Industry: Healthcare / Healthcare Services
Location: New York
The Employee Stock Ownership 401(k) Plan (“ESOP”) purchased 100% of the common stock of the Company in a leveraged ESOP recapitalization.
The Company is the leading provider of medically supervised inpatient withdrawal and stabilization services as well as medically supervised inpatient rehabilitation services. The Company’s programs are OASAS licensed and CARF accredited utilizing motivational enhancement practices to promote, and support recovery for an enhanced quality of life.
Pendo Advisors, LLC served as independent financial advisor to the trustee of the ESOP and provided a fairness opinion in connection with the transaction.