Summit BHC deal spree points to growth potential

Evidence of the growth potential in addiction treatment surfaces regularly these days. Take for example, the five new additions Summit BHC has tucked into its portfolio in the last five months:

• In Pennsylvania, it added Mountain Laurel (acquired as Seabrook West in December 2015); St. Joseph Institute (March); and Turning Point (March).
• In Georgia, it added Twin Lakes Recovery (a de novo property that opened in April); and its latest acquisition, the 40-bed Willingway Hospital, which was announced last week.

The portfolio now includes nine total properties with two more residential facilities in the pipeline, according to Karen Prince, president and chief marketing officer of Summit BHC. She says the strategy is less about reaching a certain number of properties and more about looking at long-term growth.

“We don’t have a goal specifically because we are disciplined in our approach to growth as it relates to acquisitions and de novo properties,” Prince tells Behavioral Healthcare. “Our plan is to consistently remain opportunistic yet disciplined.”

The Betty Ford of the Southeast

Willingway Hospital in Statesboro, Ga., is the treatment center where Trey Carter, CEO and founder of Summit BHC, launched his addiction treatment career. According to Carter, the deal was “a very sentimental moment for me.”

Prince says Willingway has a 45-year history and has been considered the Betty Ford of the Southeast because of its clinical product. It also has a solid network of referral sources and offers a full continuum of care from detox to sober living.

“The opportunity matched our portfolio well,” she says. “And we are already familiar with the state of Georgia and opened our de novo property there a few weeks ago. Willingway is a great brand and a great facility.”