Square Medical Group

What Square Medical Group does

Square Medical Group is a multi-specialty outpatient behavioral health practice headquartered in Watertown, Massachusetts, founded in 2008 by psychiatrist Dr. Natalie Lender. The company operates three outpatient clinics in Newton, Weymouth, and Woburn, plus three residential treatment facilities (River House Waltham, Summer House Framingham, and Gayle House Weymouth), with two additional residential sites (Robbins House Waltham and Springfield House) in development. Services span a full continuum of behavioral health care: medication management, individual and group therapy, intensive outpatient (IOP), partial hospitalization (PHP), residential treatment, medication-assisted treatment (MAT) using buprenorphine and naltrexone products, neuropsychological testing, and FDA-approved transcranial magnetic stimulation (TMS) for treatment-resistant depression.

The clinical model combines psychopharmacology with evidence-based psychotherapies (CBT, DBT, ACT, trauma-informed care) delivered by board-certified psychiatrists, psychiatric nurse practitioners, and licensed clinical social workers. The company is in-network with MassHealth, Medicare, Blue Cross Blue Shield, Tufts, United Healthcare, Aetna, Cigna, and other major payers, and is an active participant in federally funded clinical trials. Telehealth is offered across IOP, PHP, and medication management in addition to in-person services, and a downstream sober-housing partnership with Garnet Recovery extends the care continuum into community recovery settings.

Revenue is generated through fee-for-service professional billing across insurance payors and direct clinical services, supplemented by research-grant revenue from clinical trial participation and ancillary sober-housing referrals. The organization is privately held and founder-controlled: Dr. Lender remains Partner and Chief Medical Officer, CEO Jeffrey Gershman has run the business since 2011, and Chief Strategy Officer Bryan S. Bloom (joined 2024) signals a build-out of institutional strategy and operations talent.

Name

Square Medical Group

Legal name

Square Medical Group

Website

https://squaremedicalgroup.org

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

51–100 employees

Short description

Square Medical Group is a Massachusetts-based, multi-specialty behavioral health practice providing outpatient and residential treatment for mental health, substance use, and co-occurring disorders, including TMS, MAT, IOP, and PHP services across seven Massachusetts locations.

Ownership category

akta.pro rank

Product category

Behavioral Health Services

NAICS

Offices of Physicians, Mental Health Specialists (621112), Outpatient Mental Health and Substance Abuse Centers (621420), Offices of Mental Health Practitioners (except Physicians) (621330), Residential Mental Health and Substance Abuse Facilities (623220)

SIC

Services-Offices & Clinics Of Doctors Of Medicine (8011), Services-Specialty Outpatient Facilities, Nec (8093), Services-Health Services (8000)

akta.pro primary industry

Outpatient Mental Health Clinics & Counseling Centers (HLAFACAA)

akta.pro secondary industry

Residential Mental Health Treatment Centers (HLAFACAC)

Keywords

• Behavioral health services
• Outpatient mental health
• Medication-assisted treatment
• Substance use treatment
• Transcranial magnetic stimulation

Headquarters

HQ city

Watertown

HQ country

United States

HQ region

North America

Offices7 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Healthcare Services Revenue: Fee-for-service healthcare revenue generated from providing behavioral health services including outpatient therapy, medication management, intensive outpatient (IOP), partial hospitalization (PHP), residential treatment, and TMS therapy. Services billed to insurance or patients directly.
2. Insurance Reimbursement: Accepts most insurances including MassHealth, Medicare, Blue Cross Blue Shield, Tufts, United Healthcare, Aetna, Cigna and many more. Revenue generated through insurance claim reimbursements for covered behavioral health services.
3. Clinical Trials: Active participant in federally funded clinical trials, generating revenue through research grants and professional services provided to outside healthcare organizations.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels9 records

Core offering

Square Medical Group is a multi-specialty outpatient psychiatric group practice providing comprehensive behavioral health services for mental health, substance use, and co-occurring disorders. The practice operates outpatient clinics and residential treatment facilities across Massachusetts, delivering medication management, individual and group therapy, intensive outpatient (IOP) and partial hospitalization (PHP) programs, medication-assisted treatment (MAT), transcranial magnetic stimulation (TMS), neuropsychological testing, and residential treatment under a single continuum of care. Services are billed through insurance (MassHealth, Medicare, and major commercial carriers) and supplemented by federally funded clinical trial participation.

Product overview

Square Medical Group offers a comprehensive continuum of behavioral health services as a unified outpatient healthcare practice. The organization provides integrated mental health treatment, substance use treatment, and co-occurring disorder services through multiple levels of care including outpatient therapy, medication management, intensive outpatient (IOP) and partial hospitalization programs (PHP), residential treatment, and specialized TMS therapy. Services are delivered through outpatient locations in Newton, Weymouth, and Woburn, with residential facilities in Waltham and Framingham, and include Medication-Assisted Treatment (MAT) using buprenorphine and naltrexone products.

