Meridian Behavioral Health: Difference between revisions
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== Company history == |
== Company history == |
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In 2007, Triton Pacific Capital Partners, a [[private equity firm]], sponsored a [[recapitalization]] the company.<ref>{{cite news |title=Meridian Behavioral Health Network |url=https://www.venturecapitaljournal.com/meridian-behavioral-health-network/ |access-date=14 October 2023 |work=Venture Capital Journal |date=12 January 2007}}</ref> |
In 2007, Triton Pacific Capital Partners, a [[private equity firm]], sponsored a [[recapitalization]] of the company.<ref>{{cite news |title=Meridian Behavioral Health Network |url=https://www.venturecapitaljournal.com/meridian-behavioral-health-network/ |access-date=14 October 2023 |work=Venture Capital Journal |date=12 January 2007}}</ref> |
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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]].<ref>{{cite news |last1=Palank |first1=Jacqueline |title=Health-Care Companies Meridian, MK Network File For Bankruptcy |url=https://www.wsj.com/articles/DJFDBS0020110301e7310002t |access-date=14 October 2023 |work=Wall Street Journal |date=1 March 2011}}</ref> |
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]].<ref>{{cite news |last1=Palank |first1=Jacqueline |title=Health-Care Companies Meridian, MK Network File For Bankruptcy |url=https://www.wsj.com/articles/DJFDBS0020110301e7310002t |access-date=14 October 2023 |work=Wall Street Journal |date=1 March 2011}}</ref> |
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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.<ref>{{cite news |title=Meridian Behavioral Closes Maryland Serenity Acres Facility |url=https://treatmentmagazine.com/meridian-behavioral-closes-maryland-serenity-acres-facility/ |access-date=14 October 2023 |work=Treatment Magazine |date=24 March 2020}}</ref> |
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.<ref>{{cite news |title=Meridian Behavioral Closes Maryland Serenity Acres Facility |url=https://treatmentmagazine.com/meridian-behavioral-closes-maryland-serenity-acres-facility/ |access-date=14 October 2023 |work=Treatment Magazine |date=24 March 2020}}</ref> |
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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 of 2020.<ref>{{cite news |last1=Onge |first1=Michelle |title=Strictly Business - RICK DiSTEFANO |url=http://www.sbmonthly.com/rick-distefano/ |access-date=14 October 2023 |work=Strictly Business |date=1 July 2022}}</ref><ref>{{cite news |last1=Jerry |first1=Donna |title=Divided Sky Foundation, docket number GMCB-006-029 |url=https://gmcboard.vermont.gov/sites/gmcb/files/documents/20210520_RequestforIPStatus_ValleyVista.pdf |access-date=14 October 2023 |work=Green Mountain Care Board |date=17 May 2021}}</ref> |
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 of 2020.<ref>{{cite news |last1=Onge |first1=Michelle |title=Strictly Business - RICK DiSTEFANO |url=http://www.sbmonthly.com/rick-distefano/ |access-date=14 October 2023 |work=Strictly Business |date=1 July 2022}}</ref><ref>{{cite news |last1=Jerry |first1=Donna |title=Divided Sky Foundation, docket number GMCB-006-029 |url=https://gmcboard.vermont.gov/sites/gmcb/files/documents/20210520_RequestforIPStatus_ValleyVista.pdf |access-date=14 October 2023 |work=Green Mountain Care Board |date=17 May 2021}}</ref> |
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In 2017, the company acquired New Beginnings Minnesota, an operator of seven addiction-treatment facilities throughout [[Minnesota]].<ref>{{cite news |last1=Grayson |first1=Katharine |title=Addiction-treatment firm based out of Hubert Humphrey's former summer home sold |url=https://www.bizjournals.com/twincities/news/2017/10/26/addiction-treatment-firm-based-out-of-hubert.html |access-date=14 October 2023 |work=American City Business Journals |date=26 October 2017}}</ref><ref>{{cite news |title=Behavioral Healthcare EXECUTIVE |url=https://www.hmpgloballearningnetwork.com/site/behavioral/news-item/finance/meridian-buys-new-beginnings-minnesota |access-date=14 October 2023 |work=Behavioral Healthcare EXECUTIVE |date=26 October 2017}}</ref> |
