Home Newswires
Cincinnati's Sojourner Doubles Residential Capacity  E-mail
Addiction Treatment Industry Newswire
06/8/2018 - ATIN - Sojouner center has doubled its capacity to 32 beds, as well as staff to 16.
Addiction Non-Profits Duel over Elementary School Conversion  E-mail
Addiction Treatment Industry Newswire

6/2/2018 - ATIN - Venerable Pittsburgh-based addiction operator Gateway Rehab and another local non-profit, Resources for Human Development, RHD, are at loggerheads over a $2.8M contract to convert a local area elementary school into an approximately 40-bed full service treatment center, providing the full range of services, from detox all the way to long-term residential care.

Gateway Rehab has over 200 employees in Beaver County, which put out an RFP for the conversion and ultimately granted the deal to RHD. Gateway Rehab has a 20-yr relationship with the county and the two are in a payment and fee-setting dispute that is currently being adjudicated by the state alcohol and drug treatment agency, for the second time.

Gateway has tapped into the NIMBY feeling in the local community, with Gateway employees speaking out at planning commission meetings saying that the new RHD facility will be an unnecessary duplication of existing Gateway infrastructure, despite the fact that Gateway intself bid on the conversion RFP  - losing out RHD.

READ OUR article on Gateway Rehab's CEO transition

READ OUR Gateway Rehab cover story

Ted Jackson

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Crain's Chicago Report on City Addiction Treatment Availability  E-mail
Addiction Treatment Industry Newswire

6/01/2018 - ATIN - Crain's Chicago Business, a weekly newspaper, has published a major report on city wide addiction treatment availability.

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Chestnut Health Wins County Prison Addiction Treatment Mandate  E-mail
Addiction Treatment Industry Newswire
5/31/2018 - ATIN - Chestnut Health, one of Illinois' largest and oldest addiction treatment operators, has won a contract to start a treatment center in the county jail of Bloomington, IL. The project is majority funded with a SAMHSA grant of in excess of $500K, a very large single grant for the federal behavioral health and substance abuse agency.

Ted Jackson

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Valley Hope Files Opioid Lawsuit Against Big Pharma  E-mail

05/31/2018 - ATIN - Venerable Valley Hope, the Kansas-based treatment operator, has filed a lawsuit against big pharma opioid manufacturers, saying the drug makers owe Valley Hope, which often takes a loss treating the uninsured or underinsured as it seeks to deal with the deluge of demand for the mostly affordable services the non-profit offers in seven states.

Valley Hope, which is represented by Rex A. Sharp, based in Prairie Village, KS, The Lanier Law Firm in Oklahoma City and Rebein Brothers of Dodge City, is also seeking treble damages as well as demanding trial by jury.

READ OUR cover story on Valley Hope

Ted Jackson

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Clean Slate Raises $25M Private Equity Round  E-mail
Addiction Treatment Industry Newswire

05/29/2018 - ATIN - Clean Slate Centers, a rapidly growing Nashville-based, medication-assisted therapy focused addiction treatment operation, has gotten a key $25M funding round from private equity firms Healthquest Capital and Granite Growth Health Partners.

Clean Slate moved to Nashville, which is to the medical industry what Silicon Valley is to the tech industry, from Massachusetts last year - growing to 43 clinics from 20 in the period.

The additional funding will allow for rapid growth to continue. The money is expected to pay for 20 more new Clean Slate clinics in the near future.

Many hundreds of new outpatient clinics, driven mainly by the Suboxone-led surge in demand for medication based therapies, have popped up all over the the US in recent years.

Ted Jackson

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Eight Addiction Centers Targeted in House Patient Broking Probe  E-mail
Addiction Treatment Industry Newswire

05/29/2018 - ATIN - A House committee investigating the treatment industry in the wake of expose type reporting, mostly by the Palm Beach Post and the OC Register, has sent letters requesting information from eight treatment industry participants about possible patient brokering, which is illegal in the US but not in most of the rest of the world, including Europe.

