Acentra Health Announces Acquisition of EAP Consultants, LLC
Combined company to drive improvements in mental health outcomes through technology enablement, data analytics, and clinical expertise
MCLEAN, Va., Jan. 04, 2024 (GLOBE NEWSWIRE) — Acentra Health, a leading provider of clinical services and technology solutions to government healthcare agencies, announced today that it has acquired EAP Consultants, LLC (“Espyr”), a leader in workplace mental health and well-being programs. The acquisition will enable Acentra Health to serve existing and new clients with a comprehensive portfolio of Employee Assistance Program (EAP) solutions and services that will help them drive better outcomes in meeting the rising mental health and well-being needs of the populations they serve.
Together, the companies will provide EAP solutions and services that support government agencies and commercial organizations, serving employees, students, and their families. Services include clinical intake and support; work-life services, such as legal, financial, child and elder care support; critical incident debriefings; and counseling services available by appointment, on-demand, in-person, virtually, and by phone and text.
“The combination of Acentra Health and Espyr aligns with the strategic objectives of both companies to be at the forefront of helping our clients address our nation’s mental health crisis,” said Todd Stottlemyer, CEO of Acentra Health. He added, “I am excited about the combination of our highly skilled teams, our technology-enabled products, solutions, and services, and our increased ability to serve people in need of mental health services.”
According to the U.S. Centers for Disease Control and Prevention, mental illnesses are among the most common health conditions in the U.S. More than 1 in 5 U.S. adults are living with a mental illness. With mental health issues like stress, anxiety, and depression leading to increasing rates of absenteeism and “quiet quitting,” employers are taking notice. Following guidance from the U.S. Office of Personnel Management for federal agencies to enhance their employee assistance programs, more employers are offering enhanced EAP solutions to support their workforce, increase employee engagement, and improve productivity.
“Today’s mental health crisis demands that we change our approach and seek new ways to reach people where they are, with the workplace having a central role,” said Rick Taweel, CEO of Espyr. “With more companies seeking to go beyond traditional EAP support, we believe our combined capabilities will help our clients meet and adapt to these changes and drive better outcomes in mental health and well-being.”
“Acentra Health and Espyr each bring more than 30 years of experience in providing workplace mental health and well-being programs,” said Meghan Harris, President and Chief Operations Officer of Acentra Health. “Our combined capabilities, including predictive analytics and technology-enabled tools, will enable us to deliver customizable solutions that extend beyond traditional mental health counseling. With a network of over 5,900 providers and support options available across multiple modalities and preferences, Acentra Health is the vital partner to help our clients deliver timely mental health services that improve well-being and accelerate better health outcomes.”
The combined company will maintain Acentra Health’s McLean, VA offices as its headquarters location.
Bailey & Company acted as the exclusive financial advisor to Espyr in connection with the transaction. Goodwin Procter LLP acted as legal advisor to Espyr. King & Spalding LLP acted as legal advisor to Acentra Health.
About Acentra Health
Acentra Health combines public sector knowledge, clinical expertise, and technological ingenuity to modernize the healthcare experience for state and federal partners and their priority populations. From designing and developing advanced claims, encounter, and provider solutions that drive efficiency and cost savings to delivering clinically focused service models for care management and quality oversight, Acentra Health is accelerating better outcomes. Acentra Health is backed by Carlyle (NASDAQ: CG), a global investment firm. Visit acentra.com.
About EAP Consultants, LLC
Through its Espyr-branded programs, EAP Consultants empowers organizations to go beyond traditional support and offer their people comprehensive well-being solutions to increase engagement, boost productivity, and enhance workplace culture. Its mission is to help organizations and their people reach their potential by providing immediate, customizable behavioral and mental health solutions. EAP Consultants aims to enable its clients to support their members with health coaching, counseling, leadership programs, and more – available in-person or virtually, with the goal of higher engagement, reduced healthcare costs, and happier employees. Visit espyr.com.
Media Contacts:
Acentra Health – Janice Moore, 703-214-3552, Janice.Moore@acentra.com
Espyr – Lauren O’Neil, 603-370-0859, Loneil@espyr.com
