MedOptions announced May 2 a definitive agreement to acquire San Diego-based Vericare, a behavioral health clinical care provider.
MedOptions is an outsourced provider of behavioral health services to nursing and assisted living facilities in the Northeast and Mid-Atlantic states. According to a news release from MedOptions, their combined business would serve more than 180,000 beds across more than 1,500 facilities.
The transaction is scheduled for completion in late May of 2016. HLM Venture Partners is the lead investor in Vericare and will become an investor in MedOptions with the transaction. MedOptions is backed by an investor group led by Summit Partners and Point Judith Capital.