Private Equity Firm Acquires Majority Interest in Substance Abuse Disorder Treatment Provider
Burr & Forman, LLP represented Bradford Health Services in the sale of a majority interest in Bradford Health Services, a leading provider in substance abuse disorder treatment, to Lee Equity Partners.
Based in Birmingham, Alabama, Bradford Health Services has a 40+ year operating history in its core geographies and is an early pioneer in value-based behavioral health care reimbursement. Bradford Health Services is a regional leader in the Southeast with a strong market presence in Alabama, Tennessee, Mississippi, North Carolina, and Arkansas. The company's ability to provide the complete continuum of care and its commitment to clinical quality make it ideally suited to scale in its current and expansion markets.
Mike Rickman, Chief Executive Officer of Bradford Health, along with the current management and clinical teams, will continue to lead the company, and are committed to continuing the expansion of Bradford Health's business. "We are pleased to be partnering with Lee Equity given their long-term track record of building market-leading health care businesses and developing clinically excellent organizations, specifically in behavioral health," Rickman said.
The Burr & Forman team that represented Bradford Health Services included partners Howard Bogard and Sims Rhyne.