February 27, 2024

Roots Behavioral Health is Acquired by Hightop Health

Brentwood Capital Advisors Serves as Exclusive Financial Advisor to Roots Behavioral Health

February 27, 2024 – Nashville, TN

Brentwood Capital Advisors LLC (“BCA”) is pleased to announce that it served as the exclusive financial advisor to Roots Behavioral Health (“Roots” or the “Company”) in its sale to Hightop Health, a new outpatient mental health platform backed by JLL Partners and SV Health Investors.

Roots is a leading mental health practice based in Austin, Texas and serves Central Texas using evidence-based therapies, including holistic psychiatry, psychotherapy, medication management and ketamine-assisted psychotherapy.  The Company was the first clinic in Texas to offer ketamine-assisted psychotherapy and remains at the forefront of innovative treatment modalities to address the growing demand for mental health disorders.  Roots was founded in 2016 by Brent Turnipseed, M.D. and Andrea Turnipseed, LCSW.

“It was important to Andrea and me to find a growth partner that shared our vision and culture at Roots, and we believe we found that in Hightop Health.  Additionally, Hightop Health brings operational expertise and resources to allow Roots to scale much faster to address the growing need for our services across Texas and beyond,” said Brent Turnipseed, M.D., co-founder of Roots. “BCA provided guidance and market insight for several years before recommending a process.  BCA was instrumental in guiding us through the M&A process and delivering Andrea and me the best possible outcome.”

“Outpatient mental health remains a highly fragmented and growing segment of behavioral health.  These market dynamics combined with a unique and differentiated mental health opportunity allowed us to create a highly competitive and targeted process,” said John Maher, Director at BCA. L.A. Galyon, Managing Partner at BCA, added, “BCA has a long track record of representing leading behavioral health companies across many different subverticals. We have completed over 20 behavioral transactions and continue to build on our momentum in the sector. We were thrilled to represent the Turnipseeds and are excited for their next chapter partnered with Hightop Health.”

About Brentwood Capital Advisors

Headquartered in Nashville, Tennessee, Brentwood Capital Advisors is one of the nation’s leading independent investment banks, specializing in providing financial advice on mergers, acquisitions, corporate divestitures, and capital raising to growth-oriented, middle-market healthcare services, healthcare technology, and business services companies since 1999. For more information, visit www.brentwoodcapital.com.


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