RENO, Nev., Aug. 17, 2022 (GLOBE NEWSWIRE) -- UPD Holding Corp. (OTC:UPDC) (the “Company” or “UPDC”), a publicly traded holding company in the health and wellness industry, is pleased to announce that its flagship intensive outpatient (IOP) substance use disorder treatment facility in Frankfort, Kentucky commenced operations as Vital Behavioral Health™ (“Vital”) and began generating revenue in the Company’s fiscal fourth quarter ended June 30, 2022.
Through its subsidiaries, the Company obtained a license to operate an IOP facility in Kentucky on August 26, 2021. Since then, the Company has been approved by the Kentucky Department for Medicaid Services (DMS) and each of its privately contracted managed care organizations (MCOs) as a service provider to Kentucky Medicaid recipients.
The six MCOs currently contracted by DMS include: Aetna Better Health of Kentucky, Anthem Blue Cross Blue Shield, Humana Healthy Horizons in Kentucky, Passport Health Plan by Molina Healthcare, UnitedHealthcare Community Plan, and WellCare of Kentucky.
“Becoming an approved provider to Medicaid recipients allows us to help close the treatment gap in Kentucky and reach an underserved segment of the community,” said Mark Conte, CEO of the Company. “In addition, we believe the standard and quality of our services and facilities also appeal to non-Medicaid eligible clients with private insurance.”
Vital’s campus is located in Frankfort, Kentucky, which is the capital city of Kentucky and the hub for governmental assistance programs in the commonwealth. Vital currently provides treatment to clients from the surrounding counties and nearby metropolitan areas of Louisville and Lexington.
About Vital Behavioral Health Inc.
Vital Behavioral Health Inc. is a provider of Medicaid eligible substance abuse treatments and therapies in the United States under the brand Vital Behavioral Health™, as well as a provider of sober and transitional living accommodations under the brand Vital Sober Living™.
About UPD Holding Corp.
UPD Holding Corp. is a publicly traded holding company in the health and wellness industry that conducts business through its primary operating subsidiaries, Vital Behavioral Health Inc., VBH Kentucky Inc., and VSL Frankfort LLC.
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