Banyan Treatment Centers’ new CEO, John Sory, is tasked with leading the organization through its next growth phase.
Sory succeeds Joe Tuttle, the founder of the Pompano Beach, Florida-based addiction treatment provider. Tuttle will step into a board director role after a transition period. Sory takes on the CEO role, effective July 17.
Sory’s appointment comes about a month after the Rise Fund, a part of the San Francisco-based TPG Capital, invested an undisclosed amount in Banyan Treatment Centers.
“In a situation where less than 8% of those suffering from SUD are receiving the treatment they need, we see a tremendous opportunity and responsibility to address this underserved population,” Sory told Behavioral Health Business. “Our plan is to broaden our capabilities, reach, staff, and capacity to improve access.”
Banyan Treatment Centers operates 16 locations in eight states. Its services include outpatient, intensive care, residential, inpatient and medical detox services.
Sory didn’t specify what initiatives the company has in place as he steps into the role. However, he did say that the company is “open to any and all organic and inorganic growth opportunities.”
This may include expanding the company’s eating disorder treatment service line. In December 2021, the company announced it had launched the service in Pennsylvania.
“You can be assured that Banyan will be at the forefront of marrying need, opportunity and value where the opportunity exists,” Sory said.
Sory comes to the role from Vohra Wound Physicians. Trivest Partners, a private equity firm, owns Vohra.
Other roles on Sory’s resume include CEO of the University of Miami Health System’s Regional Alliance, Executive Vice President and Chief Development Officer of eResearch Technology and several leadership positions during a 15-year stint at Pfizer Health Solutions.
“[Our] people and our patients will benefit immensely from John’s 30 years of experience managing and growing health programs,” Tuttle said in a statement.
Sory was recruited for the role by a search firm. He declined to name it. His hiring was made in connection with The Rise Fund’s investment.
“In connection with The Rise Fund’s recent investment, Joe (Tuttle) was clear about his desire to transition into a strategic role on the board of directors and work with Rise to seek out and hire an experienced business builder and operator who could carry the momentum from what Joe and the team had built from scratch,” Sory told BHB.
Banyan Treatment Centers came onto Sory’s radar about a year ago. He had become familiar with the behavioral health industry throughout his career. But now he’s eager to work where he can have a role in addressing the nation’s behavioral health crises.
In Sory’s reading, the company differentiates itself through its higher-than-average patient outcomes and lower-than-average lengths of stay. Meeting Banyan Treatment Center’s leaders and some of its employees helped seal the deal on making the move.
Sory also says much of his work experience will translate well as he moves into a new industry.
“Having said that, I’ve always believed that only a team approach drives the best results. It’s never about one kind of intervention or one intervention modality; it’s best when a multidisciplinary team approach,” Sory said.