Carl Marks Securities LLC, an affiliate of middle market investment bank Carl Marks Advisors, announced that it advised Cornerstone Treatment Facilities Network on its sale to New York-based Aurora Health Network.
Carl Marks previous experience in addiction and behavioral healthcare services includes the financial restructuring of American Addiction Centers and positioning that company for long-term growth with a new board of directors. Financial terms of the private transaction were not disclosed.
Founded in 1936, Cornerstone Treatment Facilities Network is an employee-owned addiction care provider with locations in Fresh Meadows and Rhinebeck, New York in the Hudson Valley. A state-regulated and licensed provider, Cornerstone specializes in medically supervised inpatient drug and alcohol withdrawal and stabilization services as well as medically supervised inpatient rehabilitation services.
Aurora Health Network is a healthcare-focused real estate investment firm managing facilities throughout the United States.
According to data captured from the LevinPro HC database, this represents the 101st Behavioral Health Care (BHC) transaction of 2022, and the 42nd announced in the substance use disorder subsector. This is a slight decrease from January 1, 2021, through December 20, 2021, when 121 BHC and 47 substance use disorder transactions were announced.
