Stella Mental Health

What Stella Mental Health does

Stella Mental Health is a private interventional psychiatry practice founded in 2020 and headquartered in Westmont, Illinois, with 101-250 employees operating 17 owned clinics across California, Illinois, Massachusetts, and Utah, plus international locations in Israel and Australia and a parallel certified-DSR partner network spanning 11 states. The company treats mental health conditions — primarily treatment-resistant depression, PTSD, anxiety, OCD, and long COVID — as biological injuries, combining FDA-approved pharmacological and device-based interventions (Spravato/esketamine nasal spray, conventional and Deep TMS via BrainsWay equipment, Accelerated TMS, IV ketamine infusions) with its proprietary Dual Sympathetic Reset (DSR) Stellate Ganglion Block protocol developed over approximately 20 years by Chief Medical Officer Dr. Eugene Lipov. Adjacent services include medication management, Integration Therapy, CBT, EMDR, somatic and couples therapy, a Virtual Intensive Outpatient Program, neurofeedback, pharmacogenomic testing, and a Cybin Cyb003 psilocybin clinical trial.

Revenue is generated through per-treatment fee-for-service with a hybrid reimbursement model: insurance-covered modalities (Spravato, TMS, intake assessments) are billed to major payers including BCBS, Anthem, Aetna, Cigna, UnitedHealthcare, Medicare, and Tricare, while DSR SGB, ketamine infusions, and out-of-pocket portions are funded through self-pay with financing via CareCredit, Rectangle Health, HSA/FSA, and 0% in-house plans. Pricing per treatment course ranges from $292 (intake assessment) to $4,795 (bilateral DSR plus four ketamine infusions). Patient acquisition combines self-serve online booking and a symptom quiz with a structured provider-referral partnership program targeting physicians, therapists, and health systems. Documented outcomes include 81%+ PTSD symptom relief among DSR SGB recipients in a 327-patient study, 87% clinically significant improvement or remission among multi-modality patients, and 16,176 patients treated across the network since January 2020, as reported in the 2026 Impact Report.

The company is privately held under Stella MSO, LLC, with affiliated clinical entities including Lipov Medical S.C., Lipov Medical P.C., and Stella Center LLC. Strategic capital and M&A activity has been the primary growth lever: a $7M funding round led by Sterling Partners in May 2023 funded the Chicago flagship facility; the October 2023 acquisition of Field Trip Health's U.S. assets and the November 2024 acquisition of Numinus Wellness consolidated psychedelic-adjacent infrastructure; BrainsWay took a $5M strategic minority stake in Stella MSO in June 2025; and the September 2025 acquisition of Bespoke Treatment extended the California footprint, followed by a new Newton, Massachusetts clinic in February 2026.

Name

Stella Mental Health

Legal name

Stella MSO, LLC

Website

https://stellamentalhealth.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

101–250 employees

Short description

Stella Mental Health is a private interventional psychiatry practice operating 17 U.S. clinics plus locations in Israel and Australia, treating treatment-resistant depression, PTSD, anxiety, and OCD using Spravato, TMS, ketamine, and its proprietary Dual Sympathetic Reset stellate ganglion block protocol.

Ownership category

akta.pro rank

Product category

Mental Health Services

NAICS

Offices of Physicians, Mental Health Specialists (621112), Outpatient Mental Health and Substance Abuse Centers (621420)

SIC

Services-Offices & Clinics Of Doctors Of Medicine (8011), Services-Specialty Outpatient Facilities, Nec (8093)

akta.pro primary industry

Outpatient Mental Health & Counseling Clinics (HLAFABAC)

Keywords

• Interventional psychiatry
• Ketamine therapy
• Transcranial magnetic stimulation
• Mental health treatment
• Psychiatric clinic

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices29 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Treatment Services - Self-Pay: Fee-for-service model for advanced treatments including DSR SGB and ketamine infusion therapy, paid directly by patients at point of service with financing options available.
2. Treatment Services - Insurance Reimbursed: Insurance-covered treatments including Spravato, TMS therapy, intake assessments, and integration therapy. Stella accepts major insurance plans and handles prior authorization.
3. Management Services Organization (MSO): Stella MSO, LLC provides administrative and management services to affiliated medical groups. Received $5M minority stake investment from BrainsWay.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels10 records

Core offering

Stella Mental Health is an interventional psychiatry practice founded in 2020 that delivers advanced, non-traditional mental health treatments through a network of clinics. The company offers Spravato (esketamine), TMS, Deep TMS, Accelerated TMS, Ketamine Therapy, Dual Sympathetic Reset (DSR) / Stellate Ganglion Block (SGB), medication management, and therapy services to patients who have typically not responded to conventional psychiatric care. It has treated more than 16,176 patients across 17 U.S. clinics plus locations in Israel and Australia.

Product overview

Stella Mental Health is an interventional psychiatry practice providing a comprehensive suite of mental health treatments under one roof. The core platform combines biological interventional treatments including FDA-approved therapies (Spravato esketamine nasal spray, TMS, Deep TMS, Accelerated TMS, ketamine infusions) with proprietary protocols (Dual Sympathetic Reset/Stellate Ganglion Block). Adjacent services include medication management, talk therapies (CBT, EMDR, Somatic Therapy, Couples Therapy), Integration Therapy sessions, Virtual IOP, Neurofeedback, and Pharmacogenomic Testing. The company also participates in psychedelic research through the Cybin Clinical Trial. Treatments are delivered across 17 U.S. clinics plus locations in Israel and Australia, supported by financing partnerships for patient accessibility.

