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Centerstone and Uspiritus Sign Letter of Intent to MergeCenterstone Kentucky and Uspiritus have signed a letter of intent to merge. Together, the organizations will have new opportunities to advance specialized care for at-risk youth in the Commonwealth of Kentucky. If finalized, the merger between Centerstone and Uspiritus will unite the community's most notable residential service provider for youth with one of the largest behavioral health organizations in the state and create a unique continuum of care for children transitioning from state custody into adulthood. By combining their expertise and resources, the organizations will be able to enhance access to behavioral health treatments, housing assistance, community resources, education services and job training for children, youth and families across the region. "This potential merger is a unique opportunity to fundamentally reinvent and strengthen services for our neediest children," stated Tony Zipple, Centerstone Kentucky's President and CEO. "It will create the most extensive and effective system of evidence-based care in the state. Centerstone is excited to take this step with Uspiritus, and we look forward to providing real solutions for the children and families who depend on our care and support." Uspiritus President and CEO, Abbreial (Abby) Drane, added, "Our vision is to create a continuum of care that gives foster children the treatment and services they need to be productive adults and reduce the high cost of placing children in residential and institutional treatment. Our merger, if finalized, will be a huge win not only for the children of our Commonwealth, but the state itself. As one organization, we will be able to enhance care for the children and families in our communities and improve how behavioral healthcare is delivered nationwide." As part of the proposed merger, Uspiritus would change its name to Centerstone. Centerstone is one of the largest non-profit providers of behavioral healthcare in the nation. In operation fo more than 60 years, it has provider organizations in Florida, Illinois, Indiana, Kentucky and Tennessee, which provide an array of treatment, support and educational programs and services to more than 172,000 individuals who have mental health and addiction disorders and developmental disabilities. With the addition of Uspiritus, Centerstone Kentucky will have 1,800 employees and serve 80 counties that provide services to nearly 36,000 people of all ages annually. With the letter of intent signed by the Boards of Directors of both organizations, Uspiritus and Centerstone are currently finalizing the agreement. The process, which includes standard due diligence, legal and regulatory reviews, is expected to conclude this spring.
ABOUT USPIRITUS:
ABOUT CENTERSTONE: Centerstone provides mental health and substance use treatment, related crisis care, education and support to people of all ages in communities in Florida, Illinois, Indiana, Kentucky and Tennessee, and offer individuals with intellectual and developmental disabilities life skills development, employment and housing services in Illinois and Kentucky. Nationally, we offer specialized care for service members, Veterans and their loved ones, and develop employee assistance programs for businesses of all sizes. Our research institute improves behavioral healthcare through research, evaluation and technology, and our foundation secures philanthropic resources to support our work. To learn more, visit www.centerstone.org. View source version on businesswire.com: http://www.businesswire.com/news/home/20171115006272/en/ |
