Transactions: BayMark’s Latest Acquisition; Pharos Capital’s Platform Grows Autism Footprint

BayMark acquires Limestone Health

BayMark Health Services, one of the nation’s largest medication-assisted treatment (MAT) companies, has acquired Limestone Health, an Indiana-based opioid treatment provider (OTP).

Financial terms of the deal were not disclosed.

Headquartered in Lewisville, Texas, BayMark is a private equity-backed provider of MAT services for opioid use disorder (OUD). Owned by Webster Equity Partners, the company has dozens of locations across the U.S. and Canada, currently treating more than 57,000 patients across North America.

Meanwhile, Limestone has locations in Bloomington and Lafayette, Indiana, where it offers outpatient methadone MAT, medication management and substance abuse counseling. It was previously owned by Springstone, a nationwide network of more than 30 mental health facilities.

Limestone’s programming will now fall under BayMark’s MedMark Treatment Centers brand.

Pharos Capital’s Family Treatment Network acquires Catalyst Behavioral Solutions

Family Treatment Network (FTN), a PE-backed provider of child and adolescent behavioral health services, has acquired Catalyst Behavioral Solutions, a Utah-based company that treats autism and other behavioral conditions.

Financial terms of the transaction were not released.

Backed by the PE firm Pharos Capital Group, FTN is a complimentary platform of behavioral health business, which include everything from residential therapy centers and therapeutic day schools to community-based outpatient programs and more. It has an emphasis on applied behavioral analysis (ABA) specifically.

Catalyst will help FTN bolster its autism offerings. Based in Layton, Utah, the company treats autism and other behavioral conditions using evidence-based, data-driven treatments such as ABA.

Catalyst is FTN’s seventh acquisition so far — and the platform’s first outpatient behavioral health provider in the state of Utah, where FTN previously only operated an adolescent residential treatment center. 

First Children Services to acquire Exceptional Learning LLC

First Children Services, a provider of health and special education services in New Jersey and Pennsylvania, has entered into a definitive agreement to acquire the interests of Exceptional Learning LLC, a Pennsylvania-based ABA provider. 

Financial terms of the transaction were not released.

The deal expands First Children Services’ STRIVE Autism Care Continuum. As a result, the provider will now serve more than 1,300 children across New Jersey and Pennsylvania in school- , home- , community- and clinic-based settings. The company’s offerings include everything from diagnostics and assessment to treatment and other services.

Penn Foundation to join St. Luke’s University Health Network

Penn Foundation — a Sellersville, Pennsylvania-based behavioral health provider — is planning to join St. Luke’s University Health Network.

Financial terms of the deal, which is pending approval from state regulators, have not been announced.

If the transaction is approved, the partnership would create the largest nonprofit network of inpatients and outpatient behavioral health facilities in Eastern Pennsylvania, according to the Penn Foundation.

The providers expect to have a decision from the state on the deal by early 2021.