Acentra Health buys employee assistance program provider

Acentra Health has acquired a provider of workplace mental health and well-being programs to employers in a move to further build out a portfolio of clinical services and technology solutions.

The purchase of EAP Consultants, also known as Espyr, is part of Acentra Health's push to have more comprehensive offerings that support employee assistance programs for government agencies and commercial organizations. Terms of the transaction announced Thursday were not disclosed.

More than 1 in 5 U.S. adults live with a mental illness, according to Centers for Disease Control and Prevention data. The Office of Personnel Management has also issued guidance for federal agencies to further enhance employee assistance programs with the goal of increasing workforce engagement, productivity and overall well being.

“The combination of Acentra Health and Espyr aligns with the strategic objectives of both companies to be at the forefront of helping our clients address our nation’s mental health crisis,” Acentra Health's chief executive Todd Stottlemyer said in a release. "I am excited about the combination of our highly skilled teams, our technology-enabled products, solutions, and services, and our increased ability to serve people in need of mental health services.”

McLean, Virginia-headquartered Acentra Health is backed by the Carlyle Group and was formed in late 2022 through the merger of CNSI with Kepro. The transaction involving Espyr represents Acentra's first since that launch and rebranding.

Bailey & Company acted as the exclusive financial adviser to Espyr, which also looked to Goodwin Procter LLP as legal adviser. King & Spalding LLP worked as legal adviser to Acentra.