Easterseals UCP Combines With PORT Health
PORT Health, as of January 1, 2021, will be an affiliate of Easterseals UCP as the two non-profits combine to expand their continuum of services. As a result of the transaction, people across North Carolina and Virginia will benefit from a broader range of comprehensive services for collaborative, whole person care. Luanne Welch, CEO of Easterseals, will lead the new combined organization and its executive team. PORT Health CEO Tom Savidge will continue to lead PORT Health operations and serve as Easterseals UCP’s Chief Growth Officer. Together, Easterseals UCP and PORT Health will employ approximately 2,600 people and serve more than 38,000 individuals throughout North Carolina and... Read More »
Carl Marks Securities Advises on Sale of Cornerstone Treatment Facilities Network
Carl Marks Securities LLC, an affiliate of middle market investment bank Carl Marks Advisors, announced that it advised Cornerstone Treatment Facilities Network on its sale to New York-based Aurora Health Network. Carl Marks previous experience in addiction and behavioral healthcare services includes the financial restructuring of American Addiction Centers and positioning that company for long-term growth with a new board of directors. Financial terms of the private transaction were not disclosed. Founded in 1936, Cornerstone Treatment Facilities Network is an employee-owned addiction care provider with locations in Fresh Meadows and Rhinebeck, New York in the Hudson Valley. A... Read More »
New Investors Push Into Behavioral Health Market
For the past several years private equity firms and their portfolio companies have driven the behavioral healthcare M&A market, but a new mix of strategic investors have entered the field, from REITs to managed care providers and health systems. Although activity is slower than compared to 2021, the behavioral health market is still experiencing significant tailwinds from growing demand for mental health services and significant fragmentation in the industry. Deal volume for 2022 is sitting at just under 100 deals, but we expect to cross the 100-mark threshold before the end of the year. In 2021, investors and dealmakers announced 125 transactions in the Behavioral Health Care sector. ... Read More »
The Stepping Stones Group Acquires Building Blocks Behavior Consultants
The Stepping Stones Group, a portfolio company of Five Arrows Capital Partners, announced on December 15 its acquisition of Building Blocks Behavior Consultants, Inc. Building Blocks founder Mila Zea will remain with the company and assume the role of Regional Clinical Manager. Terms of the deal were not disclosed. Building Blocks Behavior Consultants is a provider of center-based Applied Behavioral Analysis therapy for children who carry a diagnosis on the Autism spectrum. The Stepping Stones Group provides therapy and behavioral health services to children in the K-12 educational setting. Stepping Stones serves more than 1,000 clients and 300,000 children annually across 42 states.... Read More »
PE-Backed Tristone Healthcare Acquires Next Steps
Tristone Healthcare, a portfolio company of Manchester-based private equity firm Tristone Capital, announced on December 13 its acquisition of K Bond Healthcare Ltd, doing business as Next Steps. Duke Royalty Ltd supported the transaction with a follow-on investment of £3.2 million (approximately $3.968 million) into existing royalty partner Tristone Healthcare to fund its acquisition. Duke Royalty has now invested £17.6 million (approximately $21.824 million) into Tristone Healthcare. Moore & Smalley acted as finance and tax advisor and St. Johns Legal acted as legal advisor for Tristone. Redwoods Dowling Kerr acted as broker, DHD & Co acted as accountants and Ison Harrison acted... Read More »Schedule a demo
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