Differentiator

Problem solved

Functional benefit

Products and services

• Substance Use Treatment Comprehensive treatment services for substance use disorders including medication-assisted treatment, individual and group therapy, IOP, PHP, and residential treatment options, delivered to adults with opioid and alcohol addiction and other substance use disorders.
• Medication-Assisted Treatment (MAT) Treatment using FDA-approved medications including buprenorphine (Suboxone, Subutex, Sublocade) and Vivitrol (Naltrexone) monthly injectable to prevent cravings and withdrawal symptoms, supporting recovery for patients with opioid and alcohol addiction.
• Mental Health Treatment Outpatient behavioral health services providing progressive treatment options for the full spectrum of mental health diagnoses including medication management, individual therapy, group therapy, IOP, PHP, neuropsychological testing, and TMS delivered to adult patients.
• Medication Management Psychopharmacological treatment services where psychiatrists, psychiatric nurse practitioners, and clinical team members diagnose and manage prescription regimens tailored to individual patient needs.
• Individual and Group Therapy Therapeutic services using evidence-based practices including Cognitive Behavioral Therapy (CBT), Trauma Informed Care, DBT, EFT, Solution Focus Therapy, and ACT for adult patients with mental health and substance use conditions.
• Intensive Outpatient Program (IOP) Group therapy program meeting three days per week for three hours daily, offered virtually Monday, Wednesday, Friday 9:00 AM-12:30 PM and in-person in Weymouth and Woburn Monday through Friday for patients requiring more than weekly therapy.
• Partial Hospitalization Program (PHP) Most intensive level of outpatient service offering five hours of daily group programming Monday through Friday, including relapse prevention, anxiety/depression management, trauma recovery, and wellness activities for patients requiring day treatment without 24-hour residential care.
• Transcranial Magnetic Stimulation (TMS) FDA-approved non-invasive treatment for depression using magnetic pulses to stimulate under-active areas of the brain, regulate neural networks, increase blood flow, and activate nerves affecting depressive moods; 20-30 minute sessions with no sedation required, allowing patients to drive and resume normal activities immediately.
• Residential Treatment (COERRS) Structured rehabilitation-oriented residential treatment program focused on trauma-informed care and harm reduction, with three phases over an average 3-6 month stay at River House Waltham and Summer House Framingham for adults 18+ with substance use and co-occurring disorders.
• Co-Occurring Disorders Treatment Integrated treatment for patients with both mental health and substance use disorders, combining individualized medication management, individual therapy, group therapy, IOP, PHP, and residential treatment with a trauma-informed approach addressing dual diagnoses simultaneously.
• Neuropsychological Testing Comprehensive neuropsychological evaluation services to assess cognitive functioning and support diagnosis and treatment planning for patients with mental health and related conditions.

Quantifiable outcome

• TMS therapy allows patients to drive and resume normal activities immediately after treatment sessions
• +3 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core and minor.

• Garnet RecoverycoreStrategic or Co-development PartnerSquare Medical Group has partnered with Garnet Recovery to give patients access to a sober house that provides a structured setting free of alcohol and other drugs for people in recovery. Residents become part of a community and use community resources including self-help groups and employment support. This partnership extends the continuum of care beyond Square Medical's clinical services.
• AsniyaminorOthersSquare Medical Group supports Asniya, a non-profit outreach organization that brings medical students to Indian reservations to teach health and science to American Indian children. This is a charitable giving relationship focused on community health outcomes.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Bournewood Health Systems: Massachusetts-based integrated behavioral health provider offering inpatient, residential, partial hospitalization and outpatient services. Highly comparable continuum-of-care model in the same geography; Square Medical's founder Dr. Lender previously practiced there.
• Spectrum Health Systems: Massachusetts-based nonprofit operating outpatient, IOP and residential substance use treatment programs. Direct overlap with Square Medical's MAT, IOP and residential service lines, particularly for opioid and alcohol use disorders.
• Column Health: Massachusetts-based outpatient psychiatry and addiction medicine practice offering MAT, TMS, therapy and primary care integrated services. Closely comparable model and Massachusetts footprint, focused on co-occurring disorders.
• Northeast Health Services (formerly cleanSlate Centers): Multi-state outpatient addiction medicine practice with strong Massachusetts presence offering MAT, psychiatry and therapy. Directly comparable outpatient MAT-focused model with similar payer mix.
• Riverside Community Care: Large Massachusetts behavioral health and human services provider offering outpatient mental health, substance use, residential and community-based programs. Comparable service breadth within the same geography.
• Bay Cove Human Services: Massachusetts-based provider of mental health, substance use and developmental disability services including residential and outpatient programs. Comparable continuum model with broader social-service overlay.

Broad incumbents

• Acadia Healthcare: National behavioral health operator with inpatient psychiatric and residential treatment facilities. Overlaps with Square Medical's residential line as a large incumbent, though predominantly hospital-based rather than outpatient-led.
• Universal Health Services (Arbour Hospital): Large national health system operating Arbour Hospital in Brookline, MA and other behavioral health facilities. Broad incumbent with overlapping psychiatric and addiction services in the same Massachusetts market.
• McLean Hospital: Harvard-affiliated psychiatric hospital in Belmont, MA offering inpatient, residential and outpatient behavioral health. Larger incumbent competitor for high-acuity patients and clinical talent in Greater Boston.

Regional players

• Advocates Inc. Massachusetts-based human services organization providing outpatient mental health, substance use, residential and community-based programs. Comparable service breadth within the same New England geography.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds1 record

Investors1 record

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

M&A

Investments

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

Frequently asked questions about Square Medical Group