Two Ohio-based addiction treatment providers have officially joined forces, as Sunrise Treatment Center has completed its purchase of Port 45 Recovery.
Terms of the deal, which was finalized effective September 22, were not disclosed.
“Sunrise is grounded in two guiding principles: providing high-quality, comprehensive addiction treatment services to its patients, and implementing best practices to employ people in a way that is equitable and life-sustaining,” Jeffrey Bill, the founder and CEO of Sunrise, said in a statement. “We are thrilled to be adding a company in Port 45 that perfectly matches our culture and allows us to expand our menu of outpatient services in a complementary way.”
Founded in 2007, Cincinnati-based Sunrise primarily focuses on treatment for opioid use disorder (OUD), operating seven clinics in southwestern Ohio as well as one in Florence, Kentucky, which is in the greater Cincinnati area. Sunrise’s offerings include medical and somatic services, outpatient medication-assisted treatment (MAT), individual and group counseling, urine toxicology, case management and crisis intervention.
Port 45 Recovery, which was founded in 2016, operates two Ohio centers — with one in Columbus and the other in Portsmouth, which is located along the Ohio River east of Cincinnati. The provider offers treatment through a variety of services including partial hospitalization (PHP) and intensive outpatient (IOP) programming, traditional outpatient care, aftercare and recovery housing.
Individual and group counseling are also available through Port 45, along with access to MAT drugs such as suboxone and vivitrol.
“Sunrise implies the core values and heart for the patient that Port 45 has been so known for,” Port 45 CEO Sharon Staley said in the press release. “This union will allow both companies to merge their passion into one and become a treatment center with many more capabilities to address this horrible disease of addiction.”
As part of the transition, Bill told the Cincinnati Business Journal that Staley will leave her post as Port 45’s CEO and that Sunrise plans to keep the remaining leadership team and employees. Port 45 has a staff of 50 employees.
Sunrise is backed by Bridges Fund Management, a middle-market private equity fund that specializes in impact investments in health care sector companies, in addition to those in education, energy and environmental services.
Headquartered in London, Bridges’ American operations are based in Stamford, Connecticut.
“The combination of Sunrise and Port 45 will provide the residents of Ohio and Kentucky with a high-quality, comprehensive treatment option that is fresh, innovative, and efficient,” Ed Niemczyk, a partner at Bridges, said in the press release. “The resulting model will further cement Sunrise as a leading provider of addiction treatment in the United States and a model in which can be expanded nationwide.”
MelCap Partners, a Medina, Ohio-based investment banking firm, advised Port 45 in its sale to Sunrise.