BIP Ventures Evergreen BDC portfolio company Peregrine Health is a tech-enabled behavioral health provider expanding access to quality care in underserved communities. The company has announced the appointment of Adam Peebles as CEO, succeeding founder Ryan Chapman, who now serves as Executive Chairman.
Before taking the helm as CEO, Peebles served as President of Peregrine since early 2024. During that time, he was instrumental in the company's transformation into a managed services organization for behavioral health in Federally Qualified Health Centers (FQHCs) and Community Health Centers (CHCs). The Peregrine model embeds clinicians, technology, and operational support directly into clinics, equipping safety-net providers to meet the surging demand for behavioral health services without overburdening their internal teams. Peregrine has tripled topline revenue over the past 12 months and increased its clinical footprint to over 300 clinics across 17 states. The company is on track to hire more than 50 providers in 2025.
Peebles is no stranger to high-growth health ventures. He has held leadership roles at Hatch and Trilliant Health, companies dedicated to helping healthcare organizations improve patient access and referrals. He also has a track record of building culture-rich, performance-driven teams. Since joining Peregrine, Peebles has helped define the company's strategy and earned the trust of clinicians, clinic partners, and investors alike.
"My focus as CEO is on scaling our reach, continuing to innovate through technology, and delivering sustainable growth without losing sight of our mission. We're just getting started." (Adam Peebles, CEO, Peregrine Health)
Peebles leads a team with deep startup experience and operational chemistry. Many executives have scaled and exited companies together before. That shared background has created a high-performing, mission-driven culture where everyone shares a commitment built on the belief that "every second counts."
Founder Ryan Chapman's move to Executive Chairman reflects a thoughtful succession plan. Chapman founded Peregrine to expand access to behavioral health care in underserved communities. He remains an active partner in shaping the company's strategy.
"Adam's leadership has been nothing short of exceptional. He's helped drive our expansion while staying focused on our mission," said Chapman. "I have full confidence in his ability to lead Peregrine into its next chapter."
Chapman continues to serve as Executive Chairman of the board and is invested in the company through Chapman Capital. Alongside Chapman, the Peregrine board includes BIP Ventures Vice President R.T. Wyatt and Martin Ventures CEO Devin Carty.
Peregrine's platform delivers a fully integrated behavioral health solution for clinics, combining clinical expertise, operational infrastructure, and proprietary technology. The company uses AI solutions to improve utilization and patient engagement, with a focus on reducing administrative burden and enhancing care. This focus has allowed Peregrine to differentiate itself in a crowded behavioral health space. While others pivoted to hospital systems and payors, Peregrine doubled down on community health. That clarity has earned Peregrine a leadership position in the FQHC segment and a scalable business model.
Since 2023, BIP Ventures has supported Peregrine from the Evergreen BDC, offering both capital and strategic guidance on operations and product development. Wyatt and the BIP Ventures team have been instrumental to the company's momentum and success.
"We backed Peregrine because we believed in the team, the model, and the mission. Adam is the right leader to take it from here." (R.T. Wyatt, Vice President, BIP Ventures)
With investor backing, a unique model, and strong leadership, Peregrine is well-positioned to continue building a national infrastructure for equitable, tech-enabled behavioral healthcare. The company plans to expand into new markets, double its clinical team by 2026, and continue investing in product development. Peregrine is a mission-driven company with growth momentum and strong business fundamentals. For FQHC leaders, Peregrine is a committed partner, equipped to deliver behavioral health services at scale. For individuals seeking work in this vital space, it's a chance to join a high-growth team making a real difference.
Learn more or get involved at www.peregrinehealth.com.
