PSIMED

What PSIMED does

PSIMED is a West Virginia-based, privately held behavioral health services provider founded in 1991 and headquartered in Charleston. The company operates a dual-track service model: (i) outpatient mental health services delivered through three clinic locations in Charleston, Morgantown, and Southridge/South Charleston, offering individual therapy, couples therapy, family therapy, children's therapy, addictions counseling, psychological testing, psychiatric evaluation, medication management, and substance abuse therapy via in-person and telehealth appointments; and (ii) correctional behavioral health services delivered through its wholly owned subsidiary, PSIMED CORRECTIONS, LLC, which has held a continuous contract with the West Virginia Division of Corrections and Rehabilitation since March 1996 to provide mental health and psychiatric services across adult prisons, juvenile facilities, parole services, and the West Virginia Regional Jail and Correctional Facility Authority.

The company's underlying delivery technology is centered on telehealth and tele-psych infrastructure that enables psychiatric consultations across all security-level facilities statewide, supporting a multi-disciplinary clinical team that includes psychiatrists (MD), PhD psychologists, licensed professional counselors (LPC), licensed clinical social workers (LCSW/LICSW), nurse practitioners (APRN-CNP, PMHNP), physician assistants, and behavioral health technicians, with compliance certified against ACA and NCCHC mental health standards.

PSIMED is entirely owned by founder Terrence Rusin (sole owner since January 2006), with no disclosed institutional, private equity, or venture capital backing. Revenue is generated through insurance-billed outpatient services and managed-services contractual arrangements with the State of West Virginia's corrections and rehabilitation systems. The customer base is highly concentrated within state government, with the West Virginia Division of Corrections and Rehabilitation functioning as the anchor client since 1996.

Name

PSIMED

Legal name

PSIMED Inc.

Website

https://psimedinc.com

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

101–250 employees

Short description

PSIMED is a privately held West Virginia behavioral health provider founded in 1991, operating outpatient mental health clinics in Charleston, Morgantown, and Southridge, and delivering statewide correctional mental health services through its PSIMED CORRECTIONS, LLC subsidiary under contract with the West Virginia Division of Corrections and Rehabilitation since 1996.

Ownership category

akta.pro rank

Product category

Mental Health Services

NAICS

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

SIC

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

akta.pro primary industry

Outpatient Mental Health & Counseling Clinics (HLAFABAC)

akta.pro secondary industries

Forensic & Correctional Behavioral Health Services (HLAFACAM), Correctional Health, Mental Health & Substance Abuse Services (In-Custody) (BPAKANAG), Outpatient Substance Use Treatment Programs (IOP/PHP/OP) (HLAFACAF), Outpatient Mental Health Clinics & Counseling Centers (HLAFACAA)

Keywords

• Mental health services
• Correctional behavioral health
• Psychiatric evaluation
• Outpatient therapy
• Addiction counseling

Headquarters

HQ city

Charleston

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Outpatient Mental Health Services: Provides counseling, psychiatric evaluation, medication management, and therapy services to individuals, couples, families, and children on an outpatient basis through multiple West Virginia locations.
2. Correctional Behavioral Health Services: PSIMED Corrections, LLC provides mental health and psychiatric services for the West Virginia Division of Corrections and Rehabilitation including adult, juvenile and parole services. Has been providing services since March 1996 under contract.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

PSIMED delivers outpatient mental health services (individual, couples, family, and children's therapy; psychiatric evaluation; medication management; addictions counseling; psychological testing; substance abuse therapy) across three West Virginia clinic locations and via telehealth. Through its wholly owned subsidiary PSIMED CORRECTIONS, LLC, the company provides correctional behavioral health services—including psychiatric services, crisis intervention, individual/group therapy, substance use treatment, criminogenic rehabilitation, reentry planning, and specialized treatment units—to the West Virginia Division of Corrections and Rehabilitation for adult, juvenile, and parole populations.

Product overview

PSIMED is a mental health services company offering a dual-track product portfolio: outpatient mental health services and correctional behavioral health services. The outpatient services (Individual Therapy, Couples Therapy, Family Therapy, Children's Therapy, Addictions Counseling, Psychological Testing, Psychiatric Evaluation, Medication Management, and Substance Abuse Therapy) are available at three West Virginia locations (Charleston, Morgantown, Southridge) with both in-person and telehealth options. The correctional services are delivered through PSIMED CORRECTIONS, LLC, a wholly owned subsidiary providing comprehensive mental health services for the West Virginia Division of Corrections and Rehabilitation since March 1996, including criminal justice rehabilitation, crisis intervention, evaluation, psychiatric services, reentry planning, specialized treatment units, and substance use treatment for adult, juvenile, and parole services.

