Constellation Behavioral Health, LLC became the fourth healthcare services company in New MainStream Capital’s portfolio on May 19. Constellation joins Anne Arundel Dermatology, MCCI Medical Group and Suncrest Home Health. Based in Mill Valley, California, Constellation offers specialized inpatient and outpatient treatment programs for addiction, mental health and co-occurring behavioral health disorders. Founder and CEO William Morrison will retain a minority stake.
Constellation operates two facilities in California: Alta Mira and Bridges to Recovery. Alta Mira is a 30-bed facility in Sausalito, California with 30,000 square feet. Bridges to Recovery is a 12-bed facility in Los Angeles. New MainStream anticipates providing additional equity capital to support Constellation’s future growth, through strategic acquisitions and de novo facility openings.
Coker Capital Advisors served as exclusive financial advisor to Constellation, and Perkins Coie LLP served as legal advisor. McDermott Will & Emery provided legal advice to New MainStream Capital.