The letters went to:  American Addiction Centers, AAC, one of the nation's largest treatment chains; Addiction No More in Texas; Addiction Recovery Now in Florida; Elite Rehab Placement in Michigan; Redwood Recovery Solutions in Florida; Solutions Recovery Center in Florida; Treatment Management Company in Georgia; and Intervention Allies in North Hollywood.

AAC CEO Mike Cartwright told the OC Register he welcomed the scrutiny, saying it's time lawmakers got a better understanding of the hows and whys of patient flows into the industry.

The recipients are under no legal obligation to provide any information requested in the letters, as they would be under congressional supeana.

Ted Jackson

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AAC Shares Soaring Following Strong 3Q Earnings Report  E-mail

11/06/2017 - ATIN - The price of American Addiction Centers (NYSE: AAC) shares are soaring in a strong multi-session rally driven by last week's release of quarterly earnings, which met or exceeded expectations. Nashville-based AAC has repeatedly failed to meet earnings expectations over the past year or so, which is why for most of the month of October shares traded in a range of $7.50 to $8.50, not far above the company's all-time low trade of $6 a share.

On Monday, investors continued to steadily drive AAC shares higher on big volume. About 270,000 AAC shares traded Monday, approximately twice the average daily voiume over the past three months. Shares closed at $11.14 Monday, up nearly 50 percent since AAC reported 3rd quarter earnings Wednesday afternoon.

Revenues for the third quarter surged 14 percent to $80.4M while operating expenses fell 10 percent, which strengthend investors confidence in the company's quality of earnings and profitability.Also underscoring continued high qualiytty of earnongs, AAC reported that the average daily residential rate was $925, up an astounding 48 percent. Average revenue per outpatient visit surged 33 percent to $437.

AAC's growth is to a large extent being driven by mergers and acquisitions, as well as "de novo" or greenfield new center develoiopment. In September, AAC reached a definitive agreement to acquire AdCare for consiuderstion of $85M. AdCare is one of the Northeast's largest and well regarded treatment enterprises.

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New Medical Center to Open on Caron Campus, Transformative Role  E-mail
Addiction Treatment Industry Newswire

10/30/2017 - ATIN - A top notch new medical model addiction care center, opening in December, is set not only to transform the look of Caron's Pennsylvania home campus but also its approach to treatment, acording to CEO Doug Tieman.

The Carol and Ray Neag Medical Center is named after a couple with a long philanthropic history at Caron, They contributed just slightly more than $5M for the namesake medical facility, the largest gift in the non-profit's history. Tieman says he expects the $15M facility will put Caron on the leading edge of efforts throughout the industry to offer more than just spiritual solutions to addiction, moving to boost outcomes by innovating clinically through medicine.

Caron's program for seniors is already arguably the leading such program in the nation, but the older adult program - 65 and up - will get a major boost as it moves into the Neag Center. By necessity and for iobvious reasons, seniors require as their baseline a much higher degree of medical interventions. Few if any other seniors programs will have what the new Carole and Ray Neag center has to offer.

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Meridian Behavioral Acquires Muli-Site Minnesota Provider  E-mail
Addiction Treatment Industry Newswire

10/27/2017 - ATIN - Meridian Behavioral, a private equity backed Minnesota based center whose rapid growth in recent years has been due to an aggresive mergers and acquistions strategy, has acquired another Minnesota based center, New Beginnings.

New Beginnings has seven inpatient and outpatient facillities, all in Minnesota. Terms of the deal, such as price, were not disclosed. The seven facilities will be added to the 30 in total that Meridian already has, also all in Minnesota. The New Beginnings deal is the third transaction so far this year for Meridian.

In 2015, a majority stake in Meridian was bought by private equity firm Audax Partners from Los Angeles-based Triton Pacific Capital Partners.

