Praesum Healthcare Services announced on August 4 that it entered the M&A market for the first time with the acquisition of Beacon Point Recovery Center. The financial terms of the deal were not disclosed.
Beacon Point Recovery Center provides substance use disorder (SUD) treatments. It has a 20-bed detox facility and 92 residential beds in the Philadelphia metro area.
Praesum Healthcare Services is a privately-owned SUD provider with more than 30 locations across New Jersey, New York, Massachusetts, Florida and Georgia. Praseum operates across five states and plans on adding one additional state in 2024. Its services include detox, inpatient, counseling and residential care. Praesum operates on a managed services organization model.
Drew McCartney, CEO of Praesum Health, said that the company expected to acquire another practice before the end of the year. It also expects to be sponsored by a private equity group in 2024.
According to data captured in the LevinPro HC database, this transaction represents the 44th Behavioral Health Care (BHC) acquisition of the year and 13th in the SUD specialty. These deal totals are a decline from the year before when there were 71 BHC and 27 SUD acquisitions announced from January 1, 2022, and August 4, 2022.
