By Special Press Release
BTST Services (BTST) is pleased to announce an investment by Webster Equity Partners (Webster). BTST will be the initial pillar organization for Webster’s new Community Behavioral Health Services (CBHS) platform. The investment in BTST is in support of its future growth and is being done in partnership with the Company’s long-time owners and operators Chris Simon and Jada McCray.
BTST is a leading provider of community-based behavioral health services in the state of Maryland, providing services across 11 counties throughout the state. BTST has a scalable care delivery model that allows its clinicians and therapists to conduct psychological evaluations and medication appointments in a variety of care settings including schools, the home, virtually, a variety of community-based settings, and at Company-operated clinics. The Company provides its services within an underserved and predominantly Medicaid population and has a heavy emphasis on serving children and young adults. The Company’s focus on clinical excellence and growing its number of access points has yielded a differentiated reputation in the communities that it serves and establishes the group as an attractive first anchor of a larger multi‐state strategy.
BTST was founded by Chris Simon in 2008, and has grown over the last 15 years to include multiple services and locations. “We are constantly looking for ways to improve and grow,” said Simon. “We have very ambitious strategic goals for our organization and are excited to partner with Webster to aid in accomplishing the expansion of our services and an enhanced level of access to care for our patient population.”
BTST represents the founding investment for Webster’s entry into the community-based behavioral health sector and its sixth behavioral health platform. With the ongoing support of Webster, a Boston-based private equity firm focused on the healthcare industry, BTST will be the founding pillar of a multi-state community-based behavioral health platform. The goal will be to further build on BTST’s success in Maryland by expanding their presence in the state by adding additional locations and services. The platform will also seek to grow into other states and geographies outside of Maryland by acquiring other best-in-class providers that share in the same goals and values as BTST and Webster. Beyond capital, Webster brings additional resources to the partnership, including a wide network of industry executives and operating partners, best practices in scaling and professionalizing organizations, and a long track record of investing in the behavioral health sector.
Jada McCray, chief operating officer of BTST said, “Mental Health is our passion. We strive to provide services that maintain the dignity and respect of our clients. Our refusal to compromise the standard of care while successfully navigating an ever changing world has allowed us to become one of the leading mental health providers in our region. It was important for us to find a capital partner that shares those same values. Webster understands behavioral health and has successfully worked with other companies like BTST to not only provide capital but provide expertise that will help us grow both organically and through acquisitions.”
About BTST
BTST is a CARF accredited licensed mental health agency providing comprehensive programing and integrated care to children, teens and adults throughout the State of Maryland. BTST works to stay on the cutting edge of technological advancements to provide our clients with the most efficient and accessible care, in an ever-changing society. (https://www.btstservices.com/)
About Webster Equity Partners
Founded in 2003, Webster is a private equity firm that focuses on high impact growth strategies that seek to deliver optimal outcomes for our investors, portfolio companies and the communities that we serve. Our mission is to deliver superior returns to our partners through the investment in and development of purpose driven patient-centric healthcare organizations dedicated to providing best of class clinical care and service to their patients. (https://websterequitypartners.com/)
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