important to have the right tools in place before entering a merger in the outpatient mental health space. Bloom Health CEO Lorraine Riche said the process is akin to putting on an oxygen mask before helping someone else with theirs.
That partly illustrates the strategic thinking and years of preparation that Riche, the president of Towson, Maryland-based provider, said went into the creation of her company.
In March, Psych Associates of Maryland — where Riche was previously the president — acquired Arlington, Virginia-based Comprehensive Behavioral Health to create Bloom Health Centers. The company claims this merger created the largest in-network mental health provider in the Northern Virginia/Washington D.C. area. The terms of the deal were not disclosed.
Read the full article in Behavioral Health Business here.