Eating disorder treatment provider Monte Nido & Affiliates has completed its acquisition of Walden Behavioral Care, more than a month after purchase was originally announced.
The completion of the deal was announced Friday, with terms of the transaction not made available.
Founded in 2003, Waltham, Massachusetts-based Walden operates 12 programs across Massachusetts, Connecticut and Georgia that provide treatment for eating disorders and psychiatric conditions. Walden treats adults, teens and adolescents and offers inpatient and residential programs along with intensive outpatient (IOP) and partial hospitalization programming (PHP).
The provider also operates the Walden Behavioral Care Center for Recovery, located in Dedham, Massachusetts. The Care Center, which opened last year, is the country’s largest 24-hour inpatient and residential care facility dedicated to eating disorder treatment.
The purchase of Walden was originally announced in late July. Walden is the fifth brand to join the umbrella of Miami-based Monte Nido & Affiliates, which was founded in 1996 and operates over 44 clinics across 13 states, including two in Massachusetts in addition to the Walden programs.
With the acquisition, Walden joins the namesake Monte Nido brand along with Rosewood Centers for Eating Disorders, Clementine Programs and Oliver-Plyatt Centers as affiliates of Monte Nido & Affiliates.
“For decades, Monte Nido & Affiliates has offered outcome-backed, eating disorder programming and we are thrilled that Walden Behavioral Care has now been added to our family of trusted programs,” Monte Nido & Affiliates CEO Candy Henderson said in a press release regarding the deal.
As part of the transaction, Walden founder and CEO Stuart Koman has been appointed as Monte Nido & Affiliates’ chief strategy officer. He will also retain his CEO role with Walden.
“Our team of dedicated professionals have been providing eating disorder and psychiatric treatment for almost two decades; this has been my mission for the past thirty years, and I am excited to continue this with Candy and the Monte Nido & Affiliates family,” Koman said in the press release.
Monte Nido & Affiliates is owned by Levine Leichtman Capital Partners.