M&A Deal Summary

Optum Acquires Refresh Mental Health

On March 24, 2022, Optum acquired healthcare services company Refresh Mental Health from Kelso

Acquisition Highlights
  • This is Optum’s 8th transaction in the Healthcare Services sector.
  • This is Optum’s 12th transaction in the United States.
  • This is Optum’s 1st transaction in Florida.

M&A Deal Summary

Date 2022-03-24
Target Refresh Mental Health
Sector Healthcare Services
Buyer(s) Optum
Sellers(s) Kelso
Deal Type Add-on Acquisition

Target

Refresh Mental Health

Jacksonville Beach, Florida, United States
website
Refresh Mental Health through its centers provides comprehensive mental health services, while some specialize in eating disorders, substance abuse, Transcranial Magnetic Stimulation (TMS), and neurofeedback services. Refresh invests in clinical professionals. The company not only provides financial backing but also support practices with business and marketing infrastructure. Refresh Mental Health was formed in 2017 and is based in Jacksonville Beach, Florida.

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Buyer(S) 1

Buyer

Optum

Eden Prairie, Minnesota, United States

website


Category Company
Sector Information Technology
DESCRIPTION
Entrance to Optum's corporate headquarters in Eden Praire, Minnesota.
Entrance to Optum's corporate headquarters in Eden Praire, Minnesota.

Optum is an information and technology-enabled health services business dedicated to helping make the health system work better for everyone. Optum delivers intelligent, integrated solutions that help to modernize the health system and improve overall population health.


DEAL STATS #
Overall 12 of 16
Sector (Healthcare Services) 8 of 11
Type (Add-on Acquisition) 11 of 12
State (Florida) 1 of 1
Country (United States) 12 of 16
Year (2022) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-01 VPay

Plano, Texas, United States

VPay offers a turn-key platform that distributes, administers, and processes virtual and plastic cards, checks, and ACH payments via their end-to-end issuing and processing capabilities. Offering the insurance industry’s only total payment solution, VPay equips insurers with configurable, next-generation digital solutions that streamline every aspect of payment processes. VPay was founded in 2002 and is based in Plano, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-29 LHC Group

Lafayette, Louisiana, United States

LHC Group is a provider of post-acute healthcare services, providing quality, cost-effective healthcare to patients within the comfort and privacy of their home or place of residence. LHC Group was founded in 1994 and is based in Lafayette, Louisiana.

Buy $5.4B

Seller(S) 1

SELLER

Kelso

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1971
PE ASSETS 15.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kelso & Company is a private equity and investment management firm that seeks control investments in middle-market companies operating primarily throughout the US. Sectors of interest include manufacturing, communications, media, distribution, service, consumer products, retail, healthcare, transportation, logistics, textiles, & apparel, chemicals, and energy. Kelso looks to align 'management's interest with those of investors' when considering opportunities. Kelso & Company was formed in 1971 and is based in New York City.


DEAL STATS #
Overall 50 of 53
Sector (Healthcare Services) 2 of 3
Type (Add-on Acquisition) 23 of 24
State (Florida) 6 of 7
Country (United States) 43 of 46
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-13 ReSource Pro

New York, New York, United States

ReSource Pro is a provider of outsourced business process management solutions within the property & casualty insurance market. The Company provides administrative services across the insurance policy lifecycle for brokers, managed general agents, carriers and third-party administrators. ReSource Pro was founded in 2003 and is based in New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-24 Inovar

Dallas, Texas, United States

Inovar is a large custom printer/converter in the south-central US. Inovar manufactures a wide array of pressure-sensitive labels, tags, and screen-printed products. Inovar's focus is on superior quality for value-added applications for a very diverse customer base in the food, beverage, automotive after-market, chemical, and retail industries. Inovar was founded in 1964 and is based in Dallas, Texas.

Buy -