PE firm NewSpring announced that NewSpring Healthcare has invested in Prosperity Behavioral Health. which provides business process outsourcing services to behavioral health programs. The amount of investment was not disclosed.
Founded in 2017, Prosperity provides a wide range of outsourced services that help behavioral health treatment facilities grow and optimize their profitability.
As part of the transaction, Michelle Mullany, a healthcare executive with substantial behavioral health experience, has become the CEO of Prosperity. Co-founder and outgoing CEO Greg Keilin will remain with the company as chief of strategy and growth officer. Prosperity’s co-founder and CFO, Aron Hacoen, Vertex co-founder Kyle McHenry, and the rest of the Prosperity team will continue in their current roles. Read more.
