Recovery Centers of America Acquires Adolescent & Young Adult Advocates
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... Read More »
Hopewell Health Centers Acquires Life & Purpose Behavioral Health
Hopewell Health Centers, Inc. announced on March 2 that it acquired Life & Purpose Behavioral Health. The deal goes into effect on April 1, 2023. The financial terms were not disclosed. Life & Purpose Behavioral Health’s services include psychiatric supportive treatment, counseling, crisis services, early childhood intervention and psychiatry. It is based in Marietta, Ohio. Hopewell Health Centers is a community health center, providing integrated primary care, dental and behavioral health services. It operates out of 22 locations in nine counties across southeast Ohio. According to data captured in the LevinPro HC database, this acquisition represents the 14th Behavioral... Read More »
Patriot Capital Invests in Turnwell Mental Health Network
Patriot Capital has announced that it has made an investment in Turnwell Mental Health Network. Proceeds from the investment will be used to support the company’s growth. The terms of the deal were not disclosed. Based in Dallas, Turnwell is a clinician-led, integrated mental health group specializing in care for patients suffering from mental health disorders. Turnwell operates multiple freestanding outpatient clinics in Arizona and Montana, with a growth strategy of partnering with clinicians and practices across the country. Patriot Capital focuses on investment opportunities in small and medium-sized, privately-held companies having annual revenues of $10 million to $200 million,... Read More »
Health Connect America Acquires First Home Care, North Star Counseling of Central Florida
Health Connect America, Inc., a portfolio company of Palladium Equity Partners, announced that it has completed the acquisitions of First Home Care and North Star Counseling of Central Florida. These transactions build on Health Connect America’s previous three acquisitions announced in early 2022. Based in Richmond, Virginia, First Home Care is a provider of therapeutic foster care (TFC) programs in four locations throughout Virginia, and in collaboration with Foundations for Home and Community in Washington, D.C. and Maryland. Based in Kissimmee, Florida, North Star Counseling of Central Florida provides behavioral therapy services and targeted case management focusing on children... Read More »
Behavioral Health Care M&A Activity May Continue to Slide in 2023
Mergers and acquisitions activity in the Behavioral Health Care (BHC) sector declined 14% last year compared to the record level of deals recorded in 2021. One industry expert expects a continuation of that trend. “We expect behavioral health deal volume to slow slightly in 2023,” said Steven Grassa, vice president at Provident Healthcare Partners. “Rising interest rates and tight lending markets will likely impact larger transactions [$300 million and higher] more than most lower middle market deals.” According to data captured in the LevinPro HC database, BHC transactions totaled 108 in 2022 after the total reached 125 in 2021. The numbers were 72 in 2020 and 76 in 2019. Only... Read More »Schedule a demo
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