Acentra Health, a prominent provider of clinical services and technology solutions to government healthcare agencies, recently announced its acquisition of EAP Consultants, LLC ("Espyr"), a leader in workplace mental health and well-being programs. The strategic move positions the company to offer an extensive portfolio of Employee Assistance Program (EAP) solutions and services to both existing and new clients, addressing the escalating mental health needs of diverse populations.
This acquisition allows the two companies to collaborate in delivering EAP solutions and services tailored for government agencies and commercial organizations. The comprehensive services include clinical intake and support, work-life services encompassing legal, financial, child and elder care support, critical incident debriefings, and counseling services available through various channels such as in-person, virtual, phone, and text.
Todd Stottlemyer, CEO of Acentra Health, highlighted “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.” With a shared focus on technology-enabled products and solutions, the combined expertise aims to better serve individuals in need of mental health services.
Mental health issues, affecting over 1 in 5 U.S. adults according to the U.S. Centers for Disease Control and Prevention, have become a critical concern. Recognizing the impact of stress, anxiety, and depression on workforce well-being and productivity, employers are increasingly investing in enhanced EAP solutions. The U.S. Office of Personnel Management's guidance for federal agencies has further prompted employers to prioritize mental health support.
Rick Taweel, CEO of Espyr, emphasized “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.” The collaboration between the two companies aims to provide customizable solutions that extend beyond traditional mental health counseling, leveraging predictive analytics and technology-enabled tools.
Additionally, Meghan Harris, President and COO of Acentra Health, underscored “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 newly merged company plans to maintain its headquarters in McLean, VA, and Bailey & Company acted as the exclusive financial advisor to Espyr, with legal advice provided by Goodwin Procter LLP for Espyr and King & Spalding LLP for Acentra Health.
Acentra Health, known for modernizing healthcare experiences, and Espyr, with its well-being solutions, unite to create a robust platform that addresses the evolving mental health landscape, providing immediate, customizable behavioral and mental health solutions for organizations and their members.
