Pyramid Healthcare, a portfolio company of Clearview Capital, has acquired Onward. No financial terms were disclosed. Based in Paoli, Penn., Onward is a provider of mental health and substance abuse treatment to adults and adolescents throughout the Delaware Valley region.
Old Greenwich, CT, May 12, 2014 — Clearview Capital Fund II, L.P. today announced that its portfolio company, Pyramid Healthcare, Inc. (“Pyramid”), has acquired Onward Behavioral Health, Inc. and its subsidiaries (d/b/a Rehab After Work and Life Counseling Services) (“Onward”).
Headquartered in Paoli, PA, Onward has grown to become one of the largest providers of outpatient mental health and substance abuse treatment to adults and adolescents throughout the Delaware Valley region, with 18 centers in Pennsylvania and 8 centers in New Jersey.
“The acquisition of Onward fills out our existing footprint in Pennsylvania and New Jersey perfectly,” commented Jonathan Wolf, Pyramid’s CEO. “More importantly, however, this transaction further strengthens Pyramid Healthcare’s full continuum of care, which includes an expansive network of inpatient and outpatientfacilities, in its core markets. In the substance abuse and mental health fields, research shows a high correlation between patient outcomes and length of stay and we believe that Pyramid’s ability to keep patients within its care continuum for longer periods of time will result in better care coordination and better outcomes.”
“Pyramid has really developed into a powerful platform in the highly fragmented behavioral health industry,” stated James Andersen, Managing Partner of Clearview Capital. “With nationwide demand for behavioral health services continuing to outstrip supply, Pyramid has numerous levers for continued growth, and we plan to remain aggressive with new center openings as well as acquisitions.”
Based in Altoona, PA, Pyramid is a leading provider of substance abuse and mental health treatment services to adults and adolescents throughout Pennsylvania, New Jersey and North Carolina.
The Onward acquisition marks the 13th acquisition for all Clearview Capital funds in the past twelve months.
Clearview Capital’s other holdings include Northwest Cosmetic Laboratories, LLC, a rapidly-growing formulator and manufacturer of innovative cosmetic and skin care products; Novik, Inc., a leading manufacturer of innovative polymer exterior siding and roofing products; St. Croix Hospice, LLC, a provider of high quality, palliative care for hospice patients; QC Supply, LLC, a leading wholesale distributor to the swine and poultry markets; Battenfeld Technologies, Inc., a designer, developer and supplier of branded shooting and hunting accessories to the outdoor sporting goods industry; GCR, Inc., a professional services firm delivering consulting services and technology solutions to governmental and commercial clients; Child Health Holdings, Inc. d/b/a Pediatric Health Choice, the country’s largest provider of prescribed pediatric extended care (“PPEC”) centers for medically complex children; The Results Companies, LLC, a rapidly growing provider of customer relationship management solutions; QualSpec Group, a provider of mechanical integrity inspection and non-destructive examination services to the refining, petrochemical, power generation and other industries; and Senior Care/Active Day, the country’s largest operator of adult day care centers.
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