Banyan Treatment Center announced it has made a second acquisition within the past three months, bringing Behavioral Health of the Palm Beaches (BHOPB) in West Palm Beach, Fla., into its portfolio.
BHOPB, which was founded in 1997, offers a 200-bed residential addiction treatment program with a full continuum of care and holistic therapies. It also includes Seaside Palm Beach, a luxury drug and alcohol rehab retreat for business professionals and executives.
“We’re always looking for ways to expand our portfolio and broaden our reach. From a business perspective, what this offered us was the ability to do both,” says Eric Oakes, chief operating officer for Banyan Treatment Center. “With the addition of Seaside, we can offer something that is unique, effective, established, [a type of program] that we did not have in our service array before. With the addition of BHOPB’s services in their Lake Worth, Fla., location, we’re able to expand our in-network offerings to over 20 contracts. It also gives us a unique, positive branding opportunity from a trusted, established organization.”
Banyan’s acquisition of BHOPB follows its recently completed deal to acquire Clearbrook Manor in Laurel Run, Pa. Banyan also recently opened a detox and residential facility in Boca Raton, Fla., and a partial hospitalization program in Philadelphia, bringing its total to nine treatment facilities in the eastern half of the U.S.
The Treatment Center Investment & Valuation Retreat brings together owners and senior executives from the addiction treatment and recovery community to meet with key members of the investment and financial community for an exclusive three-day educational, business, and networking event.