Sunspire Health has acquired Caron Treatment Center’s 40-bed residential treatment operations in Princeton, Texas.
In late June, Sunspire was acquired by private equity firm Kohlberg & Company and announced that the organization would aim for strategic growth in addition to the new facilities opening in Hilton Head Island, S.C., Gilman, Ill., and Key Largo, Fla., in 2015.
According to Caron officials, the sale of its Texas operations was prompted by Caron’s new strategic plan to expand its Pennsylvania and Florida facilities. The expansion will include a medical center in Pennsylvania, which will break ground in the Spring of 2016. The $10 million center will support additional treatment for seniors as well as addiction, chronic pain and brain health initiatives.
“With our newly designed strategic plan, Caron is charting a future course in its established communities in the northeast and southeast regions that will allow for increased accessibility to lifesaving and life-changing treatment services,” said Doug Tieman, president and CEO of Caron, in a statement. “While this means it will no longer have a presence in Texas, we are thrilled to be ‘handing over the reigns’ to a quality operator like Sunspire Health, whose mission and vision are in alignment with Caron’s.”
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