Discovery Behavioral Health acquires Prosperity Wellness Center Discovery Behavioral Health — PE-backed network of behavioral health centers — has acquired Prosperity Wellness Center — a 40-bed residential SUD treatment facility in Tacoma, Washington. Financial terms of the transaction were not announced. Headquartered in Orange County, California, Discovery is a portfolio company of Webster Equity Partners. […]
Category: Finance
Pinnacle Treatment Centers expands in Ohio Pinnacle Treatment Centers has opened a new opioid treatment program (OTP) in Sandusky, Ohio. The addition marks the provider’s 15th location in the state. Headquartered in New Jersey, Pinnacle provides the full range of medication-assisted treatment (MAT) services. It has more than 115 locations across eight states and specializes […]
Centene Corporation (NYSE: CNC) — a managed care organization (MCO) — has entered into a definitive agreement to buy Magellan Health (Nasdaq: MGLN) — an MCO and provider of behavioral health services. The goal of the $2.2 billion deal is to bolster Centene’s behavioral health offerings. The transaction, which is expected to close in the […]
President Donald Trump has signed a $2.3 trillion stimulus bill into law. Signed Dec. 27, the legislation includes billions in behavioral health funding. The relief package includes an additional $4.25 billion in funding for the Substance Abuse and Mental Health Services Administration (SAMHSA) on top of regular fiscal year 2021 spending. That funding will be […]
The Center for Autism & Related Disorders (CARD) is currently the largest autism treatment provider in the world, with 235 locations across 27 states. But the 30-year-old company wasn’t always the behemoth that it is today. In fact, CARD founder and executive director Doreen Granpeesheh attributes much of the company’s success to being in the […]
Acadia Healthcare (Nasdaq: ACHC) has entered into a definitive agreement to sell its United Kingdom business, the company announced Dec. 30. Waterland Private Equity has agreed to purchase the assets for about 1,078 million pounds, or $1.47 billion. The deal will generate approximately $1.35 billion in proceeds for the behavioral health behemoth, according to a […]
Congress has passed a new $2.3 trillion stimulus bill, which includes billions in funding for behavioral health programs and initiatives. The legislation, which passed Monday night, is now headed to President Donald Trump, who is expected to sign it into law. The new relief package includes $4.25 billion in funding for the Substance Abuse and […]
BayMark adds first U.S.-based residential facility BayMark Health Services — a North American medication-assisted treatment (MAT) provider — has acquired its first U.S.-based residential treatment facility. Earlier this month, BayMark added Portland, Maine-based Liberty Bay Recovery Center to its portfolio. Financial terms of the deal were not announced. Headquartered in Lewisville, Texas, BayMark has more […]
American Addiction Centers (AAC) has started a new chapter in the company’s history. After years of financial struggles and a Chapter 11 bankruptcy filing, the substance use disorder (SUD) treatment provider recently completed a financial reorganization. The restructuring has helped AAC reduce its debt load by about $500 million and position the company for its […]
Kindred enters JV to add new behavioral, rehabilitation hospital Kindred Healthcare has entered into a joint venture with Antelope Valley Hospital to build and operate a new hospital in northern Los Angeles County. The 125,000-square-foot facility will have 96 behavioral beds and 25 acute inpatient rehabilitation beds. Headquartered in Louisville, Kentucky, Kindred is a specialty […]
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