Business Briefs: Acadia, BayMark, Granite Recovery Centers, Community Medical Centers, Spero Health, All Points North Lodge

Acadia Healthcare announced recently that it has completed the acquisition of the real estate for 3 behavioral health facilities on the north side of Chicago—an adult hospital, a children’s hospital, and an outpatient program—all of which are currently non-operational.

Acadia said in a release that it plans to make infrastructure investments in the facilities, which collectively will operate as Montrose Behavioral Health Hospital upon reopening. The children’s hospital, which has a 60-bed capacity, and the outpatient program are expected to launch in the summer of 2022, while the 101-bed adult hospital is projected to begin operating in early 2023.

Acadia CEO Debbie Osteen said in a statement that the organization, which is the nation’s largest standalone provider of behavioral health services in the US, is looking forward to entering the Chicago market.

“This transaction aligns with our strategy to identify underbedded markets for new facilities and opportunities that meet the criteria of our disciplined capital allocation framework,” Osteen said. “We intend to make significant investments across the 3 locations to ensure that Montrose Behavioral Health Hospital meets our industry-leading standards for exceptional patient care.”

BayMark Acquires Granite Recovery Centers Programs

BayMark Health Services has acquired Granite Recovery Centers, which operates 2 residential treatment facilities and several sober living homes in southern New Hampshire. The programs join a BayMark portfolio that includes more than 300 centers across the US and Canada. The deal continues the expansion of BayMark’s residential treatment services, as the company has also added programs in Maine, West Virginia, Louisiana, and Georgia since December 2020.

Granite offers treatment services for addiction to opioids, alcohol, cocaine, methamphetamine, prescription drugs, and other substances, with multiple levels of care, including residential, partial hospitalization, intensive outpatient, and sober living.

Granite Recovery Centers was represented in the deal by Covington Associates Investment Banking, with the firm Nixon Peabody serving as legal advisors.

FFL Partners, Two Sigma Impact Acquire Majority Stake in Community Medical Services

Private equity firm FFL Partners and Two Sigma Impact, the impact investing business of Two Sigma, have acquired a majority ownership of Arizona-based Community Medical Services (CMS), an opioid treatment program provider with 45 clinics in 9 states.

“FFL, with its reputation for operational excellence in the behavioral health space, combined with Two Sigma Impact’s emphasis on data science and workforce development, made them the ideal partners as we take the next step in our growth vision for CMS,” CMS CEO Nick Stavros said in a release. “Both groups share our conviction that a strong patient-centric focus on quality care will lead to the greatest outcomes and the most sustainable value, and we look forward to the impact our strategic partnership will have in our fight to help heal those suffering from addiction.”

Spero Health Expanding into West Virginia, North Carolina

Spero Health, an integrated healthcare services organization that specializes in outpatient SUD treatment, announced it plans to expand into West Virginia and North Carolina in early 2022. Based in Nashville, Tennessee, Spero operates more than 70 outpatient programs in Kentucky, Ohio, Indiana, Virginia, and Tennessee.

In 2021, Spero reported more than 500,000 patient visits, and the company expanded its services to include treatment for heptatits C, smoking cessation, depression screenings, and intensive outpatient treatment in select clinics. The company also expanded specialty treatments for trauma, stimulant use, and gender groups.

All Points North Lodge Adds 2 Programs in Denver

All Points North Lodge, a Colorado-based behavioral health and personal development provider, has opened 2 new centers offering new service lines in the greater Denver area. The APN Detox & Assessment Center will offer behavioral health evaluations, withdrawal management, and medical detox services. The center will be led by new program director Alex Coreth, MA, LPC, who has 12 years of healthcare experience and most recently served as clinical director for a substance use facility in Boston.

The second new facility, APN Concussion & Depression Center, will provide deep transcranial magnetic stimulation for medication-resistant major depression, treatment-resistant obsessive compulsive disorder, and smoking cessation programming.