The company announced the deal in November 2023. It also operates a virtual care infrastructure division.
The $180 million will pay down the company’s debt. UpHealth sold its pharmacy division to Belmar Pharma Solutions for roughly $56 million. Deleveraging the business helps stabilize the company and enable its focus on TTC Healthcare, UpHealth CEO Martin Beck said in a statement.
“TTC is a profitable and cash-generating behavioral health business with an incredibly bright future and we look forward to working with our talented team to profitably scale and deliver high-quality care to more patients,” Beck said.
TTC Healthcare is a brand affiliated with the UpHealth Behavioral division, which operates four facilities in Florida. According to the UpHealth website, the company presently operates Transformations Treatment Center in Delray Beach, Transformations Mending Fences in Morriston, Olympus Recovery in Delray Beach and Summit Detox in Boynton Beach.
Source: BH Business
