Substance abuse treatment is still attracting investors’ attention, even in the COVID-19 pandemic. In April, BRC Recovery Family of Programs, an addiction services provider, received a joint investment from Veronis Suhler Stevenson (VSS) and NewSpring Health Capital. Terms of the deal were not disclosed.
The joint investment creates a new platform for addiction treatment, known as BRC Healthcare. The new entity serves as the holding company for the BRC Recovery Family of Programs and future acquisitions.
BRC Healthcare provides individualized, gender-specific treatments to adults aged 17 and over with substance use disorders such as alcoholism, drug dependence, and other addiction disorders. Founded in 2006, the Austin, Texas-based company offers the full continuum of care from detox and intensive outpatient services to residential treatment to sober living, through its four high-quality clinical programs: BRC Recovery, Spearhead Lodge, Makana Path and Segue Recovery.
In February, VSS exited Ascent Behavioral Health, a wilderness therapy company it sponsored together with Monroe Capital. Cimmaron Capital was the buyer, making its first foray into the Behavioral Health Care sector. Its other healthcare investments include Caravan Health, a provider of value-based care advisory services to hospitals and physician practices, and Endo1 Partners, an endodontic partnership organization providing comprehensive business and operational support services to endodontics practices.
Within the behavioral health market specifically, NewSpring has made investments in SUN Behavioral Health, Community Education Centers, and Habit Management, each with their own specializations but all associated with patients requiring treatment for substance abuse.
