Odyssey Behavioral Healthcare (Odyssey), a portfolio company of middle-market private equity firm Nautic Partners (Nautic), has completed the acquisition of Magnolia Creek Treatment Center for Women in Columbiana, Alabama.
Odyssey intends to build a diverse portfolio of subacute behavioral health facilities across the treatment spectrum.
Odyssey CEO Scott Kardenetz said: “We are excited to add Magnolia Creek to our behavioral health treatment platform.
“Magnolia Creek is a leader in eating disorder treatment, and its impressive campus offers our clients a serene and comforting environment in which to start their recovery.
“We plan to further resource the organization to enhance its mission to provide the very best care and treatment of eating disorders available in the southeast, and to expand the 24-bed facility and its affiliated partial hospitalization program to meet the needs of the community.
“This addition of Magnolia Creek to our portfolio of facilities expands our treatment services and geographic reach and advances our strategy to build a platform of the highest quality behavioral healthcare facilities”.
With this acquisition, Odyssey expands its behavioral treatment services by adding a specialised eating disorder provider that has in-network contracts with many of the largest payers in the region.
Nautic Partners managing director Chris Corey said: “We are thrilled to add Magnolia Creek to Odyssey. Scott Kardenetz and the management team at Odyssey have an outstanding track record of expanding access and advancing the mission and treatment services of behavioral healthcare facilities.
“We see significant value in expanding Odyssey’s behavioral treatment services with a leading eating disorder provider in the Southeast. This acquisition fits well with our objective at Odyssey to identify treatment centers offering the highest quality clinical care and to support their future growth.”
Magnolia Creek adds to Odyssey’s existing treatment facilities acquired in 2015 – Pasadena Villa Residential Centers and Lifeskills South Florida.