In 2017, the company acquired New Beginnings Minnesota, an operator of seven addiction-treatment facilities throughout [[Minnesota]].<ref>{{cite news |last1=Grayson |first1=Katharine |title=Addiction-treatment firm based out of Hubert Humphrey's former summer home sold |url=https://www.bizjournals.com/twincities/news/2017/10/26/addiction-treatment-firm-based-out-of-hubert.html |access-date=14 October 2023 |work=American City Business Journals |date=26 October 2017}}</ref><ref>{{cite news |title=Behavioral Healthcare EXECUTIVE |url=https://www.hmpgloballearningnetwork.com/site/behavioral/news-item/finance/meridian-buys-new-beginnings-minnesota |access-date=14 October 2023 |work=Behavioral Healthcare EXECUTIVE |date=26 October 2017}}</ref> |
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 | |
| Company type | Private company |
|---|---|
| Industry | Alcohol and Drug Addiction Treatment |
| Headquarters | New Brighton, Minnesota, U.S. |
| Website | meridianprograms |
Meridian Behavioral Health is a provider of behavioral health services throughout 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 a continuum of care including 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 1960s.[3]
Company history
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.[6]
In 2015, Audax Group, a private equity firm, acquired the company from Triton Pacific Capital Partners.[7]
In 2015, the company opened an upscale addiction treatment center referred to as the Beauterre Recovery Institute in Owatonna, Minnesota.[8]
In 2016, the company acquired Valhalla Place, the largest medication-assisted treatment (MAT) program in Minnesota.[9] Valhalla Place and its affiliated laboratory was later divested to Behavioral Health Group in 2021.[10]
In 2016, the company acquired Stadter Center, a psychiatric hospital in Grand Forks, North Dakota.[11]
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.[12]
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 of 2020.[13][14]
In 2017, the company acquired New Beginnings Minnesota, an operator of seven addiction-treatment facilities throughout Minnesota.[15][16]
The company has recently opened a new 96 bed men’s residential facility in Sauk Rapids, Minnesota.[17]
References
- ^ "Home Page". Meridian Behavioral Health. Retrieved 14 October 2023.
- ^ "Meridian Behavioral Health, LLC (MBH)". Commission on Accreditation of Rehabilitation Facilities (CARF). Retrieved 14 October 2023.
- ^ "Twin Town Men's Residential, St. Paul, Minnesota". Local Rehab News. Retrieved 14 October 2023.
- ^ "Meridian Behavioral Health Network". Venture Capital Journal. 12 January 2007. Retrieved 14 October 2023.
- ^ Palank, Jacqueline (1 March 2011). "Health-Care Companies Meridian, MK Network File For Bankruptcy". Wall Street Journal. Retrieved 14 October 2023.
- ^ "Smith to lead Meridian Behavioral Health expansion". Maple Lake Messenger. 26 February 2014. Retrieved 14 October 2023.
- ^ Or, Amy (7 December 2015). "Audax Buys Triton Pacific's Meridian Behavioral Health". Wall Street Journal. Retrieved 14 October 2023.
- ^ Snowbeck, Christopher (25 February 2015). "Meridian goes upscale with addiction treatment center". Star Tribune. Retrieved 14 October 2023.
- ^ "Meridian Expands Medication-Assisted Treatment (MAT) Footprint with Acquisition of Valhalla Place". Business Wire. 7 June 2016. Retrieved 14 October 2023.
- ^ Coward, Kyle (21 November 2021). "Behavioral Health Group Expands Footprint, Adds OUD Treatment Facilities". Behavioral Health Business. Retrieved 14 October 2023.
- ^ Haffner, Andrew (28 September 2016). "Meridian Behavioral Health buys, rebrands Stadter Center in Grand Forks". Grand Forks Herald. Retrieved 14 October 2023.
- ^ "Meridian Behavioral Closes Maryland Serenity Acres Facility". Treatment Magazine. 24 March 2020. Retrieved 14 October 2023.
- ^ Onge, Michelle (1 July 2022). "Strictly Business - RICK DiSTEFANO". Strictly Business. Retrieved 14 October 2023.
- ^ Jerry, Donna (17 May 2021). "Divided Sky Foundation, docket number GMCB-006-029" (PDF). Green Mountain Care Board. Retrieved 14 October 2023.
- ^ 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.
- ^ "Behavioral Healthcare EXECUTIVE". Behavioral Healthcare EXECUTIVE. 26 October 2017. Retrieved 14 October 2023.
- ^ "Bridge Recovery". Meridian Behavioral Health. Retrieved 14 October 2023.