Apogem Capital Leads Minority Investment in Family Care Center - Behavioral Health Business
By Laura Lovett
| October 21, 2026 | October 21, 2026 | |---|---|
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Revelstoke-backed Family Care Center announced it closed a minority equity sale led by Apogem Capital and additional investors.
The provider stated the new funds will support its growth and community-based model. With 50 locations across five states and over 800 care providers, the outpatient behavioral health provider has seen significant expansion since Revelstoke's initial investment in 2020.
According to Michael Constantinides, Partner at Revelstoke, "We are excited to return capital to our limited partners while maintaining our partnership with Family Care Center so that we can continue to open new clinics, hire more providers, and increase access to high-quality mental healthcare across America."
Mental health has been a prominent sector for private equity investment over the past decade, with 111 transactions in the mental health subsector of behavioral health occurring in 2025, as reported by Mertz Taggaart.
Dr. Chris Ivany, CEO of Family Care Center, expressed optimism about the future: "We believe the combination of Revelstoke and our new equity partners will create more opportunities for us to extend our services into new communities, while maintaining our focus on evidence-based treatments that create superior clinical outcomes for our patients."
Outpatient mental health has garnered substantial interest from investors and providers in recent times. Universal Health Services (NYSE: UHS), for example, has been expanding its outpatient arm through both physical clinics, such as Thousand Branches, and virtual platforms like Talkspace. Similarly, the legacy nonprofit provider Rogers Behavioral Health recently secured over $83.2 million in municipal bonds to fund multiple projects, including the expansion and improvement of its outpatient centers.
Family Care Center offers a comprehensive range of traditional mental health services, including therapy and medication management, while also being a pioneer in interventional psychiatry, particularly Transcranial Magnetic Stimulation (TMS).