Behavioral Health Business August 8, 2024
After closing more than 80 centers over the last year, LifeStance (Nasdaq: LFST) is taking a measured approach to growth.
The outpatient mental health provider plans to open no more than 10 de novo facilities by the end of the year. That estimate is down from its initial expectation of opening no more than 20 in 2024.
“These updates reflect our increased emphasis on profitable growth and disciplined capital deployment,” Dave Gordon, chief financial officer at LifeStance, said during the company’s Q2 earnings call.
Still, the taper growth plan appears to be paying off. On its Q2 earnings call, the company reported a 20% year-over-year revenue growth to $312 million.
The leadership team attributed this result to higher total revenue...
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