Behavioral Health Market Update – May 2025

Mark has 15 years of experience advising middle-market companies on mergers, acquisitions, divestitures and financings. He has completed transactions for entrepreneurs, private equity sponsors and public companies across a broad range of industries.

Prior to co-founding Northborne, Mark was a Managing Director at Cowen, where he led the Healthcare Services effort, and a Principal at Greene Holcomb Fisher. He began his career practicing M&A law at Kirkland & Ellis, advising private equity clients on complex corporate transactions.

Mark earned a JD/MBA from Indiana University–Bloomington and a BA from Augsburg College.

Fun fact: Mark is passionate about golf, though remains very average in his abilities. He’s played for 35+ years but still struggles with those 3 foot putts and has yet to find a coach who can fix his slice. If he’s not working or with his family, he’s most likely on the course or on the way to one.

Dan has over 25 years of experience with more than 100 completed M&A, strategic advisory, and complex financing deals, bringing a rare combination of operational depth, entrepreneurial drive and financial expertise to every engagement. Prior to joining Northborne, Dan partnered with Lindsay Goldberg to co-found Sero Mental Health, a national behavioral health platform. Prior to Sero, Dan was a co-founder and Managing Director of Coker Capital Securities, a premier M&A advisory firm focused exclusively on middle-market healthcare that was acquired by Fifth Third Securities in 2018.

Dan holds a degree in Financial Management from Clemson University. He is a former Marine Corps Sergeant who served during the Persian Gulf War and was assigned to a unit tasked with conducting unconventional warfare by air, land, and sea.

Dan currently serves on the boards of Sero Mental Health and Care Predictor, is a founder and advisor to the Sero Scientific Advisory Board, sits on the Steering Committee for the Behavioral Health Outcomes Consortium, and serves on the Innovation Committee Board of the Meadows Mental Health Policy Institute.

Fun fact: Dan is a lifelong angler who grew up sportfishing and has cast a line in waters all over the world – from remote fly fishing destinations to deep-sea pursuits on multiple continents. Whether he’s chasing trophy fish or closing complex transactions, the same instincts apply: preparation, patience and knowing the waters you’re in.

Brad has over 13 years of healthcare investment banking experience, executing a multitude of M&A and strategic advisory transactions across physician services, behavioral health, post-acute, healthcare staffing and other key healthcare sectors.

Prior to Northborne, Brad was a Vice President at Fifth Third Securities where he advised private equity backed and closely-held businesses on complex M&A transactions. He began his career as one of the original members of Coker Capital Securities, which was acquired in 2018.

Brad earned a BA in Economics and Commerce from Hampden-Sydney College.

Fun fact: Brad was a four-year starter of the varsity lacrosse team at Hampden-Sydney College.