Spero Health, Inc., a newly formed healthcare organization specializing in local, affordable, outpatient care for individuals suffering from substance use disorder, announced that it has acquired investment growth capital to meet the demand in communities across the country for high-quality, comprehensive and integrated addiction treatment services.
Heritage Group, Health Velocity Capital, South Central, Inc. and Frist Cressey Ventures partnered with the management team to launch Spero Health. To accelerate the company’s growth, Spero Health recently acquired the assets of 20 freestanding outpatient clinics located throughout Kentucky, Ohio and Indiana. Providing care for more than 5,000 patients each month, Spero is one of the largest office-based opioid treatment providers in the country.
“Our team is committed to our mission to ‘Save Lives, Instill Hope, and Restore Relationships’ for those suffering from substance use disorder disease,” said Steve Priest, President and Chief Executive Officer of Spero Health, “and we could not be more excited to have this group of experienced, knowledgeable and committed investors as our partners.”
Spero Health utilizes an innovative evidenced-based integrated care model that combines both physical and behavioral healthcare services under one roof to treat the whole patient. This integrated care model combines physician services (including medication assisted treatment), behavioral health counseling, recovery support services, medication management and patient and family education. Its community-based approach to treatment allows patients to continue working and caring for their families as they overcome addiction. Spero Health is in-network with Medicaid and most commercial insurance plans.
“The opioid epidemic is far-reaching, affecting all socioeconomic backgrounds,” said Priest. “The dramatic increase in drug use and high rates of overdose make it essential that individuals have a local and affordable community-based option, and we are well-positioned to bring this care to communities that need help. We are excited that we will be able to provide more care to more people in more places with the commitment and support from our investor partners.”
“We are very excited to partner with such an experienced management team to launch Spero Health and aid in the company’s next phase of growth,” said Rock Morphis, Managing Director at Heritage Group. “As our nation continues to combat the opioid crisis, the need for quality providers is at an all-time high. We believe Spero Health can be the new standard of care for patients suffering from substance use disorder and look forward to working with the team to build a company that will have a lasting impact in the lives of the patients we serve.”