Altior Healthcare is reportedly going to hit the market.
A report by Axios states that Pine Tree Equity Partners, a Miami-based investment firm, will soon look to auction the company.
Behavioral Health Business has reached out to Altior Healthcare and Pine Tree Equity Partners. They have not yet responded to our request for comment.
Altior Healthcare employs 500 people across California, Idaho, Maine, New Hampshire, and Texas through three brands: Paradigm Treatment Centers, Patriot PowerUp and Ridge RTC. A largely residential treatment center-focused business, the company serves about 300 residents per day across its seven centers, according to its website.
Pine Tree Equity Partners built up Altior Healthcare through a series of acquisitions. It has acquired Paradigm Treatment Centers, Shortridge Academy, Innercept and Ironwood. Many of these companies treated pediatric and young adult patients with mental health conditions.
In addition to addressing equity, anyone acquiring the company will also have to contend with its debt load. Public documents show that Gladstone Capital Corp. (Nasdaq: GLAD) lent Altior Healthcare $46 million in May 2025. According to Gladstone’s latest filings, it values the investment at $46.9 million.
A previous Pine Tree Equity Partners portfolio company, MySpot, was split up across two deals in late 2025. Other major, traditional behavioral health organizations are expected to also sell in 2026. Already, the year has seen a handful of sizable deals, the UHS-Talkspace deal being among the largest and definitely the most high-profile.
Addiction treatment and mental health provider Haven Health Management, which operates 22 locations across nine states and Puerto Rico, was acquired by MKH Capital Partners in April.
BHB has also tracked merger activity in the nonprofit space: Primary Health Solutions and South Community Behavioral Health are slated to merge to create a $107 million enterprise.