Apogem Capital Leads Minority Investment in Family Care Center

Revelstoke-backed Family Care Center announced it closed a minority equity sale led by Apogem Capital and additional investors.

​The provider said the new funds will support its growth and community-based model. The outpatient behavioral health provider has 50 locations across five states and has more than 800 care providers. Revelstoke first invested in FCC in 2020.

​”We are excited to return capital to our limited partners while maintaining our partnership with Family Care Center so that we can continue to open new clinics, hire more providers and increase access to high-quality mental healthcare across America,” Michael Constantinides, Partner at Revelstoke, said in a statement.

​Mental health has remained a hot spot for private equity investment over the past decade. In 2025, 111 transactions occurred in the mental health subsector of behavioral health, according to Mertz Taggaart.

​”We believe the combination of Revelstoke and our new equity partners will create more opportunities for us to extend our services into new communities, while maintaining our focus on evidence-based treatments that create superior clinical outcomes for our patients,” Dr. Chris Ivany, CEO of Family Care Center, said in a statement.

​Outpatient mental health in particular has attracted a lot of investor and provider attention over the past year. For example, Universal Health Services (NYSE: UHS) has continued to expand its outpatient arm by expanding its brick-and-mortar clinics, called Thousand Branches and acquiring the virtual provider Talkspace. Additionally, legacy nonprofit provider Rogers Behavioral Health recently raised more than $83.2 million in municipal bonds to fund multiple projects, including adding and improving its outpatient centers.

​While Family Care Center offers a full range of traditional mental health services, including therapy and medication management, it also pioneered interventional psychiatry, particularly TMS.

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