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Stella Foundation
Stella is a mental health clinic chain co-founded by Michael Gershenzon and Dr. Eugene Lipov with over a dozen US locations and international operations.
Stella Foundation
Michael Gershenzon, a former investment banker at RBS and private equity associate at Sterling Partners, co-founded Stella with Dr. Eugene Lipov. Lipov pioneered the Stellate Ganglion Block (SGB) for PTSD treatment in 2006. The firm does not disclose its founding year or capital sources, but its CEO's background in healthcare investing and clinic acquisitions suggests private capital backing. Stella's business is operating a chain of psychiatry clinics that provide Spravato (esketamine), transcranial magnetic stimulation (TMS), ketamine therapy, and SGB. The company has built a national footprint with clinics in Illinois (Westmont, Oak Park), Massachusetts (Boston), California (Los Angeles, Santa Monica, Encinitas, Irvine, San Diego), and Utah (Murray, Draper, American Fork, Layton, Springville). It also operates in Israel and Australia. The model is insurance-based and direct-to-patient, with concierge coordination for referring providers. The executive team includes Chief Operating Officer Jason Lapensee, former COO of a Canadian dental service organization acquired by Stella, and Chief Strategy Officer Moss Schermerhorn. The clinical leadership includes Chief Psychiatric Officer Brian W. Boyle, MD, who maintains an attending role at McLean Hospital. Recent activity: Stella has been expanding its Utah footprint, adding multiple locations in 2024 (per firm website). Stella operates as an operating company in the mental health space, not a family office. Its structural differentiator is the integration of advanced interventional psychiatry protocols — particularly SGB — into a scalable, multi-state clinic network, with a global expansion ambition that is rare among standalone mental health providers.
General information
Firm type
other
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Additional offices
San Francisco, CA · Solana Beach, CA · Austin, TX
Principals
Michael Gershenzon
CEO and Co-Founder
Dr. Eugene Lipov
Co-Founder and Chief Medical Officer
Sector focus
Frequently asked questions
Who makes investment and strategic decisions at Stella?
CEO and Co-Founder Michael Gershenzon, CFA, runs the company. He previously worked in investment banking at RBS and private equity at Sterling Partners. Dr. Eugene Lipov serves as Chief Medical Officer and co-founder, focusing on the clinical protocol.
How does Stella source deal flow for clinic acquisitions?
Stella's COO Jason Lapensee previously built one of Canada's largest dental service organizations, which Stella later acquired. The company targets acquisitions of existing mental health clinics to expand its national network.
Is Stella structured as a family office or an operating company?
Stella is an operating company — a mental health clinic chain. It does not present itself as a family office, asset manager, or investment vehicle. Its website focuses entirely on patient services.
Does Stella raise external capital or only use internal funds?
Stella does not publicly disclose its capital structure. The CEO's background in private equity and the company's multi-clinic acquisition pattern suggest external capital likely backs the network.
What investment stages does Stella target?
Stella targets operational growth through clinic acquisitions and de novo openings, not investment stages typical of fund managers. It operates in the healthcare services sector.
Which sectors does Stella explicitly avoid?
Stella does not invest in any sectors outside of mental health care delivery. Its entire focus is psychiatry and interventional treatment.
How is Stella related to any parent entity or family office?
Stella does not disclose a parent entity, family office, or backer. The firm's website and public materials show it as an independent operating company.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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