Substance use disorder (SUD) treatment provider BayMark Health Services has acquired Granite Recovery Centers, a Salem, New Hampshire-based operator of residential treatment facilities and sober homes.
The deal expands BayMark’s sizable footprint across North America, as it operates over 300 facilities in 35 states and three Canadian provinces.
Headquartered in Lewisville, Texas, BayMark is backed by private equity firm Webster Equity Partners and offers a wide continuum of addiction care, which includes medication-assisted treatment (MAT), SUD counseling and residential treatment. Intensive outpatient (IOP) and partial hospitalization (PHP) programming is also available to BayMark patients, along with sober living options and withdrawal management services that are conducted on an inpatient and outpatient basis.
In announcing the deal, BayMark pointed to the nationwide epidemic of opioid use disorder (OUD) – which has intensified during the pandemic – and the care models the provider offers to patients, which involve a choice of treatment between MAT drugs like suboxone and abstinence-based support.
“Throughout the year, those of us in the behavioral health industry have witnessed the unfortunate impact the COVID-19 pandemic had on the mental health and well-being of Americans,” BayMark CEO David White said in a press release announcing the purchase.
More than 75,000 Americans died from opioid-related overdose deaths during a 12-month period ending in April 2021, the Centers for Disease Control and Prevention reported last month.
“Our programs offer a choice of proven treatment options so patients can decide between an abstinence-based treatment model or the use of medications, along with counseling, at a variety of levels of care available to serve each patient’s unique needs,” White added.
Like BayMark, Granite Recovery Services offers IOP and PHP to patients, along with MATs to treat OUDs involving illicit drugs like heroin and fentanyl. Granite operates two residential facilities in addition to a number of sober homes, and its care modalities – which serve residents in southern New Hampshire and across New England – include psychotherapy and 12-step programs.
The acquisition of Granite Recovery Services also ups BayMark’s presence in New Hampshire, as it already operates MAT facilities in the towns of Salem, Hudson, Newington and Somersworth.
Covington Associates Investment Banking and law firm Nixon Peabody LLP advised Granite Recovery Centers throughout the course of its sale.
Financial terms of the deal were not disclosed.
Companies featured in this article:
BayMark Health Services, Covington Associates Investment Banking, Granite Recovery Centers, Nixon Peabody LLP, Webster Equity Partners
