Fulcrum Equity Aquires South Florida Youth Center
09/13/2018 - ATIN- Fulcrum Equity Partners, which just a few months ago entered the treatment business by acquiring Pennsylvania’s Liberation Way, has purchased South Florida’s Life of Purpose center. Fulcrum has also formed a holding company for its addiction treatment and behavioral healthcare assets, announcing the hiring of a host of rock star treatment executive talent to run the new venture.
City Line Behavioral Healthcare is the name of the new entity, which will be run by Andrew Rothermel, who started as CEO of Liberation Way earlier this year. Rothermel is the former CEO of Texas-based Origins Behavioral and before that was a top executive at renowned non-profit Caron. Fulcrum today said it had hired six top treatment executives to staff City Line, including Keith Arnold as chief marketing officer. Arnold was formerly CEO of Sierra Tucson and a top executive at CRC and Acadia.
Life of Purpose serves young adults and has facilities at the Florida Atlantic University campus in Palm Beach and a center in Camden County NJ. Says founder Andrew Burki: "For the past five years, our mission has been helping clients to find purpose through higher education, trade school, and professional development, both during and post treatment.  This acquisition brings us one step closer to changing the paradigm for how substance use disorder treatment is conducted in America."
Rothermel says he is well pleased with the acquisition of Life of Purpose, as well as to be working with such a distinguished roster of treatment professionals at City Line.
Fulcrum's $30M acquisition of Liberation Way has run into some trouble due to mismanagement of Liberation Way by it's previous owners, including racking up a bevy of problems with Pennsylvania's treatment regulator. Fulcrum has said it intends to sue Liberation Way's former owners for compensation and redress.
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Comments (1)Add Comment
rock on
written by Andrew Spanswick, September 13, 2018
Lawsuits should give future M&A targets a pause. Also great management but suing the guys you bought-you missed that in dd? Sellers beware. love to see that clawback and indemnification language . Anyone want to share?
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