LifeStance is pulling back from its expansion efforts as it refocuses on long-term profitability.
The sizable behavioral health provider plans to do this by consolidating brick-and-mortar facilities, cutting payer contracts by 25% and pulling back on its M&A strategy, instead opting for more organic growth. The company has its sights set on being cash-flow positive by 2025, reports Behavioral Health Business.
This new strategic focus comes after the Scottsdale, Arizona-based LifeStance continues to struggle on the public market and, as a result, has shaken up its C-suite team. Over the last year, the company has named a new CEO, COO and CFO. Read more.
