Acentra Health acquires workplace mental health biz

McLean-based health care solutions company Acentra Health announced Thursday that it has acquired EAP Consultants, a workplace mental health company known as Espyr that is based in Marietta, Georgia. Terms of the deal were not disclosed.

Owned by Carlyle Group, Acentra was formed after its predecessor Client Network Services Inc. (CNSI) merged with health care management company Kepro in December 2022 and rebranded as Acentra Health in June 2023.

With the acquisition of Espyr, which has about 125 employees, Acentra expects to serve existing and new clients in government health care agencies with Espyr’s portfolio of employee assistance program services, which include health coaching, counseling and leadership programs that are aimed at increasing engagement and productivity at work. Traditionally, EAPs have provided mental health and other kinds of support for employees in need.

“The combination of Acentra Health and Espyr aligns with the strategic objectives of both companies to be at the forefront of helping our clients address our nation’s mental health crisis,” Acentra CEO Todd Stottlemyer said in a statement. “I am excited about the combination of our highly skilled teams, our technology-enabled products, solutions and services, and our increased ability to serve people in need of mental health services.”

The combined company will maintain Acentra’s McLean offices as its headquarters, according to the announcement. Bailey & Co. was financial adviser to Espyr, and Goodwin Procter was the company’s legal adviser. King & Spalding was Acentra’s legal adviser in the deal.

“Today’s mental health crisis demands that we change our approach and seek new ways to reach people where they are, with the workplace having a central role,” Rick Taweel, CEO of Espyr, said in a statement. “With more companies seeking to go beyond traditional EAP support, we believe our combined capabilities will help our clients meet and adapt to these changes and drive better outcomes in mental health and well-being.”