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Centerstone plans Manatee Glens merger

October 9, 2014
by Julie Miller
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Two not-for-profits, Centerstone and Manatee Glens, have signed a letter of intent to pursue an affiliation that could be complete as early as January 2015. As part of the deal, Manatee Glens, headquartered in Tampa Bay, would change its name to Centerstone of Florida.

Manatee Glens serves 16,000 clients each year with inpatient and outpatient services. Industry observers note that the organization has achieved significant technology implementation. Centerstone currently serves 84,000 clients per year, and the two organizations have complementary strengths, according to company officials.

“Additionally, this affiliation is the realization of a goal set out more than seven years ago to form a network spanning four states and more than $200 million in revenues,” David C. Guth, Jr., CEO of Centerstone, tells Behavioral Healthcare.

When finalized, the Centerstone/Manatee Glens affiliation will create an organization with 155 locations—multiple sites in Florida, Illinois, Indiana and Tennessee, plus one in Kentucky—and approximately $189 million in annual revenues. It will employ more than 3,000 people and serve an estimated 100,000 individuals.

“When Centerstone announced its first multi-state affiliation in May 2008, it was because the organization saw the need to grow in order to leverage treatment technologies and effectively operate in the evolving healthcare environment,” Guth says. “Then, as now, growth isn’t the goal. The aim is to form an organization that is better positioned to best serve our clients.”

He says the new Manatee Glens affiliation puts that milestone in reach, making Florida the fourth state in which Centerstone will have large-scale operations.

In 2008, he told Behavioral Healthcare that by 2018, the industry will be populated by organizations that are large enough to provide the most advanced treatment and rehabilitative services. He also said expectations in care and mental health outcomes will be “dramatically different” by then.

See our 2008 article about the emergence of Centerstone here.

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