US HealthVest is an innovative behavioral healthcare firm that has redefined the psychiatric hospital space. De novo strategies and acquisitions of operating facilities with unrealized potential are the core of the US HealthVest business model. Each facility is structured to offer multiple service lines in order to serve the needs of specific patient population groups.
The senior management team of US HealthVest has successfully built psychiatric hospital businesses which were acquired by public companies. Ascend Health was founded by Richard Kresch, M.D. in 2005 and was one of the largest private psychiatric hospital providers with nine freestanding facilities and nearly 900 beds. Ascend Health was sold to Universal Health Services (NYSE: UHS) in 2012. The predecessor company, Heartland Health Developments, also focused on psychiatric care and was sold to Psychiatric Solutions in 2004.
Richard A. Kresch, MD, possesses 30 years of experience in the fields of adult, adolescent and child psychiatry. His experience includes private practice in psychiatry as well as leadership in the not-for-profit sector and in the for-profit psychiatric hospital and skilled nursing sectors.
After 10 years of experience in the not-for-profit sector, Richard built and sold two businesses; first a chain of skilled nursing facilities and later Heartland Health Developments, a psychiatric hospital company.
Richard is a Graduate of New York Medical College. He completed his adult psychiatry training at the Mount Sinai Medical Center of New York City and completed a fellowship in Child and Adolescent Psychiatry at Columbia Presbyterian Medical Center in New York City. He served on the faculty of Columbia University College of Physicians and Surgeons and was an attending physician at Presbyterian Hospital for 20 years.