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NJ's Liberty Management in Employee-Led Buyout  E-mail

10/25/1027 - ATIN - New Jersey-based Liberty Behavioral Management, which operates the big New York residential centers Arms Acres and Conifer Park, has been sold to its employees in a transaction advised by Prairie Capital of Chicago.

Praire structured a similar employee buyout for Cornerstone NY several years ago.

Liberty CEO Bill Hartigan wasn't immediately available for comment.

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Trump Fails to Elevate Opioid Crisis to 'National Emergency' Status  E-mail

10/25/2017 - ATIN - President Trump has declared the opioid crisis a health emergency, but has failed to elevate the problem to 'national emergency' status as he had previously promised.

The difference has enormous implcations for funding and bureaucractic and official reaction, with the health emergency meaning only the existing Health and Human Services budget can be tapped, while the much wider 'national emergency' would have meant access to the resources and budgets of a wide arrary of federal agancies as well as the possibility of a special congressional appropriation.

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NBC NIghtly News to Run Major Opiate Crisis Report Tonight  E-mail

10/24/2017 - ATIN - NBC Nightly News, the network's evening news program, will be running a major report tonight on the opiate crisis. Featured will be Dr. Kenneth Chance, CEO and and founder of California boutique center Arrowhead Lodge.

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Ohio County Donates 25-Acre Property for New Center  E-mail

10/24/2017 - ATIN - Summit County in Ohio will be donating part of an 89-acre former hospital property for a proposed new residential treatment center. About 25 acres of the property in Lakemore, OH, near Akron will be given to Hope United and Restore Addiction Recovery, two local not-for-profit groups recently formed to fight the opioid crisis by building a local center.

Hope United is working to raise $10 million to build a sober-living campus on the property. The campus would include a year long treatment facility, residential housing and an after-care community center called Tyler's Redemption Place.

Restore Addiction Recovery wants to build a 75-bed long-term recovery center. The first phase would be for men, with facilities for women and adolescents being added in later phases.

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FBI Raids Ohio Treatment Center  E-mail

10/25/2017 - ATIN - The FBI has raided Ohio's Braking Point treatment center under a sealed federal indictment. However, the names of the other agencies assisting in the investigation - the DEA, Ohio's Medicaid fraud unit and the IRS - may give an indication of what the investigation is focusing on.

Braking Point's co-owner died of an accidental overdose in July.

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Narcan Developer Sets Sights on Heroin Vaccine  E-mail

10/24/2017 - ATIN - Opiant Pharmaceuticals, the developer of the revolutionary intra-nasal naloxone spray Narcan, is setting its addiction pharma sights on a heroin vaccine, which would work with the immune system to recognize heroin as a disease using the body's immune response to destroy the drug before it can reach the brain.

Opiant CEO Roger Crystal says that while it has been traditionally very difficult to secure funding for expensive development of drugs aimed at combating addiction - there are less than five drugs specifically FDA approved for addiction - Opiant is using the strong profits from booming Narcan sales to help fund the heroin vaccine's development. But with annual sales last year just shy of $18M, Opiant is a tiny company and will no doubt have to seek a pharma development partner to raise the many millions it will take to see the heroin vaccine through intial development as well as clinical trials and the like.

Seperately, while naloxone is about as cheap a drug to produce as exists, experts say its price has been inexplicably skyrocketing in recent years. Costs are equivalent to manufacturing saline yet the price of a dose of naloxone has jumped to $44 from just $12 five years ago. The big price hike may be due to manufacturers such as Pfizer profiteering as demand for naloxone has soared amidst an opiate addiction epidemic.

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Caron Near Reaching $70M Capital Campaign Goal  E-mail

10/23/2017 - ATIN - Caron, the Pennsylvania-based powerhouse non-profit addiction treatment foundation, has raised close to $60M towards a stated $70M capital campaign goal, by far the largest fund raaing effort in Caron's history, according to CEO Doug Tieman.

tieman said that Caron's board would be meeting in South Florida in November, where Tieman said he woukld likely bring up the subject of perhaps raising the campaign's goal to beyong the current $70M target.

