Provident Behavioral Health Makes Strategic Decision to Acquire Assets from Care and Counseling

Thompson Coburn recently represented Provident Behavioral Health in its acquisition of certain assets of St. Louis-based mental health services nonprofit Care and Counseling. The two organizations finalized an asset purchase agreement June 15, 2023, and the combined organization will operate under the Provident Behavioral Health name as one of the largest behavioral health care providers in the region. The combined nonprofit will serve approximately 4,000 people directly in the St. Louis area and another 40,000 across Missouri and the U.S. through crisis hotlines annually.

Partner Jim Dillon and associate Nabil Al-Khaled handled the transaction for Provident. Partner Bob Wagner serves as Vice-Chair of Provident’s Board of Directors.

Serving the St. Louis area since 1860, Provident Behavioral Health is an accredited, nonprofit United Way safety net agency. In addition to providing crisis hotline services through the new “988” government initiative, Provident offers low-cost counseling and psychiatric services in the St. Louis area. It also provides behavioral health support for local schools and operates the Mary Ryder Home for women in the Central West End. 

Care and Counseling was founded in 1968 as an interfaith agency dedicated to providing mental health services to children, adults, and families as well as congregational and clergy training. Following the transaction, its existing clients can now access in-person care through the combined agency’s expanded office locations, including treatment plans that incorporate faith and spirituality as requested, as has been the long-standing practice of both agencies.