Centerstone, one of the nation’s largest not-for-profit behavioral health care providers, signed a letter of intent to affiliate with Seven Counties Services, the largest not-for-profit behavioral health care provider in the Louisville, Kentucky area. Seven Counties employs nearly 1,400 clinical and administrative staff and delivers services to more than 34,000 people each year.
This merger will create an organization with 181 locations in Florida, Illinois, Indiana, Kentucky and Tennessee, with approximately $310 million in annual revenues. It will employ more than 4,500 people and serve an estimated 150,000,000 individuals of all ages. It will change its name to Centerstone Kentucky when this transaction is completed, around mid July.
This is Centerstone’s third merger in the past 12 months. In May 2015, two Illinois-based behavioral health care providers, Prairie Center and WellSpring Resources, joined Centerstone’s Illinois operations. In July, Centerstone announced Manatee Glens, a not-for-profit treating individuals with mental health and addiction disorders, would become its first Florida-based operation.
