Venture capital firm Polaris Partners has helped healthcare group US HealthVest raise $36m to buy and develop new psychiatric facilities.
The fundraising effort was also supported by co-founder Richard Kresh, Fidelity Biosciences, Akamai Technologies chairman George Conrades, Trevi Health Ventures, athenahealth executive Jonathan Bush and Carl Byers, as well as members of HealthVest’s management team.
Kresch previously led Polaris-backed Ascend Health, one of the largest private psychiatric hospital providers in the US. Prior to its acquisition by Polaris last year Ascend operated nine facilities with nearly 900 beds.
Polaris partner Brian Chee said, “A new model for mental health services is needed to improve patient care.
“Polaris Partners is excited to back Richard and his strong team again as they make important contributions in this area of great need.”
Back in October last year Hollywood actress Jennifer Aniston lent her weight to Polaris-backed haircare company Living Proof after becoming a co-owner in the company.
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