behavioral healthcare market.
Conclusion: A Promising Future for Partners Behavioral Healthcare
The acquisition of Odyssey Behavioral Healthcare by JLL Partners signifies a significant development in the partners behavioral healthcare landscape. With a strong leadership team, a comprehensive service portfolio, and the backing of a committed investor, Odyssey is poised to continue its growth and innovation in meeting the evolving needs of individuals seeking behavioral health services. This transaction reinforces the growing recognition of the importance of partners behavioral healthcare and the significant investment opportunities within this dynamic sector.
