Ideal Option, a leading provider of Medication-Assisted Treatment (MAT) and behavioral counseling services for individuals suffering from Opioid Use Disorder (OUD), announced today a strategic minority investment by BlueCross BlueShield Venture Partners (BCBSVP). BCBSVP invests on behalf of 33 BlueCross BlueShield entities in healthcare companies of strategic relevance to BlueCross BlueShield Plans.
The team at Ideal Option has expanded access to MAT to some of the most underserved communities in the country, said Binoy Bhansali, Vice President Healthcare, Sandbox Industries, on behalf of BlueCross BlueShield Venture Partners, and Ideal Option Board Member. The mission of the Company is aligned to the mission of many of our Blue Plan partners. BCBS Venture Partners is excited to partner with Varsity Health Partners to amplify the reach of Ideal Option and create a national, high-quality network of treatment providers focused on addressing the opioid crisis.
In September 2018, Ideal Option received a growth investment from Varsity Healthcare Partners to expand Ideal Options commitment of increasing affordable and evidence-based treatment access to communities impacted by the national opioid epidemic. The strategic investment by BCBSVP underlines the importance of Ideal Option to all constituents “ patients, providers, payors and communities across the country.
About Ideal Option
Headquartered in Kennewick, Washington, Ideal Option has delivered personalized medicine to over 20,000 patients through a network of 60 urban and rural office-based opioid treatment (OBOT) clinics across 10 states. Ideal Option emphasizes individualized treatment programs for patients consisting of MAT and behavioral counseling services to drive superior outcomes. The Company extensively utilizes telemedicine technology to reach secondary and tertiary markets where access to treatment is limited or non-existent. Ideal Option and its team of over 90 medical providers are dedicated to delivering excellent patient care with integrity and empathy. For more information please visit: www.idealoption.net.
About Varsity Healthcare Partners
Varsity Healthcare Partners (VHP) is a lower middle-market private equity investment firm focused on partnering with founders, entrepreneurs and management teams to build leading healthcare services companies. VHP has been successful in developing and executing a tailored value-creation plan, in partnership with the leadership of each company, that typically emphasizes an appropriate investment in infrastructure followed by an aggressive organic and acquisition growth strategy. VHP draws upon its extensive healthcare industry experience and relationships, as well as its hands-on partnership approach, to effectively drive growth and maximize value. For more information please visit: www.varsityhealthcarepartners.com.
About BlueCross BlueShield Venture Partners
BlueCross BlueShield Venture Partners (BCBSVP) is a corporate venture fund licensed by the BlueCross and BlueShield Association, an association of independent BlueCross and BlueShield companies. The fund invests in promising emerging companies of strategic relevance to BlueCross and BlueShield Plans. Sandbox Industries is the exclusive provider of investment management services to BlueCross BlueShield Venture Partners. For more information, visit www.bcbsvp.com.