US HealthVest Commences Construction on Lake Behavioral Hospital

 Waukegan, IL, October 10, 2018 – US HealthVest announced the commencement of construction of Lake Behavioral Hospital in Waukegan, Illinois.  The new 146-bed behavioral hospital will provide a full continuum of specialized psychiatric care.

“Since our acquisition of Vista Medical Center West in March 2018, we have continued to provide quality behavioral healthcare services to the community,” said Richard Kresch, M.D., President and CEO of US HealthVest. “This new hospital will allow us to expand behavioral health services to treat the urgent and growing need for psychiatric care in Lake County and beyond.”

Located in the heart of Waukegan, Lake Behavioral Hospital will continue to provide psychiatric care to patients during the construction of the new hospital. Comprehensive services include free 24/7 assessments, inpatient and outpatient care.  Once construction is complete, all services will be relocated to the new hospital.  A full range of specialized programs will be offered including, but not limited to, a Women’s Program, a Youth Program, a Co-Occurring Disorders Program, a Geriatric Program, and a Psychiatric Intensive Care Program.

US HealthVest is investing approximately $30 million to transform the medical office building on campus into a new 88,000 square foot, 146-bed psychiatric hospital.  The hospital is designed to provide open spaces with daylight, enabling for a safe and therapeutic environment.  Shared amenities include activity rooms, therapy spaces, and a dining area, along with recreational activity spaces.  The new hospital, expected to open in the fall of 2019, will create over 200 additional high-quality jobs and will revitalize the surrounding Waukegan area.

Lake Behavioral Hospital is using local vendors for the design and construction of the building, including Legat Architects and Reed Construction as the General Contractor.

Chicago is a core market for US HealthVest. US HealthVest operates Chicago Behavioral Hospital in Des Plaines, and will open Silver Oaks Behavioral Hospital, a joint venture with Silver Cross Hospital in New Lenox, in December 2018.  Lake Behavioral Hospital allows US HealthVest to strengthen its position in the Chicago market by offering comprehensive service offerings and solidifying relationships with payers and providers.

About US HealthVest

US HealthVest is an innovative provider of behavioral healthcare services. US HealthVest operates Chicago Behavioral Hospital, Lake Behavioral Hospital, Smokey Point Behavioral Hospital, Ridgeview Institute-Smyrna, Ridgeview Institute – Monroe and is developing additional psychiatric hospitals across the country. Accredited by The Joint Commission, US HealthVest’s hospitals provide specialized psychiatric care to patients with a full range of inpatient and outpatient services for children, adolescents, adults and senior adults. US HealthVest was founded in 2013 by Dr. Richard Kresch, formerly Founder & CEO of Ascend Health Corporation and Heartland Health Developments. For more information, please visit www.ushealthvest.com.

Contact:

US HealthVest

Richard Kresch, M.D.

President and Chief Executive Officer

212-243-5565

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