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Integrated Telehealth Partners joins Psychiatric Medical Care

Des Moines-based Integrated TeleHealth Partners (ITP) has been acquired by Psychiatric Medical Care.

ITP offers outpatient telepsychiatry services in community mental health clinics as well as 24/7 emergency telepsychiatry consultation services in hospital emergency rooms. 

“We had certainly heard great things about them [Psychiatric Medical Care] and thought it made a lot of sense for us to proactively reach out to them and just start the discussion,” said Doug Wilson, President of ITP. “As we talked, we quickly identified that there was a lot of synergy and a lot of opportunities between the two companies.”

Nashiville-based Psychiatric Medical Care is a leading behavioral healthcare management company that has operations in 20 states and manages both inpatient psychiatry units and intensive outpatient psychiatry programs in hospitals. 

“The area of psychiatry that they focus on is in an area that we’ve really had a footprint in so while both companies are improving access and improving the quality of mental healthcare, they were working with a population that we didn’t have services around,” said Wilson. “And vice-versa, they were being approached by a number of their hospital customers inquiring about providing the types of services that we currently provide. So it just made a lot of sense to come together and join up and work together on providing those services as one entity versus working parallel.”

Wilson says that the acquisition will not affect ITP’s employees or the overall vision of the company.

“For us what it means is really an opportunity to accelerate our growth and really help expand access to psychiatric care and mental health services,” said Wilson. “Nothing is going to change or is changing for our staff or team. We’re going to be growing and adding more staff and adding more employees and resources at a much faster and more efficient rate than what have been able to do in the past.”

LWBJ, a Des Moines-based CPA, business advisory and M&A firm, served as exclusive advisor to ITP on the transaction. 

“LWBJ Investment Banking is pleased to have been the exclusive advisor to ITP on the transaction,” said JD Geneser, a Senior Partner at LWBJ. “Our engagement included readying the company for sale, identifying the potential parties, and negotiating and structuring of the transaction.”

“LWBJ and JD were a big part of the process,” said Wilson. “Working with them was a very important factor in helping us navigate through the process of the transaction.”

Integrated Telehealth Partners joins Psychiatric Medical Care | Clay & Milk
A central Iowa ag-tech accelerator has secured more backers and finally has a name. The Greater Des Moines Partnership first announced the accelerator last year, naming four initial investors. On Monday, the Partnership said the program will be called the "Iowa AgriTech Accelerator" and named three new investors. The new investors include Grinnell Mutual, Kent Corp. and Sukup Manufacturing, all Iowa companies. They join investors Deere & Co., Peoples Co., Farmers Mutual Hail Insurance Co. and DuPont Pioneer. Each investor has agreed to put up $100,000 for the first year of the accelerator. Startups entering the program will receive $40,000 in seed funding in exchange for 6 percent equity. Tej Dhawan, an angel investor and local startup mentor, is serving as interim director until the AgriTech Accelerator names a permanent leader. Dhawan held a similar role with the GIA before Brian Hemesath was named as managing director. As interim director, Dhawan said his main job includes hiring the accelerator's executive director, establishing a business structure and initial recruiting for the first cohort. The accelerator will place few filters, such as location and product, on the applicant pool, Dhawan said. "When you’re seeking innovation, innovation can come from every corner of the world so why restrict ourselves," he said. One area the the AgriTech Accelerator won't recruit from is biotech. For its first cohort, the AgriTech Accelerator will work out of the GIA's space in Des Moines' East Village, Dhawan said. A future, permanent home is still to be decided. The accelerator's program will host startups from mid-July through mid-October, ending with an event connected to the annual World Food Prize. The GIA, which the AgriTech Accelerator is based on, also ends with presentations at an industry event. The accelerator has also started lining up a mentor pool. The Iowa Corn Growers Association, Iowa Soybean Association and the Iowa Pork Producers Association have agreed to provide mentors, as has Iowa State University. While the AgriTech Accelerator is loosely based off of the GIA, it will differ in its business structure, Dhawan said. The GIA runs through a for-profit model for both operations and its investment fund. The AgriTech Accelerator will have a nonprofit model for its operations and a for-profit setup for its fund. Dhawan said the nonprofit model is being used so the accelerator can better work with other nonprofit partners, such as trade associations. "These are all organizations that are nonprofits and can be amazing stakeholders without ever having to be investors in the accelerator," he said. "It becomes easier to work with trade associations in their nonprofit role when we are also a nonprofit." When it's up and running, the AgriTech Accelerator would be one of a handful of ag-focused startup development programs in Iowa. Others include the Ag Startup Engine out of Iowa State University and the Rural Ventures Alliance from Iowa MicroLoan. Matthew Patane is the managing editor and co-founder of Clay & Milk. Send him an email at
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