BelHealth Investment Partners has acquired Beach House Center for Recovery, a substance use disorder (SUD) treatment provider.
Beach House’ treatments include medically managed detox, residential inpatient, outpatient and continuing care phases of recovery to men and women aged 18+ with a primary diagnosis of SUD. The company utilizes an abstinence-focused treatment model, while also promoting medication-assisted treatment (MAT). Beach House has a state-of-the-art five-acre campus in Juno Beach, FL. The company was founded in 2014 by its CEO Glenn Cohen (www.beachhouserehabcenter.com).
Utilizing Beach House as its platform, with Mr. Cohen as CEO, BelHealth plans to scale the company via capacity expansion and other organic growth opportunities on the existing campus in Juno Beach. In addition, it plans to open new facilities focused on medication-assisted treatment offerings while also seeking add-on acquisitions in key geographies.
“Our team has searched exhaustively throughout the SUD industry over the last two years to find the best-managed company. In Beach House and Glenn Cohen, we have found it,” said Harold Blue, Managing Partner of BelHealth. “As the amount of people in need of treatment continues to grow, providers require substantial resources and unmatched sophistication in order to provide world-class care while also meeting the demands of commercial payors. Beach House has a proven clinical track-record, a tremendous management team and an established corporate infrastructure, which makes the company well-positioned for robust growth”.
“I am proud of what our team at Beach House has been able to accomplish over the last few years and we are thrilled to be partnering with the BelHealth team to help continue our ascent. We look forward to leveraging their experience and network as we aggressively grow our established platform throughout different geographies and care settings,” said Mr. Cohen.
BelHealth invests from $20 million to $50 million in companies in three healthcare segments: services, products, and distribution. The firm is currently investing out of its second fund which closed in June 2015 at the hard cap of $350 million. Fund I was raised in 2012 with $150 million of committed capital. BelHealth is headquartered in New York (www.belhealth.com).
© 2018 Private Equity Professional | July 2, 2018
