Vertava Health announced on May 15 that it sold three addiction treatment centers to Regard Recovery.
The substance use disorder centers are now known as Texas Recovery Center in Scurry, Texas; Swift River in Cummington, Massachusetts; and The Bluffs in Sherrodsville, Ohio.
The acquisition of these three centers is part of a scale-back and pivot strategy for Vertava Health as it will allow the company to expand its mental health business and adjust its addicted treatment business trajectory. The acquisition expands Regard Recovery’s state footprint. Before the deal, Regard Recovery operated in Florida, Kentucky, New Jersey, Pennsylvania, Tennessee and West Virginia.
According to the LevinPro HC database, this acquisition represents the 30th Behavioral Health Care (BHC) transaction of the year and the seventh in the substance use disorder specialty. This is a noteworthy decrease from the year before (January 1, 2022, through May 15, 2022) when 46 BHC and 19 substance use disorder transactions were reported.
