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Meridian Behavioral Health

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Meridian Behavioral Health
IndustryAlcohol and Drug Addiction Treatment
HeadquartersNew Brighton, Minnesota, U.S.
Websitemeridianprograms.com

Meridian Behavioral Health is a provider of behavioral health services in the Midwestern United States.[1] The company operates twenty Commission on Accreditation of Rehabilitation Facilities (CARF) accredited substance use disorder (SUD) facilities in Minnesota providing residential and outpatient treatment for those suffering from a chemical dependency or addiction.[2] The company is based in the Twin Cities of Minneapolis-St. Paul and its operations date back to the 1970s through Twin Town Treatment Center.[3]

Company history

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In 2007, Triton Pacific Capital Partners, a private equity firm, sponsored a recapitalization of the company.[4]

In 2011, the company jointly filed Chapter 11 bankruptcy alongside its struggling sister company MK Network, LLC which was a provider of continuing medical education.[5]

In 2014, the company acquired Douglas Place an 85-bed residential treatment center in East Grand Forks, Minnesota. Shortly after the acquisition, the facility experienced difficulties with leadership and faced a state investigation.[6][7]

In 2015, Audax Group, a private equity firm, acquired the company from Triton Pacific Capital Partners for $120 million.[8]

In 2015, the company opened an addiction treatment center referred to as the Beauterre Recovery Institute in Owatonna, Minnesota which focused on care for licensed professionals.[9][10] The property was previously known as the Daniel C. Gainey Conference Center, which was a venue for retreats and planning meetings and was operated by University of St. Thomas.[11]

In 2016, the company acquired Valhalla Place, a medication-assisted treatment (MAT) program in Minnesota.[12][13] Valhalla Place and its affiliated laboratory were later divested to Behavioral Health Group in 2021.[14]

In 2016, the company acquired Stadter Center, a psychiatric hospital in Grand Forks, North Dakota and rebranded the facility as Red River Behavioral Health System.[15] The location later filed for bankruptcy in 2021 due to COVID-19 related issues.[16]

In 2016, the company acquired Serenity Acres Treatment Center a substance abuse treatment program based in Annapolis, Maryland. Serenity Acres was founded by entrepreneur Larry Adler. This facility was later closed in 2019 and laid off 65 employees in the process.[17]

In 2017, the company acquired Valley Vista, an 80-bed residential treatment facility in Bradford, Vermont, from founders Rick DiStefano and Jack Duffy. The founders later acquired Valley Vista back from the company in May 2020.[18][19]

In 2017, the company acquired New Beginnings Minnesota, an operator of seven addiction-treatment facilities throughout Minnesota.[20][21]

In 2020, the company took over a residential treatment facility named Journey Home in Sauk Rapids, Minnesota from CentraCare Health. Before the change in ownership, the center was slated to close.[22][23]

References

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  1. ^ "Meridian Behavioral Health Overview". Pitchbook. Retrieved 4 November 2023.
  2. ^ "Meridian Behavioral Health, LLC (MBH)". Commission on Accreditation of Rehabilitation Facilities (CARF). Retrieved 14 October 2023.
  3. ^ "National Directory of Drug Abuse and Alcoholism Treatment Programs" (PDF). U.S. DEPARTMENT OF HEALTH. 1979. p. 176. Retrieved 4 November 2023.
  4. ^ "Meridian Behavioral Health Network". Venture Capital Journal. 12 January 2007. Retrieved 14 October 2023.
  5. ^ Palank, Jacqueline (1 March 2011). "Health-Care Companies Meridian, MK Network File For Bankruptcy". Wall Street Journal. Retrieved 14 October 2023.
  6. ^ "Smith to lead Meridian Behavioral Health expansion". Maple Lake Messenger. 26 February 2014. Retrieved 14 October 2023.
  7. ^ Chris, Serres (26 July 2017). "New instances of abuse found at treatment center in East Grand Forks, Minn". Star Tribune. Retrieved 5 November 2023.
  8. ^ Or, Amy (7 December 2015). "Audax Buys Triton Pacific's Meridian Behavioral Health". Wall Street Journal. Retrieved 14 October 2023.
  9. ^ Snowbeck, Christopher (25 February 2015). "Meridian goes upscale with addiction treatment center". Star Tribune. Retrieved 14 October 2023.
  10. ^ Steiner, Andy (21 January 2015). "New addiction treatment center in Owatonna will include programs for licensed professionals". MinnPost.
  11. ^ "Meridian Behavioral Health Signs Purchase Agreement for Gainey Center". University of St. Thomas. St. Thomas Newsroom. 15 May 2014. Retrieved 5 November 2023.
  12. ^ "Meridian Expands Medication-Assisted Treatment Footprint With Acquisition Of Valhalla Place". OPEN MINDS. June 20, 2016. Retrieved 4 November 2023.
  13. ^ "The Weekly Wrap: Platinum Equity, Thoma Bravo, Turnspire Capital". Middle Market Information. Retrieved 4 November 2023.
  14. ^ Coward, Kyle (21 November 2021). "Behavioral Health Group Expands Footprint, Adds OUD Treatment Facilities". Behavioral Health Business. Retrieved 14 October 2023.
  15. ^ Haffner, Andrew (28 September 2016). "Meridian Behavioral Health buys, rebrands Stadter Center in Grand Forks". Grand Forks Herald. Retrieved 14 October 2023.
  16. ^ "Suicide, drug overdose deaths outnumber highway fatalities amid North Dakota's mental health crisis". Dickinson Press. 28 November 2021. Retrieved 15 October 2023.
  17. ^ "Meridian Behavioral Closes Maryland Serenity Acres Facility". Treatment Magazine. 24 March 2020. Retrieved 14 October 2023.
  18. ^ Onge, Michelle (1 July 2022). "Strictly Business - RICK DiSTEFANO". Strictly Business. Retrieved 14 October 2023.
  19. ^ Jerry, Donna (17 May 2021). "Divided Sky Foundation, docket number GMCB-006-029" (PDF). Green Mountain Care Board. Retrieved 14 October 2023.
  20. ^ Grayson, Katharine (26 October 2017). "Addiction-treatment firm based out of Hubert Humphrey's former summer home sold". American City Business Journals. Retrieved 14 October 2023.
  21. ^ "Meridian buys New Beginnings Minnesota". Behavioral Healthcare Executive. HMP Global. 26 October 2017. Retrieved 4 November 2023.
  22. ^ Baker, Clairissa (21 April 2020). "CentraCare to close Journey Home treatment center by July". St. Cloud Times. Retrieved 4 November 2023.
  23. ^ Maurice, Jim (3 January 2023). "Journey Home Reapplying for Conditional Use Permit in Sauk Rapids". AM 1240 WJON. Retrieved 4 November 2023.
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