Three addiction treatment companies merge to form BlueCrest Health Group
BlueCrest Recovery Center, QuickSilver Counseling Center, and Assess With Guidance have merged to form BlueCrest Health Group to support the operations of these New Jersey-based outpatient addiction treatment facilities.
Collectively, BlueCrest Health Group offers partial hospitalization programs (PHP), intensive outpatient programs (IOP) and outpatient therapy. BlueCrest Recovery Center in Woodland Park, New Jersey, is the flagship location of BlueCrest Health Group.
New Providence-based QuickSilver Counseling Center and Fanwood-based Assess With Guidance were launched earlier this year. BlueCrest Recovery Center was founded in 2016.
The addiction treatment sector typically sees a large volume of deals. New research from The Braff Group shows that deals in this sector have been flat in recent years.
ARC Health continues M&A spree with two acquisitions
Thurston Group-backed ARC Health has acquired Atlanta-based GROW Therapy and Twin Cities, Minneapolis-based LynLake Centers for Well Being.
These two deals bring ARC Health’s total count of publicly announced acquisitions to 15 since its formation in August 2021.
GROW Counseling operates five locations in Georgia and offers telehealth counseling in Florida, North Carolina and Virginia. The company also operates the GROW Counseling Network, a B2B-focused enterprise that connects employers with mental health services in 46 states.
LynLake Centers for WellBeing operates 14 locations in St. Paul and Minneapolis, Minnesota. On top of counseling, it offers ketamine-assisted therapy and nonclinical interventions such as Reiki, yoga and acupuncture.
One essential part of the ARC Health-Thurston Group approach to M&A is ensuring that founders and key clinicians remain with the company post-merger. The company does so partly by allowing participation in an equity program within ARC Health.
Agenda Health advised the LynLake Centers for WellBeing deal. Mertz Taggart advised the GROW Counseling deal.
Prime Providers acquires Right Choice In-Home Care
Specialty health care provider Prime Provider has acquired Canoga Park, California-based Right Choice In-Home Care.
Culver City, California- based Prime Provider operated an autism therapy provider called Inspira Behavior and a private duty nursing provider called Prime Home Health before the deal closed.
Prime Provider funded the deal with an equity and debt investment from The Firmament Group. The terms of both acquisitions were not disclosed. The Firmament Group is an entity of London-based McLarty Capital Partners UK LLP.
Adding Right Choice In-Home Care, which provides intellectual/developmental disability (IDD) personal care and respite services, to Prime Providers increases Prime’s home care services to adult and pediatric patients.
Intrepid Investment Bankers advised Prime Partners during the deal.
Praesum Healthcare Services acquires Philadelphia addiction treatment provider
Lake Worth, Florida-based Praesum Healthcare Services announced the acquisition of Philadelphia-based addiction treatment provider Beacon Point Recovery Center.
The move expands Praesum Healthcare into a new state market. It also marks the company’s interested in continue growth via M&A and other strategies, including seeking private equity funding.
Beacon Point Recovery Center operates a 30-bed detox facility in Philadelphia, near the Temple University Medical campus in Kensington, and 90 recovery beds across the region.
Praesum Healthcare Services operates in six states — Massachusetts, New York, New Jersey, Pennsylvania, Georgia and Florida.
The company presents itself as operating under a managed services organization model. Praesum Healthcare centralizes ancillary business services, taking those services off the plate of local providers, according to a news release.