Summit BHC, a portfolio company of Flexpoint Ford LLC, has completed three acquisitions of treatment centers in Pennsylvania. Financial terms weren’t announced. The acquisitions include: Turning Point, a 106-bed addiction treatment center located in Franklin, Pennsylvania; Mountain Laurel Recovery Center in Tioga County; and St Joseph Institute outside of State College.
BRENTWOOD, Tenn., April 5, 2016 /PRNewswire/ —
Flexpoint Ford, LLC (“Flexpoint Ford”), a private equity firm focused on the healthcare and financial services sectors, today announced that Summit BHC (“Summit”), a leading provider of addiction treatment and behavioral health services, completed the acquisition of three addiction treatment centers in Pennsylvania, bringing its total facility count to nine. Most recently, Summit acquired Turning Point, a 106-bed addiction treatment center located in Franklin, Pennsylvania. Additionally, Summit completed the acquisitions of Mountain Laurel Recovery Center in Tioga County and St Joseph Institute outside ofState College in December 2015 and February 2016, respectively.
“Turning Point, Mount Laurel, and St. Joseph Institute are a great fit with Summit’s mission to help people with addiction establish strong recovery and achieve their full potential,” stated Trey Carter, CEO and Founder of Summit. “With these acquisitions, Summit now has a presence throughout the state and is committed to providing the highest level of treatment services statewide.”
In addition to its facilities in Pennsylvania, Summit currently owns and operates four other free-standing addiction treatment centers: Great Oaks Recovery Center, a 32-bed addiction treatment center located in the greater Houston, Texas market; Valley Recovery Center of California, a 48-bed addiction treatment center located in Sacramento, California, with a satellite outpatient center in Fresno, California; Victory Addiction Recovery Center, a 26-bed addiction treatment center located in Lafayette, Louisiana; and The Ranch at Dove Tree, one of the nation’s leaders of collegiate-focused addiction and behavioral health treatment with recovery resiliency services located in Lubbock, Texas. The Company also owns a 55-bed de novo facility in the late stages of development/licensure and recently purchased another de novo property with an expected occupancy of at least 50 beds, both located in the Southeastern portion of the United States.
Perry Ballard, Managing Director at Flexpoint Ford, commented, “We’ve been extremely impressed by the growth and success Trey and his team have achieved to date in fulfilling Summit’s mission of providing the highest quality care, and we look forward to supporting the Company with additional capital as it continues to grow and evaluate further acquisitions.”
About Summit BHC
Headquartered in Brentwood, Tennessee and founded in June of 2013, Summit was established to develop and operate a network of leading addiction treatment and behavioral health centers throughout the country. The Company’s sole focus is on the provision and management of specialty chemical dependency and addiction disorder services within a flexible and dynamic continuum of care. The leadership team at Summit is comprised of senior executives with decades of combined experience in the behavioral healthcare industry at the national level.
About Flexpoint Ford
Flexpoint Ford is a private equity firm dedicated to the healthcare and financial services sectors. Flexpoint Ford seeks to build relationships with executives and companies who look for Flexpoint to be a value-added partner. Flexpoint Ford currently manages approximately $2.3 billion in committed capital on behalf of its limited partners. For more information about Flexpoint Ford, please visitwww.flexpointford.com.
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SOURCE Flexpoint Ford, LLC