NewSpring, a family of private equity strategies, through its NewSpring Healthcare, has invested in Prosperity Behavioral Health, a provider of business process outsourcing (BPO) services to behavioral health programs.
Founded in 2017, Prosperity uses its technology and processes to offer a range of outsourced services that help behavioral health treatment facilities grow and optimize their profitability. With operations across several states, Prosperity boasts customer relationships in behavioral health treatment facilities nationwide. Prosperity looks to use the proceeds of this transaction to invest in its technology, expand its service line offerings and continue adding to its team. The company also expects to make strategic acquisitions into new markets and provide an expanded set of services to a wider range of healthcare providers.
“As the fast-growing behavioral health sector continues its rapid expansion, many providers require support with key business functions,” states Mike Kaplan, NewSpring partner. “This market growth creates a massive opportunity for technology-enabled BPO partners like Prosperity to expand and meet this need. Led by an innovative management team focused on growth, Prosperity represents a perfect fit for our approach to helping strong technology-enabled service providers accelerate their growth.”