Minneapolis-based Meridian Behavioral Health, a portfolio company of Audax Private Equity, is now the largest provider of behavioral health care services in Minnesota.
Meridian provides care to individuals suffering from substance use disorders with co-occuring mental illness. On October 25, it announced the acquisition of New Beginnings Minnesota, which provides inpatient and outpatient substance abuse care. Financial terms were not disclosed.
New Beginnings’ residential campuses are supported by six outpatient clinics located in Minnetonka, Elk River, Litchfield, Olivia, St. Peter, and Worthington, Minnesota. The transaction makes Meridian the largest provider of behavioral health services in the state.
Nationwide, Meridian now operates more than 30 inpatient and outpatient facilities across five states, employing more than 1,200 people who help more than 13,000 patients annually.
This is the company’s third deal announced in 2017, and its fifth overall. In April, Meridian acquired Pine Grove, based in Elgin, South Carolina, which provides services for children with autism and intellectual disabilities.
In August, it acquired Charleston, West Virginia-based Highland Hospital, an 80-bed psychiatric facility; Highland Health Center, a 16-bed psychiatric resident treatment facility for children and adolescents; and Process Strategies, an integrated behavioral healthcare and pharmacy services outpatient provider, from HHA Inc.
In 2016, Meridian acquired Valhalla Place in St. Paul, Minnesota, operating the state’s last medication-assisted treatment program for substance abuse, and Serenity Acres, an inpatient drug and alcohol rehabilitation center located in Crownsville, Maryland, just outside of Annapolis.
