The Indiana Center for Recovery (ICFR), a provider of addiction treatment and mental health services, has acquired the former St Vincent Hospital in Bedford, Indiana, for an undisclosed sum.
The deal is ICFR’s second hospital purchase in the past two years and is part of ICFR’s efforts to expand access to treatment services in the state.
The repurposed St. Vincent Hospital is planned to reopen early next year and will cover an area of 184,000ft².
ICFR expects the hospital to expand its service offerings by providing detox, residential inpatient and outpatient services for substance use disorder.
The hospital will include an inpatient psychiatric care unit and offer residential inpatient care for mental health.
ICFR general counsel Cheyenne Riker said: “We are excited about this expansion. The acquisition of the former St Vincent Hospital not only strengthens our footprint but also enhances our ability to offer comprehensive, integrated care.
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“This facility will provide much-needed mental health and addiction treatment services to the greater Bedford community.”
ICFR provides addiction treatment through detox, inpatient, and outpatient services, offering a network of mental health treatment and substance use disorder services.
The group operates in Bloomington, Mishawaka, Indianapolis, Terre Haute, Merrillville, Jeffersonville, Lafayette and Carmel.
Since 2016, it has provided treatment for patients with addictions and co-occurring mental health issues.
ICRF has been named by Newsweek as one of the US’ Best Addiction Treatment Centers for three consecutive years.
Earlier this year, Margaret Mary Health announced plans to build a hospital in Indiana as part of an expanded health and wellness campus.
The project will include building a ‘replacement hospital’ covering nearly 124,000ft² next to the current Margaret Mary Physician Center and Margaret Mary Outpatient and Cancer Center.
Margaret Mary Health said the hospital would include expanded surgical capabilities, upgraded workflows and energy-efficient construction.
Its development will require an investment of $115m.