BH Practice Exit Strategies — 2026 Options

Option 1: PE-Backed Rollup Sale

• Multiples: 4-8x EBITDA (typical BH range)
• Buyers: Autism Care Partners, LEARN Behavioral, BrightView, Discovery, Elevance Health, etc.
• Structure: Cash + rollover equity typical
• Timeline: 6-12 months
• Owner: Typically stays 2-3 years post-close

Option 2: Strategic Buyer

• Health systems (Ascension, HCA, CommonSpirit)
• Multi-specialty groups adding BH
• Health plans (Optum, Aetna, Anthem)
• Multiples: 3-6x EBITDA typical (lower than PE)

Option 3: ESOP (Employee Stock Ownership)

• Employees buy owner out over time
• Tax-advantaged for seller
• Culture preservation
• Timeline: 5-10 years typical transition

Option 4: Family Succession

• Owner transfers to next generation
• Estate + gift tax considerations
• Family training + transition

Option 5: Wind Down

• Patient transition to other providers
• Asset sale (EHR data, real estate)
• Contract termination + credentialing wind-down

Valuation Drivers

• EBITDA + trajectory
• Revenue growth rate
• Payer diversification
• Provider retention rate
• Denial rate + AR quality
• Multi-site + scale

Revenant Care Practice Diligence

– KD, Revenant Care