PAX Health Acquires Richardson Psychiatric Associates, Expanding Mental Health Services for Adults, Adolescents, and Families

RED BANK, N.J., April 17, 2025 /PRNewswire/ -- PAX Health, a leading behavioral healthcare company backed by HCAP Partners and funds managed by Hamilton Lane (Nasdaq:HLNE), today announced its acquisition of Richardson Psychiatric Associates, a comprehensive outpatient psychiatric practice serving adults, adolescents, children, and families.

This strategic acquisition enhances PAX Health's portfolio of mental health services and expands its geographic footprint in Western Pennsylvania, strengthening the company's ability to deliver high-quality psychiatric care across diverse patient populations.

"Richardson Psychiatric Associates has established an outstanding reputation for providing personalized mental health treatment in a compassionate environment," said Anthony DeSena, CEO of PAX Health. "Dr. Richardson and his team's expertise in psychiatric evaluations, medication management, and specialized therapeutic approaches adds significant value to our service offerings and aligns perfectly with our mission to improve access to comprehensive behavioral healthcare, further supporting the expansion of our geographic footprint."

Co-founded by Dr. W. Randolph Richardson and Lisa Richardson, PMHNP-BC, Richardson Psychiatric Associates offers a wide range of services including psychiatric evaluations, medication management, and various evidence-based therapeutic modalities such as Cognitive Behavioral Therapy, Trauma Therapy, Art Therapy, and Grief Therapy. Dr. Richardson has been practicing psychiatry since 1991, while Lisa has worked in psychiatry since 1987, providing psychiatric evaluations and medication management to patients of all ages.

"We are excited about the partnership and are looking forward to the opportunity to help grow PAX's presence in Pennsylvania," said Dr. W. Randolph Richardson, MD, Co-Founder of Richardson Psychiatric Associates. "We anticipate being able to use our thirty-plus years of knowledge of the Western Pennsylvania market to improve the availability of high-quality mental health services in our area. We are hopeful that we will have a long-term legacy for our practice as we build our partnership with PAX through the coming years."

"We look forward to continuing the patient-centered and compassionate care we currently provide in conjunction with our new PAX partners, now with a new ability to grow and expand our services to a broader community," added Lisa Richardson, CRNP, Co-Founder of Richardson Psychiatric Associates.

This acquisition represents another significant step in PAX Health's growth strategy, supported by healthcare-focused private equity firm HCAP Partners and global investment management firm Hamilton Lane. The integration will enhance PAX Health's ability to deliver customized behavioral health solutions while preserving Richardson Psychiatric Associates' established approach to patient care.

About PAX Health

PAX Health is a leading behavioral health company dedicated to providing innovative and comprehensive solutions for mental health and well-being. Through strategic integration of best practices and resources, PAX Health delivers tailored solutions for individuals, businesses, and communities seeking comprehensive behavioral health services.

About Richardson Psychiatric Associates

Richardson Psychiatric Associates offers outpatient psychiatric treatment for adults, adolescents, children, and families. Co-founded by Dr. W. Randolph Richardson and Lisa Richardson, PMHNP-BC, the practice provides services including psychiatric evaluations, medication management, and various therapeutic approaches in a comfortable, supportive environment.

Dr. Richardson is Board Certified in Psychiatry by the American Board of Psychiatry and Neurology. He completed his medical school training at Emory University School of Medicine and completed Psychiatry Residency training at the University of Pittsburgh Medical Center. Lisa Richardson holds a master's degree in Psychiatric Mental Health Nursing from the University of Pittsburgh and Post-Master's Certificates for Psychiatric Mental Health Nurse Practitioner from both Drexel and Rush Universities. She is board certified as a Psychiatric Mental Health Nurse Practitioner Across the Lifespan by the American Nurses Credentialing Center.

SOURCE PAX Health