Summit BHC announced its acquisition of Cottonwood Tucson, which adds 65 beds to the Summit portfolio. The facility will represent the organization’s second location in Arizona and brings its total number of operating facilities to fourteen, operating in eight states. Financial terms of the deal were not disclosed.
Founded in 2015, Summit has completed a number of acquisitions in the past year. Most recently, it secured new investors in Lee Equity Partners and FFL Partners, who acquired the controlling interest in Summit from Flexpoint Ford.
In October 2017, President and Chief Marketing Officer Karen Prince told Behavioral Healthcare Executive, “It’s a highly fragmented industry. There are still a lot of development opportunities available to us.”
Cottonwood Tucson has a 30 year history with an integrative approach in the treatment of co-occurring disorders. The treatment center previously had been family owned. In April 1993, the Welch family purchased the controlling interest in Cottonwood, and four members of the family are seated on the board of directors.
Located on a 35-acre campus in the Sonoran Desert, Cottonwood Tucson offers a variety of therapeutic modalities, full-time psychiatric and medical care and high-end amenities. It’s accredited by CARF and is a clinical and academic partner of the University of Arizona School of Medicine’s Department of Psychiatry.
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.