Syracuse NY – November 30, 2021
Psychological HealthCare, PLLC (PHC) has been acquired in a strategic transaction with Refresh Mental Health. PHC is a multidisciplinary group practice offering a wide range of psychotherapies helping children, adults, couples, and families achieve wellness and overcome challenges.
The PHC practices were founded in 1990 by Dr. Joel Richman who started Psychological Counseling Services and Dr. Ronald Fish who began the Center for Family Psychology. In 1999, Drs. Fish and Richman merged their practices together to form Psychological HealthCare. Since then, Psychological Healthcare has grown to include over 80 clinicians and 25 administrative staff serving patients from three locations in the Central New York State area.
“It is exciting that Refresh shares our commitment to working compassionately with our patients and collaboratively with our medical partners to improve the quality of our patient’s lives.” comments Dr. Richman. Steven Gold, founder and CEO of Refresh Mental Health commented, “We enthusiastically welcome both Dr. Fish and Dr. Richman and their team of mental health administrative and clinical professionals into the Refresh family of companies.”
Terms of the transaction were not disclosed. Paragon Ventures acted at the exclusive merger and acquisition advisor to Psychological Healthcare. The transaction team was led by Anthony Marsallo, Managing Director of Paragon Ventures who commented “It was a pleasure to work both with PHC and Refresh who share a common mission and drive to serve those in need. Everyone made it as easy as possible working through all the challenges of the pandemic.”
About Psychological Healthcare PLLC
Psychological Healthcare is a multidisciplinary behavioral health services provider which was formed in 1990 and has evolved into the largest outpatient provider in its central NY market area. Their New York State-Licensed behavioral health providers have diligently provided comprehensive evaluation and treatment services including ADD/ADHD, Anxiety, Autism Spectrum Disorders, Depression, Sleep Disorders, Stress Related Illnesses and Substance Abuse and most other psychological and behavioral health issues. With over 100 clinical and support staff, Psychological Healthcare operates from three locations in central New York State.
About Refresh Mental Health
Founded in 2017, Refresh Mental Health is a national provider of outpatient mental health services. The Company has grown rapidly, both organically and through acquisition, and currently operates over 300 locations in 36 states plus the District of Columbia. Refresh employs over 2,000 clinicians nationwide. Refresh provides in-network access to high-quality psychiatric and psychotherapy services for the treatment of mental health disorders, such as anxiety and depression, primarily in an outpatient setting. Refresh operates established local brands with strong referral networks and provides value-added central services to enhance growth and operations across its markets. The company promotes clinical excellence, celebrates diversity among staff and clients, and is committed to making mental health services an accessible and routine form of preventative healthcare for all.
About Paragon Ventures
Paragon Ventures is the leading healthcare merger and acquisition advisory focused exclusively on strategic transactions for private mid-market healthcare companies. Since 1994, Paragon Ventures has advised thousands of healthcare business owners and successfully closed over 300 transactions across the continuum of healthcare.
For general information about Psychological Healthcare, please visit https://phcny.com. For information about Refresh Mental Health, please visit https://refreshmentalhealth.com. For information on Paragon Ventures visit https://www.paragonventures.com/
For more information on this transaction, please contact Paragon Ventures