Private investment firm Atar Capital is reportedly in the process of selling Clarvida, a behavioral health company that provides outpatient and telehealth care to underserved populations across 17 states.
According to Axios, which first reported the news, Atar Capital is now in the second round of its sale process of the Medicaid-reliant provider. The company first acquired Clarvida in 2018. Now the provider employs more than 4,600 across its locations and serves around 60,000 patients per year. Prior to 2018, managed care organization Molina Healthcare (NYSE:MOH) was the company’s previous owner.
Behavioral Health Business has reached out to Atar Capital and Clarvida for comment on the pending transaction.
In 2020, under Atar Capital’s guidance, Clarvida (then Pathways Health and Community Support) acquired three entities: Access Family Services (AFS), Family Behavioral Resources (FBR) and Autism Education and Research Institute (AERI), which were combined into a single operation.
It wasn’t until 2024 that Pathways Health rebranded as Clarvida as part of a strategic move to triple the number of patients served by 2030.
Atar Capital has kept Clarvida in its portfolio for eight years, compared to the standard five-year holding timeline for private equity-backed healthcare. Since the investment firm is family-owned, it does not face the traditional timeline pressures that other firms do to sell or deliver exits. Still, the lengthy hold time is one reason BHB previously listed Clarvida as a company to watch for a pending sale in late 2025.
It is unclear who the buyer of this asset may be. At the time of publication, neither Atar Capital nor Clarvida has returned a request for comment.
Atar Capital has several other behavioral health-focused companies within its portfolio, including Psychological Assessment and Intervention Services (PAIS), Renew Consulting, Family Behavioral Resources and Access Family Services.