November 5, 2021 – One of the nation’s leading telepsychiatry providers, MindCare Solutions Group (Nashville, TN), has announced the acquisition of Florida-based Virtual Inpatient Psychiatry Physicians Behavioral Network (“VIPPBN”).
MindCare is a leading provider of 24/7 telepsychiatry and telebehavioral health services to acute hospital emergency rooms in over 200 hospitals across the US. MindCare also serves primary care and specialty outpatient clinics and correctional facilities across the country. MindCare delivers over 100,000 telepsychiatry consults and evaluations annually by dedicated provider teams working with multiple layers of clinical leadership ensuring the delivery of high-quality psychiatric services.
The telebehavioral health market is anticipated to grow from approximately $3 billion today to $15.2 billion in 20261. In order to service this 25% year-over-year growth, MindCare’s digital service integrates behavioral care into a variety of healthcare settings through a secure, end-to-end telehealth platform to reduce costs and improve outcomes. Internal studies have shown that the platform shortens the length of stay in an emergency department by driving down the average time to a psychiatry consult from 5+ hours to under 30 minutes.
According to MindCare’s CEO David Morris: “We are excited to expand our presence into central Florida and partner with VIPPBN to increase psychiatry access to over 30 hospitals providing services to emergency rooms, medical floors and inpatient treatment environments.”
VIPPBN is a strong regional telepsychiatry company providing services in the Orlando metro area to acute care and behavioral healthcare facilities and outpatient clinics. VIPPBN was founded in 2019 by three board-certified psychiatrists with the goal of providing access to high quality psychiatric care to patients in underserved areas. “MindCare and VIPPBN share the same vision for expanding psychiatry through the use of telemedicine in combination with in-person care to address an increasing demand for mental health needs,” said Morris.
MindCare also recently acquired TriCounty Telebehavioral Services (“TriCounty”) in June 2021. TriCounty offers a wide range of telebehavioral healthcare and telepsychiatry services across the Orlando metro area. TriCounty and VIPPBN are merging together under MindCare in the central Florida market.
These latest mergers are part of MindCare’s aggressive growth strategy and will broaden their reach into more than 200 clinical settings across the US, as the company continues to set a new standard of care in the growing field of telebehavioral health — increasing access to high quality psychiatric care for patients when and where they need it most.
“This is one more step toward developing MindCare into one of the leading telebehavioral health providers in the US. With this acquisition, MindCare will now have well over 100 board certified psychiatrists on staff to help meet the growing need for behavioral health support within the country.” said Donald Phillips, Chairman and CEO of lead investor WP Global Partners.
