KING OF PRUSSIA, Pa.--(BUSINESS WIRE)--Today, Recovery Centers of America (RCA) announced it has raised an additional $100 million from Deerfield Management Company, the New York-based health care investment firm with more than $6 billion under management. This new funding commitment increases the total capital available to RCA to $331.5 million. The original $231.5 million commitment to RCA was one of the largest health care investments of 2015.
“We are extremely pleased by Deerfield’s continued commitment to help RCA realize its extraordinary vision of bringing campuses for addiction treatment and recovery to communities throughout the Northeast,” says Deni Carise, Chief Clinical Officer of RCA. “Over 23 million Americans battle addiction. It’s destroying individuals, tearing apart families, and devastating communities. We are in the midst of a national epidemic. In response, RCA is building a national network of neighborhood-based, five-star treatment facilities to combat the problem – this funding will help the company achieve its goal.”
The new funding comes on the heels of RCA’s third facility opening. In March, RCA opened Lighthouse in Mays Landing, New Jersey, which is currently at capacity, with plans to double its bed count. Bracebridge Hall, a converted Georgian mansion that sits on 550 acres overlooking the Sassafras River on Maryland’s Eastern Shore, opened in mid-October, and Westminster, a 90-bed addiction treatment center in Massachusetts, opened in late October 2016.
Reinventing an Industry
Much of RCA’s success is due to its willingness to re-envision treatment and recovery. RCA is employing patient-centric principles to an industry struggling to keep up with the national crisis of drug and alcohol addiction.
These patients are suffering from a disease heavily impacted by stigma and don’t always get treated with the dignity they deserve. RCA believes that proven-effective, evidence-based treatment, combined with a world-class patient experience, is a winning formula.
The RCA team is driven by a culture that challenges every employee to question the rules-driven world of treatment and rework all of their processes with each patient’s success and recovery in mind. The RCA team is comprised of clinicians, scientists, researchers, hospital operators, financial experts, and policy makers. RCA has assembled an advisory board drawn from some of the most respected institutions in the world including Penn, Columbia, Harvard, Yale, UCLA, Dartmouth, and VCU to guide its management team.
“RCA shares Deerfield’s goal of creating and supporting businesses that can transform health care, by delivering more effective and affordable patient outcomes through innovative care models,” says Leslie Henshaw, a partner at Deerfield. “RCA is well on the road to uprooting conventional recovery treatments with bold new approaches designed to save lives and stem the epidemic of addiction afflicting our country.”
RCA: Making Treatment Easy, Accessible, and Affordable
RCA is building world-class neighborhood treatment facilities that provide quality care in programs that are accessible and affordable for patients and their families. Unlike traditional fly-away treatment programs where patients leave their family and friends and are isolated in California or Florida, RCA locates its centers directly in the community. There, patients are taught to deal with the realities of family and friends, and develop long-standing local relationships that support their recovery. Local proximity is less expensive for families and insurance companies, and allows for increased success in treatment as families and loved ones are able to participate fully in treatment and visit and support their loved ones.
Taking the Stigma Out of Addiction
RCA is committed to respecting all patients regardless of their circumstances. To overcome the stigma of addiction, RCA has revolutionized the way treatment is delivered and how treatment centers are designed and operated. For instance, in Maryland, RCA converted a 40,000-square foot David Easton-designed country mansion into a magnificent treatment facility. Once owned by MBNA Bank as a corporate retreat for executives, the property sits in one of the most exclusive estates on Maryland’s Eastern Shore within easy driving distances from Baltimore, Wilmington, and Washington, D.C.
At Bracebridge Hall, RCA has assembled the leading doctors and clinicians in the Mid-Atlantic Region. The Bracebridge Hall team specializes in treating alcohol, heroin and opioid addiction, and co-occurring disorders. The inside of the facility is outfitted with detailed molding, columns, hand-carved fireplaces, marble floors, and artwork, all of which was acquired with the facility. An executive chef prepares farm-to-table dining, and patients have access to trained staff for fitness, yoga, and acupuncture services, in addition to traditional groups and individual therapy sessions. There is a beautiful 30-foot-wide circular table in a custom-built room to house AA, NA, group meetings, dinners, and lunches. Bracebridge Hall combines the finest clinical care with five-star luxury accommodations.
It’s all with purpose.
“Our patients come to us at their lowest points, their self-esteem depleted, with feelings of guilt, disappointed in themselves, and feeling hopeless due to their disease,” explains Carise. “When they see our centers and meet our staff, they receive a strong message: You are worthwhile, and you have the right to expect more out of your life. Lasting recovery is possible.”
The incremental capital commitment will be used to build additional RCA treatment centers in the Philadelphia, South Jersey, Boston, and the Greater Mid-Atlantic Region.
For more information about Recovery Centers of America, visit www.recoverycentersofamerica.com or call 1-800-RECOVERY
About Recovery Centers of America
Based in King of Prussia, PA, Recovery Centers of America is committed to advocating for the 23 million Americans suffering from substance use disorders. The company, which is opening treatment centers throughout the Northeast, is transforming the way treatment is delivered in an industry in desperate need of change. Recovery Centers of America’s neighborhood-based centers for addiction medicine are designed based on the latest scientific research that indicates sustained recovery is more likely when patients stay connected to and supported by family and friends while building other, ongoing support networks. By allowing patients to receive treatment in a world class atmosphere, Recovery Centers of America helps overcome the stigma of addiction and its treatment. For more information about Recovery Centers of America, visit www.recoverycentersofamerica.com or call 1-800-RECOVERY now.
About Deerfield Management Company
Deerfield is an investment management firm committed to advancing healthcare through investment, information, and philanthropy. For more information, please visit www.deerfield.com.