Differentiator

Problem solved

Functional benefit

Products and services

• Outpatient Mental Health Services Comprehensive outpatient mental health services including individual therapy, couples therapy, family therapy, children's therapy, addictions counseling, psychological testing, psychiatric evaluation, medication management, and substance abuse therapy. Services available at Charleston, Morgantown, and Southridge locations with both in-person and telehealth appointment options for adults, couples, families, and children in West Virginia.
• Corrections Behavioral Health Services Specialized correctional mental health services delivered through PSIMED CORRECTIONS, LLC, a wholly owned subsidiary serving the West Virginia Division of Corrections and Rehabilitation. Includes criminal justice rehabilitation, crisis intervention, evaluation, psychiatric services, reentry planning, specialized treatment units, substance use treatment, and individual/group therapy for adult, juvenile, and parole services.

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered minor and core.

• West Virginia UniversityminorStrategic or Co-development Partner · 1 January 2011Dr. Tim Thistlethwaite serves as psychiatric consultant for fellows assigned to correctional and forensic rotations in partnership with West Virginia University. Dr. Smith supervises graduate students pursuing doctoral degrees in clinical psychology.
• Marshall UniversityminorStrategic or Co-development Partner · 1 January 2009Ms. MargaRita Pauley served as adjunct professor for Marshall University's Counseling Department from 2009 to 2011. Ms. Pauley earned her M.A. in Counseling with an emphasis in Corrections from Marshall University in 1994.
• Charleston Area Medical CenterminorStrategic or Co-development Partner · 1 January 2009Dr. Tim Thistlethwaite served as chief resident for Charleston Area Medical Center's Department of Behavioral Medicine and Psychiatry.
• West Virginia Division of Corrections and RehabilitationcoreStrategic or Co-development Partner · 1 March 1996PSIMED CORRECTIONS, LLC has been providing mental health/psychiatric services for the West Virginia Division of Corrections and Rehabilitation including adult, juvenile and parole services since March 1996. This is the company's core government contract partnership.
• West Virginia Regional Jail and Correctional Facility AuthoritycoreStrategic or Co-development Partner · 1 March 1996PSIMED provides psychiatric services for contracts serving the WV Regional Jail and correctional Facility Authority.

Scale indicators2 records

Recent moves7 records

Expansion highlights4 records

Regional players

• Valley Health Systems: West Virginia-based multi-site outpatient health provider offering behavioral health services across the Tri-State region — comparable outpatient footprint in the same geography.
• Seneca Health Services: West Virginia-based community behavioral health provider offering outpatient mental health and substance use services across central WV — directly competes with PSIMED's Charleston-area outpatient clinics.
• Chestnut Ridge Center (WVU Medicine): WVU-affiliated outpatient and inpatient behavioral health program serving north-central WV (Morgantown region) — competes with PSIMED's Morgantown outpatient location.

Direct peers

• Wellpath: Largest US correctional healthcare provider delivering medical and behavioral health services to state prison systems — directly comparable to PSIMED CORRECTIONS, LLC and the most plausible competitor in any WV rebid.
• Centurion Health: Specialty provider of correctional mental health, psychiatric, and substance use services under state contracts; competes head-to-head with PSIMED for behavioral health RFPs.
• Wexford Health Sources: National correctional healthcare company providing medical and behavioral health staffing and management to state DOCs — directly comparable services and contract structure.
• Corizon Health (now Tehumca): Correctional healthcare operator providing behavioral health and medical services to state and local correctional agencies; competes in the same government contract RFP market.
• MHM Services: Correctional behavioral health specialist (now part of Wellpath) historically focused on state mental health programs for incarcerated populations — same vertical and customer type as PSIMED CORRECTIONS.

Emerging players

• BrightView Health: Outpatient substance use disorder treatment provider delivering individual, group, and medication-assisted therapy across multiple states — comparable outpatient addiction services line.

Broad incumbents

• Discovery Behavioral Health: National outpatient and residential behavioral health platform offering therapy, psychiatry, and substance use treatment — comparable outpatient service mix though at much larger scale.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/PSIMED_
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Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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 PSIMED