We are pleased to announce the sale of Carolina Behavioral Care to Refresh Mental Health. The acquisition closed April 21, 2021.
Carolina Behavioral Care (CBC) headquartered in Pinehurst, North Carolina, is a multi-site psychiatric practice in Central North Carolina. Clinics are located in Durham, Pinehurst, and Hillsborough.
Each clinic houses an ancillary pharmacy for patient convenience and to improve medication adherence. The practice also has a licensed high complexity urine toxicology lab designed to monitor medication compliance and inform practitioners of dangerous drug/drug interactions. In addition to conventional office visits, the practice has a substantial tele-psychiatry portfolio, servicing rural hospitals and substance abuse facilities through contractual arrangements. Furthermore, the Company conducts clinical trials directly with the pharmaceutical industry and sub-contractually with academic medical centers.
Located in Jacksonville Beach, Florida, Refresh Mental Health (RMH) promotes clinical excellence and client access to high-quality mental healthcare by partnering with leading practices with specialized programs throughout the United States. Their mission is to support the mental health community by providing financial backing, business operations and marketing support to industry leaders.
RMH celebrates diversity among staff and clients and is committed to making mental health services an accessible and routine form of preventative healthcare for all. The RMH team consists of over 3,000 staff working from over 250 locations. Their centers provide the following comprehensive services:
Generational Equity Executive Managing Director of M&A - Central Region, Michael Goss and his team, led by Managing Director, Chris Gain, with the support of Vice President, Jacob Mangalath, successfully closed the transaction. Senior Managing Director David Pickard established the initial relationship with CBC.
“Finding a partner with a patient-centric approach that valued the highly-experienced staff was our top priority,” said Gain. “Refresh’s commitment to quality patient outcomes and desire to continue to expand CBC in order make quality mental health care available to more patients in the Carolinas was a perfect fit.”
If you would like to explore other transactions our associates have supported in this industry, visit our dedicated Industrials M&A Deals page.
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