Bradford Health Services, an Alabama-based addiction treatment program, acquired Tennessee-based Cornerstone of Recovery. With this acquisition Bradford Health Services entered Tennessee. Financial terms were not disclosed. The acquisition strengthens both Bradford’s and Cornerstone’s position in the addiction treatment industry, expanding in-network access to care and providing unparalleled treatment opportunities for patients, families, and referring providers across a full continuum of care. The combined company will offer programming and support services through over 25 facilities across Alabama, Arkansas, North Carolina, and Tennessee.
Founded in 1989, Cornerstone of Recovery operates two Knoxville-area inpatient facilities, Cornerstone of Recovery and Stepping Stone to Recovery. It offers a full spectrum of clinical treatment options for people recovering from addiction.
Bradford Health Services has been providing addiction treatment services for more than 40 years. It offers residential, inpatient, extended care, and outpatient services at facilities located in Alabama, Arkansas, and North Carolina. The company also maintains a 24-hour crisis center. Bradford Health Services is backed by Centre Partners, a middle-market private equity firm focused on the consumer and health care sectors.
Centre Partners seeks to partner with founders, families, entrepreneurs, and management teams to build exceptional businesses. Centre Partners provides management teams with access to its unique resources, which includes an extended network of experienced and proven operating executives.
This was reported by Centre Partners on September 7, 2021.
Contact information: Ross Lovern, Contact point for Centre Partners, Kekst CNC; 917-842-7205
Contact information: Centre Partners Management, LLC, New York Office, 601 Lexington Avenue, 55th floor, New York, NY 10022-4611; 212-332-5800; Fax: 212-758-1830; Website: http://www.centrepartners.com
Contact information: Mike Rickman, President and Chief Executive Officer, Bradford Health Services, 2101 Magnolia Avenue South, Suite 518, Birmingham , AL 35205; 888-762-3740; Website: https://bradfordhealth.com/
Contact information: Steve McGrew, Chief Executive Officer, Cornerstone of Recovery, 4726 Airport Hwy, Louisville, TN 37777; 866-352-8537; Fax: 865-681-2266; Website: https://www.cornerstoneofrecovery.com/