BayMark adds first U.S.-based residential facility
BayMark Health Services — a North American medication-assisted treatment (MAT) provider — has acquired its first U.S.-based residential treatment facility.
Earlier this month, BayMark added Portland, Maine-based Liberty Bay Recovery Center to its portfolio. Financial terms of the deal were not announced.
Headquartered in Lewisville, Texas, BayMark has more than 250 locations offering a variety of treatment modalities. Owned by Webster Equity Partners, the company currently treats more than 57,000 patients across North America.
Until now, BayMark only had one residential treatment facility: Greenestone Muskoka, located in Bala, Ontario. Liberty Bay is the provider’s second residential location — and it’s first in the U.S.
“As BayMark expands our continuum of care, what we’re really expanding is our ability to help each of those patients find the type and level of care that is right for them on their path to recovery,” BayMark CEO David White said in a press release announcing the news.
Liberty Bay offers treatment for opioids, alcohol, cocaine, methamphetamine, prescription drugs and other substances. It provides various levels of care, from residential to partial hospitalization and intensive outpatient treatment, in addition to other services.
The facility will compliment BayMark’s existing MAT locations in Portland and Lewiston, Maine.
BayMark acquires Pennsylvania OTP
On top of its new residential facility in Maine, BayMark has also acquired Echo Treatment Center, an opioid treatment provider in Washington, Pennsylvania.
Terms of the deal were not disclosed.
Echo offers outpatient MAT with methadone, along with SUD counseling and education. The facility and its programs will fall under BayMark’s MedMark Treatment Centers brand.
Destination Hope being acquired out of bankruptcy
Pomona, New York-based Regard Recovery has acquired Destination Hope — a Fort Lauderdale, Florida-based SUD treatment provider — following a bankruptcy auction, according to the South Florida Business Journal.
Destination Hope has two locations in Fort Lauderdale and one in Tamarac, Florida. The company filed Chapter 11 bankruptcy in September.
Regard Recovery purchased the company’s assets with a $4.8 million auction bid. Destination Hope’s operations will continue under the new ownership.
Numinus Wellness acquiring Mindspace Psychology Services
Numinus Wellness, a mental health and wellness provider, has acquired Mindspace Psychology Services, which provides psychedelic programming. Both companies are based in Canada, with Numinus located in Vancouver and Mindspace based in Montreal.
Financial terms of the deal were not announced.
The goal of the transaction is to allow Numinus Wellness to expand its psychedelic-assisted psychotherapy offerings. Plus, it will get the ball rolling for global growth of Numinus, according to CEO Payton Nyquvest.
“This is a first and major step forward in our plan for global expansion of revenue-generating clinics and virtual therapy with the objective of health and wellness for all,” Nyquvest said in a press release announcing the news.
According to the press release Numinus is the first the public company in Canada to “receive a license to produce and extract psilocybin from mushrooms, the first to complete a legal harvest of psilocybe mushrooms using this license, and the holder of a Health Canada dealer’s license to import, export, possess, test and distribute MDMA, psilocybin, psilocin, DMT, and mescaline.”
The deal news comes after Numinus generated $1.7 million in revenue over the past 12 months.