Broadstep Behavioral Health has received a growth investment from Bain Capital Double Impact, according to a joint news release.
Broadstep Behavioral Health provides physical, emotional, and mental support for children and adults with intellectual and development disabilities (I/DD), mental illness, and co-occurring disorders. The company has more than 80 facilities across Wisconsin, North Carolina, New Jersey, Illinois, and South Carolina.
Bain Capital Double Impact, based in Boston, makes control and minority equity investments in middle market companies within healthcare and a few other industries. Founded in 1984, the firm prefers to make more substantial investments from a dollars perspective. Within healthcare, Bain Capital Double Impact targets the provider services, hospital/major facilities, and non-reimbursement industries.
The growth investment will go toward helping Broadstep expand into adjacent services and new markets.
Financial terms of the transaction were not disclosed.