King of Prussia, Pennsylvania-based Recovery Centers of America has acquired the Bryn Mawr, Pennsylvania-based mental health and addiction treatment provider Adolescent & Young Adult Advocates.
Recovery Centers of America said the acquisition will help address early-stage addiction in outpatient settings. Adolescent & Young Adult Advocates will now have the name Adolescent & Young Adult Advocates, Recovery Centers of America. The terms of the deal were not disclosed.
Adolescent & Young Adult Advocates offers a comprehensive outpatient treatment program for substance use disorder, anxiety, depression and other mental health issues. It focuses on serving youth aged 14 to 26 in the Philadelphia area.
Recovery Centers of America was launched in September 2015 by real estate developer J. Brian O’Neil. The company operates 10 inpatient addiction treatment facilities in Illinois, Indiana, Maryland, Massachusetts, New Jersey and Pennsylvania. It also operates a growing number of mental health services locations within its centers and in separate offices. The company secured $231.5 million from the New York City-based health care investment firm Deerfield Management Co. in 2015 and another $100 million in 2016.
According to the LevinPro HC database, this marks the 16th Behavioral Health Care (BHC) transaction of 2023 and the fourth in the substance use disorder specialty. There were 27 BHC and 14 substance use disorder deals announced between January 1, 2022, and March 10, 2022.