Differentiator

Problem solved

Functional benefit

Products and services

• Spravato (Esketamine) Treatment FDA-approved nasal esketamine treatment administered in-clinic for patients with treatment-resistant depression and related mental health conditions.
• Transcranial Magnetic Stimulation (TMS) Non-invasive neuromodulation therapy that uses magnetic fields to stimulate nerve cells in the brain, offered to patients with depression and other conditions.
• Deep TMS Deeper-penetrating variant of TMS using BrainsWay-style H-coils to target broader and deeper brain regions for treatment-resistant psychiatric conditions.
• Accelerated TMS Compressed-course TMS protocol delivering multiple sessions per day over a shorter treatment window for faster symptom relief.
• Ketamine Therapy Clinically administered intravenous or intramuscular ketamine infusions used to treat depression, PTSD, anxiety, and related disorders.
• Dual Sympathetic Reset (DSR SGB) / Stellate Ganglion Block Image-guided stellate ganglion block procedure targeting the sympathetic nervous system, used to address PTSD, anxiety, and trauma-related symptoms.
• Medication Management Psychiatric medication prescribing, monitoring, and adjustment services delivered by Stella's clinical team.
• Therapy (CBT, EMDR, Somatic, Couples) Individual and relational psychotherapy services including Cognitive Behavioral Therapy, EMDR, somatic therapy, and couples counseling.
• Virtual Intensive Outpatient Program (IOP) Virtual intensive outpatient program delivered remotely, providing structured mental health support for patients who cannot attend in-clinic sessions.

Quantifiable outcome

• 87% of patients achieved clinically significant improvement or remission of PTSD when receiving two or more treatment modalities
• +4 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered minor, major and core.

• CybinminorStrategic or Co-development Partner · 17 February 2026Cybin clinical trial partnership mentioned on Stella's homepage. Cybin is a pharmaceutical company developing psychedelic-based therapeutics.
• Bespoke TreatmentmajorStrategic or Co-development Partner · 9 September 2025Stella acquired Bespoke Treatment in September 2025 to expand mental health care services in Los Angeles. This acquisition extends Stella's presence in the California market.
• Fieldtrip Health (U.S. assets)majorStrategic or Co-development Partner · 5 October 2023Stella acquired Fieldtrip's U.S. assets in October 2023, marking a significant merger in the mental health sector aimed at advancing psychedelic and innovative therapies. The deal combined established treatment methods including the Stellate Ganglion Block and psychedelic-assisted therapies.
• All Points North (APN)coreStrategic or Co-development PartnerPartnership with All Points North to provide trauma-informed talk therapy curriculum. APN Connection offers therapeutic support designed by Stella's Chief Psychologist Dr. Shauna Springer specifically to support long-term positive outcomes for clients undergoing biological treatments. The 8-session curriculum includes trauma exploration, emotional intelligence, physiological strategies, and cognitive strategies.
• CareCreditminorGTM or Marketing PartnerCareCredit healthcare financing card accepted for out-of-pocket services including ketamine therapy, Spravato out-of-pocket costs, DSR SGB treatment, and insurance deductibles or co-pays.
• Johnson & Johnson (SPRAVATO)coreTechnology or IntegrationDr. Brian Boyle, Stella's Chief Psychiatric Officer, was selected as a 2026 Bureau Speaker for SPRAVATO (esketamine) nasal spray by Johnson & Johnson, recognizing his expertise in treatment-resistant depression.

Scale indicators9 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Field Trip Health: Pre-acquisition operator of ketamine-assisted therapy clinics across the U.S. and Canada; Stella acquired its U.S. assets in October 2023, making Fieldtrip the closest historical operating peer in interventional psychiatry clinic delivery.
• Numinus Wellness: Canadian psychedelic and mental-health clinic operator acquired by Stella in November 2024. Numinus operated ketamine-assisted therapy clinics and clinical research sites, with overlapping interventional psychiatry service lines including TMS, ketamine, and integration therapy.
• Bespoke Treatment: Los Angeles-based interventional psychiatry practice acquired by Stella in September 2025. Focused on TMS, ketamine, and SPRAVATO for treatment-resistant depression and anxiety, directly competing in the same LA market.

Emerging players

• Mindbloom: At-home ketamine therapy platform serving treatment-resistant depression and anxiety clients nationwide. Overlaps with Stella's ketamine franchise but competes via telehealth delivery rather than clinic-based infusion.
• Charlie Health: Virtual intensive outpatient program (IOP) provider focused on teens, young adults, and families with mental health and substance-use conditions. Overlaps with Stella's Virtual IOP service line and shared patient pipeline.
• Compass Pathways: Clinical-stage psilocybin therapy developer with COMP360 trials for treatment-resistant depression. Competes for the same interventional psychiatry patient pool when psychedelics reach commercial approval and serves as a bellwether for regulatory trajectory.

Broad incumbents

• Greenbrook TMS: Largest U.S. provider of TMS therapy with 100+ treatment centers across multiple states. Overlaps with Stella's TMS/Deep TMS franchise and competes for patients with treatment-resistant depression.
• Lyra Health: Enterprise mental-health benefits platform offering therapy, coaching, and medication management to employer customers. Competes for the same treatment-resistant patient population, particularly via payer channels.

Others

• Cybin: Clinical-stage psychedelic pharmaceutical company developing psilocybin-based therapeutics (CYB003). Active clinical-trial partner with Stella for interventional psychiatric care delivery, providing drug candidates that complement Stella's clinic network.
• BrainsWay: Public device company behind Deep TMS technology and a $5M minority investor in Stella MSO, LLC. Operates as both supplier (TMS coils) and strategic partner, with overlapping commercial interest in expanding neurostimulation treatment access.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@StellaMentalHealth
• Instagraminstagram.com/stellamentalhealth
• TikToktiktok.com/@stellamentalhealthhq
• Xx.com/StellaTrauma

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries3 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Stella Mental Health