TMCnet News
Odyssey Behavioral Healthcare Acquires Magnolia Creek Treatment Center for WomenOdyssey Behavioral Healthcare ("Odyssey"), a portfolio company of Nautic Partners ("Nautic"), today announced it has completed the acquisition of Magnolia Creek Treatment Center for Women in Columbiana, Alabama. Odyssey, headquartered in Brentwood, Tennessee, is building a diversified portfolio of subacute behavioral health facilities across the treatment spectrum. With the Magnolia Creek acquisition, Odyssey expands its behavioral treatment services by adding a specialized eating disorder provider that has in-network contracts with many of the largest payers in the region. Magnolia Creek adds to Odyssey's existing treatment facilities acquired in 2015, Pasadena Villa Residential Centers (www.pasadenavilla.com) and Lifeskills South Florida (www.lifeskillssouthflorida.com). "We are excited to add Magnolia Creek to our behavioral health treatment platform," said Odyssey CEO Scott Kardenetz. "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 faility 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". Nautic Partners Managing Director Chris Corey added, "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." About Odyssey Behavioral Healthcare Odyssey Behavioral Healthcare was formed in 2015 as a partnership between Nautic Partners and Scott Kardenetz. Odyssey is building a diversified platform of behavioral health facilities across the treatment spectrum in psychiatric and addiction care. Odyssey's treatment centers include Pasadena Villa (http://pasadenavilla.com/), Lifeskills (http://lifeskillssouthflorida.com/) and Magnolia Creek (http://magnolia-creek.com) which provide adult residential and outpatient treatment care in four primary facilities in Tennessee, Florida, and Alabama. About Nautic Partners Nautic is a middle-market private equity firm that focuses on three industries: healthcare, industrial products, and outsourced services. Nautic has completed over 125 platform transactions throughout its 30-year history. Nautic's strategy is to partner with management teams to accelerate the growth trajectory of its portfolio companies via add-on acquisitions, targeted operating initiatives, and increased management team depth. Nautic generally makes equity investments of $25 to $100 million. For more information, please visit www.nautic.com. View source version on businesswire.com: http://www.businesswire.com/news/home/20161212005333/en/ |
