March 20, 2017 – Alita Care, LLC (“Alita”), a leading national provider of behavioral health services, today announced the acquisition of Bournewood Health Systems (“Bournewood”), a leading New England based provider of acute psychiatric and dual diagnosis (psych / substance abuse) treatment services.
Alita serves as the parent holding company for Meadows Behavioral Healthcare (“The Meadows”) and Sunspire Health (“Sunspire”) and is a leading national behavioral health services provider with 16 differentiated programs across the country. The acquisition of Bournewood will further enhance Alita’s treatment capabilities, particularly in acute psychiatric care, while also expanding its comprehensive care model in the Massachusetts market.
Based in Brookline, Massachusetts, Bournewood has been in continuous operation since 1884 and serves a wide range of adults and adolescents through acute inpatient, partial hospitalization, and outpatient programs. Bournewood has significant experience treating patients with complex psychiatric and addiction-related diseases and serves a critical need in its local market. Former Massachusetts mental health commissioner Marcia Fowler was named Chief Executive Officer of Bournewood in 2015 and will continue to lead the hospital going forward.
Jim Dredge, Chief Executive Officer of Alita, remarked, “We are thrilled to be welcoming Bournewood to the Alita family. Their reputation for clinical excellence has been cultivated over 130 years, and they are well known for providing cutting-edge and compassionate treatment for patients and their families, clinical referral sources, and payors across the country. By adding Bournewood to our family of programs, we will be able to offer a full continuum-of-care to an even wider range of patients.”
Bournewood will continue to operate as an independent brand within Alita. Clinical operations will not be impacted by the transaction, and Bournewood will continue to provide the best trauma-informed and person-centered treatment services for adults, adolescents, and their families in the Massachusetts behavioral health field.
“We are proud to be joining the Alita team and to be combining our expertise with that of the highly-respected and caring professionals at The Meadows and Sunspire Health,” stated Marcia Fowler, Bournewood’s CEO. “We have a mutual appreciation for the mission-driven cultures of these organizations within Alita and look forward to continuing to expand and improve services for the increasing number of people struggling through mental health and addiction crises.”
Alita is owned by Kohlberg & Company, L.L.C., a leading private equity firm specializing in middle-market investing.
Covington Associates LLC served as financial advisor and Choate, Hall & Stewart LLP served as legal counsel to Bournewood. Paul, Weiss, Rifkind, Wharton & Garrison LLP and Benesch, Friedlander, Coplan & Aronoff LLP acted as legal counsel and regulatory counsel, respectively, to Alita. Antares Capital, Ares Capital Management, Capital One Healthcare, CIT Healthcare Corporate Finance, and Partners Group provided debt financing to support the transaction.
About Alita Care
Alita Care, LLC is a leading national provider of behavioral health services with 16 differentiated treatment programs across the country. As the parent holding company for The Meadows, Sunspire, and Bournewood, Alita operates three independently branded treatment providers with the highest standards of clinical excellence. Headquartered in Phoenix, Arizona, Alita offers a wide range of behavioral health services to those struggling with emotional trauma, drug and alcohol addiction, sex addiction, eating disorders, psychiatric disorders, and other behavioral disorders. Alita Care’s programs are guided by experienced behavioral health experts and thought leaders, who bring the latest neurobehavioral research and proven methodologies to our personalized, multifaceted, and holistic approach to recovery. For more information, please visit www.themeadows.com and www.sunspirehealth.com.
About Bournewood Health Systems
In continuous operation since 1884, Bournewood Health Systems provides inpatient, partial hospital, and outpatient services. Located on 12 wooded acres in Brookline, MA, Bournewood’s treatment programs provide compassionate care for adults and adolescents with mental health and substance use conditions. Bournewood offers 24/7 admissions and treatment by highly trained and dedicated clinicians and professionals. Bournewood’s trauma-informed and person- centered approach to care spans a wide array of behavioral health services and special programs for adolescents who need psychiatric and substance misuse clinical care. For more information, please visit www.bournewood.com.
Kohlberg & Company, L.L.C. (“Kohlberg”) is a leading private equity firm headquartered in New York. Since its inception in 1987, Kohlberg has organized eight private equity funds, through which it has raised $7.5 billion of committed equity capital. Over its 30-year history, Kohlberg has completed 70 platform investments and over 150 add-on acquisitions, with an aggregate transaction value in excess of $10 billion. For more information, please visit www.kohlberg.com.
Contact: Patty Evans