News & perspectives
The practice transition journal.
What evolving Spravato coverage decisions mean for practice valuations
As more payers formalize esketamine policies, REMS-certified practices with stable reimbursement are being valued differently than cash-pay-only peers.
September 15, 2026 · 5 min read
State by state: where psychedelic-assisted therapy rules are shifting in 2026
A small number of states continue to define the regulatory perimeter for psychedelic-assisted therapy. For buyers and sellers, the map matters as much as the practice.
August 30, 2026 · 7 min read
The cash-pay question: how buyers are repricing ketamine practices
Cash-pay revenue was once treated as premium. Buyers now weigh it against durability, referral dependence, and marketing cost — and price accordingly.
August 12, 2026 · 5 min read
TMS device cycles and what they mean for sellers
Owned versus leased devices, remaining useful life, and per-treatment economics now feature in nearly every TMS practice transaction.
July 22, 2026 · 4 min read
Notes from recent closings: transition periods are getting longer
Founders are staying on longer after closing — and buyers are structuring consideration to reward it. What was six months is now often eighteen.
July 2, 2026 · 5 min read
REMS certification as a transferable asset
Spravato's REMS requirements make certification a genuine barrier to entry — and a genuine asset in a sale, if it is documented to transfer.
June 10, 2026 · 4 min read
Why referral networks now anchor diligence
Buyers have learned that referral relationships are the revenue engine of interventional psychiatry — and they are underwriting them accordingly.
May 18, 2026 · 5 min read