Universal Health Services to Acquire Foundations Recovery Network
|
By HospiMedica International staff writers Posted on 30 Sep 2015 |
|
Hospital operator Universal Health Services (UHS; King of Prussia, PA, USA) has entered an agreement to buy addiction treatment provider Foundations Recovery Network (FRN; Brentwood, TN, USA) for USD 350 million.
Founded in 1995, FRN is a leader in addiction treatment and focused on treating adults with addiction and mental health disorders through an evidence-based integrated treatment model in residential and outpatient settings. The company operates a direct-to-consumer marketing model, which includes a call center, a US national sales team, and a web marketing program. The acquisition will serve as a platform for growth in a new substance use disorder service line for UHS, adding 322 residential beds in four facilities and eight outpatient centers, with a further 140 beds in the pipeline under a scheduled expansion.
UHS is one of the largest hospital companies in the United States. The company has several subsidiaries, including a behavioral health division that operates 195 facilities in 37 US states, as well as in Washington DC, Puerto Rico, the US Virgin Islands, and the United Kingdom providing comprehensive inpatient and outpatient mental health and substance abuse services, as well as a number of specialist programs for eating disorders, trauma, autism spectrum disorders, and neuropsychiatry services. It also operates an acute care division, providing medical and surgical services in 25 facilities.
“We are pleased to announce the forthcoming acquisition of Foundations. We were attracted to their proven track record of providing high-quality treatment and reputation for excellence in this very attractive market segment,” said Alan Miller, board chairman of UHS. “They bring expertise as a published authority on integrated treatment and also have excellent clinical programs and customer relationships.”
“Demand for evidence-based, high quality substance-use disorders is driving the immediate need for additional services nationwide. With access to UHS’s broad market presence, we hope to ramp our pace of growth exponentially” said Rob Waggener, CEO of FRN. “We expect to complete this transaction within the coming weeks.”
In 2014 UHS also purchased Cygnet Health Care, adding 17 facilities in the United Kingdom, which include 15 inpatient behavioral health hospitals and two nursing homes.
Related Links:
Universal Health Services
Foundations Recovery Network
Founded in 1995, FRN is a leader in addiction treatment and focused on treating adults with addiction and mental health disorders through an evidence-based integrated treatment model in residential and outpatient settings. The company operates a direct-to-consumer marketing model, which includes a call center, a US national sales team, and a web marketing program. The acquisition will serve as a platform for growth in a new substance use disorder service line for UHS, adding 322 residential beds in four facilities and eight outpatient centers, with a further 140 beds in the pipeline under a scheduled expansion.
UHS is one of the largest hospital companies in the United States. The company has several subsidiaries, including a behavioral health division that operates 195 facilities in 37 US states, as well as in Washington DC, Puerto Rico, the US Virgin Islands, and the United Kingdom providing comprehensive inpatient and outpatient mental health and substance abuse services, as well as a number of specialist programs for eating disorders, trauma, autism spectrum disorders, and neuropsychiatry services. It also operates an acute care division, providing medical and surgical services in 25 facilities.
“We are pleased to announce the forthcoming acquisition of Foundations. We were attracted to their proven track record of providing high-quality treatment and reputation for excellence in this very attractive market segment,” said Alan Miller, board chairman of UHS. “They bring expertise as a published authority on integrated treatment and also have excellent clinical programs and customer relationships.”
“Demand for evidence-based, high quality substance-use disorders is driving the immediate need for additional services nationwide. With access to UHS’s broad market presence, we hope to ramp our pace of growth exponentially” said Rob Waggener, CEO of FRN. “We expect to complete this transaction within the coming weeks.”
In 2014 UHS also purchased Cygnet Health Care, adding 17 facilities in the United Kingdom, which include 15 inpatient behavioral health hospitals and two nursing homes.
