New York, NY (June 30, 2016) – Centre Partners, a leading middle market private equity firm, announced that it has completed an investment in Bradford Health Services, LLC (“Bradford Health” or the “Company”) in partnership with the Company’s management team, including Chief Executive Officer Clay Simmons and Chief Financial Officer Chip Stephens.
Based in Birmingham, Alabama, Bradford Health is one of the largest providers of substance abuse treatment and recovery services in the Southeastern United States. The Company operates 30 clinical facilities in six states, including two inpatient facilities, 24 outpatient facilities, a transitional living facility and three substance abuse treatment units managed under contracts with acute-care hospitals. Through this coordinated network of facilities, Bradford Health provides treatment services across the entire spectrum of acuity, including early intervention services, crisis response, intensive outpatient care, partial hospitalization and residential care, inpatient detox and transitional living and life skills programming.
With an operating history dating to 1977, Bradford Health operates as one of the longest-tenured substance abuse treatment providers in the country and maintains unparalleled name recognition within its core markets. Bradford Health’s in-network payor strategy and strong referral network allow the Company to deliver accessible, affordable, and high-quality clinical care to a broad and growing patient population.
“Centre has a demonstrated track record of successfully partnering with management teams within the behavioral healthcare industry and maintaining commitment to clinical excellence within programming, which is of paramount importance to the Company’s mission,” stated Bradford Health CEO Clay Simmons. “Our partnership with Centre provides a terrific opportunity to accelerate the Company’s growth and expand access to affordable care to a growing patient base.”
“Centre continues to target investment opportunities within the behavioral healthcare industry, with a focus on substance abuse treatment services – a $30 billion sector which is experiencing significant growth,” stated Jeff Bartoli, a Managing Director of Centre Partners. “We are excited to partner with Clay Simmons, Chip Stephens, and the rest of the Bradford Health management team to expand the Company’s footprint while maintaining its strong reputation for clinical excellence.”
Coker Capital Advisors served as a financial advisor to Bradford Health. NXT Capital provided debt financing for the transaction.
About Centre Partners
Centre Partners, founded in 1986, is a leading private equity firm with a middle market focus that seeks to make acquisitions and equity investments alongside management teams who have or desire to have a meaningful economic stake in the future success of their businesses. Centre Partners has invested over $2 billion in more than 70 transactions, partnering with management teams across a broad spectrum of industries. Centre Partners provides those teams with access to its unique resources, which include an extended network of experienced and proven operating executives. The firm is currently investing through its sixth fund. Additional information is available at www.centrepartners.com.
About Bradford Health Services, LLC
Bradford Health Services, based in Birmingham, Alabama, is one of the largest and longest running providers of substance abuse treatment and recovery services in the Southeast. Through 30 individual clinical facilities, Bradford offers early intervention services, crisis response, intensive outpatient care, partial hospitalization and residential care, inpatient detox, and transitional living and life skills programming. Additional information is available at www.bradfordhealth.com.