Transactions: BayMark Expands Residential Footprint; AMFM Scores Additional PE Investment

HCAP Partners invests in AMFM Healthcare

HCAP Partners, a California-based private equity firm, has invested more money into AMFM Healthcare, a mental health treatment provider.

Terms of the follow-on investment were not disclosed, nor was the amount of money HCAP has previously invested into the company.

Headquartered in San Diego, California, HCAP provides mezzanine debt and private equity funding to underserved, lower-middle market companies across California and the Western U.S. Meanwhile, AMFM is based in Orange County. It provides a variety of mental health offerings across the continuum of care, from residential and outpatient treatment to telehealth.


The new funding will help AMFM support employee development and engagement as the company expands operations in the San Diego and Washington, D.C. areas, according to a press release announcing the news. Additionally, as part of the investment, HCAP Managing Partner Tim Bubnack will join AMFM’s board of directors, and HCAP Principal Bhairvee Shavdia will join as a board observer.

BayMark acquires Hope for Tomorrow

BayMark Health Services, one of the nation’s largest medication-assisted treatment (MAT) companies, has acquired Hope for Tomorrow, a residential and office-based opioid treatment program (OTP).

Terms of the transaction were not released.


Headquartered in Lewisville, Texas, BayMark has more than 250 clinics across the US and Canada. The provider, which is owned by Webster Equity Partners, offers outpatient care, residential treatment, detox services and office-based OTPs.

Meanwhile, Hope for Tomorrow is based in Point Pleasant, West Virginia. It has three outpatient office-based OTPs, as well as one one residential facility that treats a multitude of substance use disorders (SUDs).

The deal comes just a few months after BayMark first broke into the residential treatment market with the acquisition of Liberty Bay Recovery Center in Portland, Maine, in late 2020. 

The addition of Hope for Tomorrow will further propel BayMark’s mission to increase access to treatment options in underserved areas, according to a press release announcing the news.

“The continued expansion of our ability to offer evidence-based, quality care for substance use disorders is gratifying during a time when they are so badly needed,” Mike Saul, BayMark division president said in the press release. “Maintaining the quality of care established by the Hope for Tomorrow medical team will be our priority as we look to how we can enhance those services.”

Sanare Today acquires Pace Inc.

Sanare Today, a Pennsylvania-based behavioral health provider, has acquired Pace Inc., a Delaware-based SUD treatment center, according to Mertz Taggart, which provided sell-side M&A advisory services for the transaction.

Terms of the deal were not disclosed.

Sanare Today offers intensive outpatient therapy and coaching for a variety of mental health conditions and SUDs, including dual diagnoses. It has at least eight locations across Pennsylvania.

Meanwhile, Pace has been a family-owned business for more than 30 years. It has three Delaware locations and offers in-person and telehealth-based SUD treatment, offering services such as intensive outpatient, partial hospitalization and outpatient offerings.

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