Rogers Behavioral Health Raises $83M, Acquires Outpatient Provider
By Ashleigh Hollowell | October 14, 2026
Photo by Sarra Marzguioui on Unsplash
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Oconomowoc, Wisconsin-based nonprofit Rogers Behavioral Health has raised more than $83.3 million in municipal bonds to fuel a multisite expansion plan and refinance old debt. Approximately $35 million will go to its capital projects, while $46 million will refund existing bonds. An additional $2.24 million in cash from net premiums on the bonds will be allocated for capital projects, debt repayment, and issuance expenses.
Rogers Behavioral Health is one of the largest behavioral health nonprofits in the U.S. The bond-funded capital project primarily focuses on initiatives in Wisconsin, including facility improvements and new construction. Beyond the bond project, the organization continues to enhance and expand its outpatient centers nationwide.
The organization recently acquired Sebastian Family Psychology Practice in Milwaukee, Wisconsin, aiming to increase access to its services in the region and expand its care continuum. This acquisition, the first since 2014, demonstrates the organization's willingness to combine de novo growth with mergers and acquisitions.
As the organization expands into new markets, it prioritizes building strong local referral networks with healthcare professionals and community partners to ensure patients receive care close to home. When higher levels of care are required, these networks facilitate access to Rogers Behavioral Health's specialized residential, partial hospitalization, and inpatient programs.
"As Rogers Behavioral Health enters new markets, our focus is on building strong local referral networks with psychiatrists, therapists, primary care providers, health systems, employers, and other community partners," Cindy Meyer, CEO of Rogers Behavioral Health, shared in an email with Behavioral Health Business.