Phoenix, AZ (April 23, 2021) – RiverGlade Capital (“RiverGlade”), a healthcare services-focused private equity firm, has formed a new partnership with 2nd Chance Treatment Centers, LLC (“2nd Chance” or the “Company”), a leading regional network of outpatient behavioral centers providing treatment services for mental health and substance use disorders. Terms of the transaction were not disclosed.
Based in Phoenix, AZ, 2nd Chance is a rapidly-growing healthcare provider that uses a holistic approach to treat patients with substance use disorders and other mental health conditions (e.g. anxiety, depression, PTSD). 2nd Chance utilizes an evidence-based care model, known as medication-assisted treatment (“MAT”), which combines prescription medication with counseling to address both the medical and psychosocial issues facing a patient with a substance use disorder. The Company currently operates four outpatient clinics, serves more than 7,000 patients across the Phoenix metro area, and maintains a robust telehealth operation.
RiverGlade partnered with Dr. Ashwin Reddy, an addiction psychiatrist who founded 2nd Chance in 2014, and Ms. Isha Vedire, SVP of Operations. Dr. Reddy and Ms. Vedire will continue in leadership roles with the Company. Jim Hudak, a RiverGlade Operating Partner and proven executive in the healthcare space, will serve as Executive Chairman and interim CEO.
About 2nd Chance Treatment Centers, LLC
2nd Chance Treatment Centers is a leading regional network of outpatient behavioral centers providing treatment services for mental health and substance use disorders. With four physical locations and a significant telehealth component, the Company provides treatment services to more than 7,000 patients across the Phoenix area. For more information, visit 2ndchancetreatment.com.
About RiverGlade Capital
RiverGlade Capital is a healthcare services-focused private equity firm that invests in founder-owned, high- quality, differentiated businesses. RiverGlade partners with companies that have demonstrated strong organic growth and where value can be accelerated through human capital investments, operational improvements, strategic planning, and dynamic organic and inorganic growth initiatives. For more information, visit rivergladecapital.com.