Webster Capital-backed Discovery Behavioral Health, a behavioral health provider, acquired Ambrosia Treatment Center NJ. Ambrosia provides addiction treatment to patients from the greater Philadelphia and southern New Jersey areas. Ambrosia will operate under the name Pinelands Recovery Center of Medford.
Press Release
Discovery Behavioral Health, a portfolio Company of Webster Capital, is pleased to announce its acquisition of Ambrosia Treatment Center NJ (“Ambrosia”), a behavioral health provider of substance abuse and addiction treatment in New Jersey. Ambrosia primarily treats patients from the greater Philadelphia and Southern New Jersey areas and provides services to patients through an outpatient facility and residential treatment facility. This acquisition does not involve any operations outside New Jersey that operate under the name Ambrosia. Subsequent to transaction close, Ambrosia Treatment Center NJ will operate under the name Pinelands Recovery Center of Medford.
Discovery Behavioral Health is a leading behavioral health provider specializing in the evidence-based treatment of alcohol and drug addiction, eating disorders, and a broad array of mental health conditions. DBH operates more than 65 facilities nationwide and provides the full continuum of care including outpatient, intensive outpatient, partial hospitalization/day treatment, residential treatment, and inpatient detox. Under Webster’s ownership, DBH has rapidly expanded its national footprint and is now one of the largest behavioral health providers in the United States.
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Discovery Behavioral Health CEO, John Peloquin, said, “Ambrosia has a reputation of delivering exceptional patient care and we are excited to provide a broader array of behavioral health services to an underserved population. New Jersey and Pennsylvania are among the states most seriously affected by the opioid epidemic. Our combined team is comprised of talented and compassionate industry professionals who share the same core values of quality care and 24/7 family support. By combining the latest advancements in addiction medicine with concierge clinical care, we strive to ensure real progress every single day.”
Ambrosia Founder/CEO Jerry Haffey said, “Ambrosia is dedicated to delivering quality patient care to those struggling with drug and alcohol addiction. We look forward to continued partnerships with quality facilities like Discovery Behavioral Health to help combat this menacing epidemic.”
Cain Brothers, a division of KeyBanc Capital Markets, served as the investment banker on this transactions, and Goodwin Procter LLP acted as legal counsel to Discovery Behavioral Health and Webster Capital.
Date: December 3, 2018
Source: The PE Hub Network