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New 70+ bed Residential Center to Open in Seattle  E-mail
Addiction Treatment Industry Newswire

10/23/2017 - ATIN - Valley Cities Behaviorial of Seattle, a chain of approximately a dozen inpatient and outpatient facitilies, is opening a  new 73-bed residential addiction center in the Beacon Hill area of the city, the company announced.

The new center will be called Recovery Place Saettle and will have 33-beds devoted to detox and 40 to reisential.

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Lakeview Seeks Approval for Big Sober Living New Build  E-mail
Addiction Treatment Industry Newswire

10/18/2017 - ATIN - Lakeview Health Systems is seeking approval to build 100+ new beds for sober living and Florida Model care on a 22 acre site near the company's main treatment campus in Jacksonville.

Lakeview has submitted site plans to the city that show four residential structures. The two women's buildings are separated from the men's buildings. Plans show the men's buildings will provide 58 beds and the women's structures will offer 42. The smaller buildings are referred to as serving the professional programs.

Lakeview's main 12 acre Jacksonville campus includes men's and women's treatment programs and residential treatment buildings, the administration building, a café, and a conference center, wellness center and counseling center.

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South Florida's Delphi in Major Deal With Private Equity  E-mail

10/12/2017 -ATIN - South Florida's Delphi Behavioral Health Group has completed a major recapitalization with a leading private equity concern, arguably the most important financing and investment deal in Delphi's history. Washington DC-based private equity firm The HalifaxGroup has made a major investment in Delphi, with Delphi CEO Dominick Sirianni insisting  that he and his managment team still retain a "significant"stake in fast growing Delphi. Terms of the private transaction were not disclosed.

Headquartered in Fort Lauderdale, FL, Delphi Behavioral Health Group's treatment centers offer patients diversified addiction treatment programing to begin the process of recovery from addiction.  Each treatment center is equipped with a team of highly trained addiction specialists and follows the company's philosophy on addiction care, which includes a high clinician-to-patient ratio, intimate settings, and comprehensive, tailored treatment solutions, including cognitive and behavioral therapies, aftercare services and relapse prevention.

"Delphi and Halifax have a shared vision to provide outstanding individual, group and family therapy and care to all those we have the opportunity to serve," commented Mr. Sirianni.  "Halifax's history and experience investing in the healthcare sector will be helpful to our mission as we continue growing."

In April, Delphi completed a major transaction, acquiring 45 yr-old Palm Beach Institute residential center, the oldest continuously operating residential center in the key South Florida market, which fills much of the demand for treatment services of the entire East Coast.

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Summit Behavioral Sells Controlling Stake to Private Equity  E-mail

10/10/2017 - ATIN - Nashville-based Summit Behavioral has sold a controlling stake to private equity investors, the company said. Flexpoint Ford and certain other investors have sold out to Lee Partners and FFL Partners, two Nashville-based healthcare private equity players the press release said.The amounts involved were not made public.

Headquartered in Franklin, Tenn., Summit BHC was founded by a team of senior executives with decades of behavioral healthcare experience to develop and operate a nationwide network of addiction treatment and behavioral health centers. The Company focuses on the management of specialty chemical dependencies and provides a wide range of services to adults and families with addiction disorders through treatment centers across 10 states.

Trey Carter, Chairman, Chief Executive Officer and Founder of Summit BHC, along with his management and clinical teams, will continue to lead the company, and are committed to expanding Summit BHC's business to meet the company's mission: delivering quality and innovative chemical dependency and addiction disorder services in a caring and supportive environment. "We are pleased to have the support of partners with a long term track record of building market-leading healthcare businesses, who share our vision for clinical excellence in patient care," said Carter. "Flexpoint Ford has been a truly valuable partner and we have thoroughly enjoyed our relationship with them which allowed us to grow the Company from three to thirteen facilities."

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