Related Links:
Universal Health Services
Foundations Recovery Network
Gold Member
CPAP Ventilator
Somnus DM18
VTE Prevention System
Flowtron ACS900
Absorbable Monofilament Mesh
Phasix Mesh
Latest Hospital News News
- Nurse Tracking System Improves Hospital Workflow
- New Children’s Hospital Transforms California Healthcare
- Noisy Hospitals Face Threat of Decreased Federal Compensation
- Orthopedics Centre of Excellence Planned for Guy’s Hospital
- Research Suggests Avoidance of Low-Value Surgical Procedures
- U.S. Federal Readmission Fines Linked to Higher Mortality
- Columbia China to Build New Hospital in Jiaxing
- Dubai Debuts Second Robotic Pharmacy Service
- Seattle Hospital Network Shifts Away from Overlapping Surgeries
- ACC to Launch Valvular Heart Disease Program in China
- Mortality Rates Lower at Major Teaching Hospitals
- South Australia to Inaugurate Upscale Hospital
- Raffles to Launch Second Hospital Project in China
- Research Center Tackles Antimicrobial Drugs Challenge
- Miami Cardiac & Vascular Institute Completes Expansion Project
- Hospital Antibiotic Policies Improve Prescription Practices
Channels
Critical Care
view channel
Light-Based Technology to Measure Brain Blood Flow Could Diagnose Stroke and TBI
Monitoring blood flow in the brain is crucial for diagnosing and treating neurological conditions such as stroke, traumatic brain injury (TBI), and vascular dementia. However, current imaging methods like... Read more
AI Heart Attack Risk Assessment Tool Outperforms Existing Methods
For decades, doctors have relied on standardized scoring systems to assess patients with the most common type of heart attack—non-ST-elevation acute coronary syndrome (NSTE-ACS). The GRACE score, used... Read more
Surgical Techniques
view channel
Minimally Invasive Endoscopic Surgery Improves Severe Stroke Outcomes
Intracerebral hemorrhage, a type of stroke caused by bleeding deep within the brain, remains one of the most challenging neurological emergencies to treat. Accounting for about 15% of all strokes, it carries... Read more
Novel Glue Prevents Complications After Breast Cancer Surgery
Seroma and prolonged lymphorrhea are among the most common complications following axillary lymphadenectomy in breast cancer patients. These postoperative issues can delay recovery and postpone the start... Read more
Patient Care
view channel
Revolutionary Automatic IV-Line Flushing Device to Enhance Infusion Care
More than 80% of in-hospital patients receive intravenous (IV) therapy. Every dose of IV medicine delivered in a small volume (<250 mL) infusion bag should be followed by subsequent flushing to ensure... Read more
VR Training Tool Combats Contamination of Portable Medical Equipment
Healthcare-associated infections (HAIs) impact one in every 31 patients, cause nearly 100,000 deaths each year, and cost USD 28.4 billion in direct medical expenses. Notably, up to 75% of these infections... Read more
Portable Biosensor Platform to Reduce Hospital-Acquired Infections
Approximately 4 million patients in the European Union acquire healthcare-associated infections (HAIs) or nosocomial infections each year, with around 37,000 deaths directly resulting from these infections,... Read more
First-Of-Its-Kind Portable Germicidal Light Technology Disinfects High-Touch Clinical Surfaces in Seconds
Reducing healthcare-acquired infections (HAIs) remains a pressing issue within global healthcare systems. In the United States alone, 1.7 million patients contract HAIs annually, leading to approximately... Read moreHealth IT
view channel
Printable Molecule-Selective Nanoparticles Enable Mass Production of Wearable Biosensors
The future of medicine is likely to focus on the personalization of healthcare—understanding exactly what an individual requires and delivering the appropriate combination of nutrients, metabolites, and... Read more
Business
view channel
Philips and Masimo Partner to Advance Patient Monitoring Measurement Technologies
Royal Philips (Amsterdam, Netherlands) and Masimo (Irvine, California, USA) have renewed their multi-year strategic collaboration, combining Philips’ expertise in patient monitoring with Masimo’s noninvasive... Read more
B. Braun Acquires Digital Microsurgery Company True Digital Surgery
The high-end microsurgery market in neurosurgery, spine, and ENT is undergoing a significant transformation. Traditional analog microscopes are giving way to digital exoscopes, which provide improved visualization,... Read more
CMEF 2025 to Promote Holistic and High-Quality Development of Medical and Health Industry
The 92nd China International Medical Equipment Fair (CMEF 2025) Autumn Exhibition is scheduled to be held from September 26 to 29 at the China Import and Export Fair Complex (Canton Fair Complex) in Guangzhou.... Read more