LifeStance Health Enters the Behavioral Healthcare Arena in Partnership With Summit Partners and Silversmith Capital Partners

BELLEVUE, WA--(Marketwired - Dec 3, 2015) - LifeStance Health ("LifeStance") is a newly formed company that has partnered with Summit Partners and Silversmith Capital Partners to create an innovative platform within the behavioral health industry. Founded by former executive team members of Accelecare Wound Centers, LifeStance will look to acquire high growth and competitively differentiated businesses to build a world-class behavioral health service platform.

"I am excited to partner for a second time with Darren Black at Summit Partners and Jeff Crisan at Silversmith Capital Partners to build a behavioral health services company focused on people struggling with addiction, substance abuse and eating disorders," said LifeStance CEO Michael K. Lester. "LifeStance sees a tremendous opportunity to improve long term treatment success rates by providing clear, medically-driven standards of care beginning with detox and carrying through to enhanced aftercare programs."

Benefiting from the significant management expertise of the team and access to growth capital from its partners, LifeStance's behavioral health platform will pursue an aggressive acquisition and de novo growth plan to drive expansion. The company plans to invest up to $250 million of equity capital to execute its growth strategy.

"We are thrilled to partner with both Mike and his management team and with Jeff and the team at Silversmith Capital Partners to execute on this vision of building a leading company in the behavioral health space," said Darren Black, Managing Director at Summit Partners. "This management team has a history of building industry leading, clinically focused platforms in the healthcare services arena. As an investor in Mike's prior company, I could not be more confident in his leadership capabilities."

About LifeStance Health

LifeStance Health was formed in 2015 to provide medically driven, evidenced-based treatment services for its patients who are suffering from addiction, substance abuse and eating disorders in a variety of settings including residential treatment centers, outpatient clinics, sober living facilities and aftercare settings. For more information, visit www.lifestance.com

About Silversmith Capital Partners

Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $460 million of capital under management. Silversmith's mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. The firm seeks to invest $15 million to $50 million per company, with the ability to increase the equity commitment in select situations. The founders have over four decades of collective investing experience and have served on the boards of numerous successful growth companies including Ability Networks, Accelecare Wound Centers, Dealer.com, Liazon, Liberty Dialysis, MedeAnalytics, MedHOK, National Cardiovascular Partners, Net Health, Passport Health, SurveyMonkey, Wrike and Yapstone. For more information, visit www.silversmithcapital.com

About Summit Partners

Founded in 1984, Summit Partners is a growth equity firm that has raised more than $16 billion in capital. Summit has invested in more than 400 companies in healthcare, technology and other growth sectors. These companies have completed more than 135 public offerings, and more than 150 have been acquired through strategic mergers and sales. Notable healthcare companies financed by Summit Partners include American Dental Partners, AmeriPath, HealthCare Partners, Independent Vetcare, Lincare, National Veterinary Associates, MEDNAX, My Dentist and Solutionreach. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, visit www.summitpartners.com or follow on Twitter at @SummitPartners

In the United States of America, Summit Partners operates as an SEC-registered investment advisor. In the United Kingdom, this document is issued by Summit Partners LLP, a firm authorized and regulated by the Financial Conduct Authority. Summit Partners LLP is a limited liability partnership registered in England and Wales with registered number OC388179 and its registered office is at 20-22 Bedford Row, London, WC1R 4JS, UK. This document is intended solely to provide information regarding Summit Partners' potential financing capabilities for prospective portfolio companies.