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Treatment network finds investment partner for expansion

October 15, 2008
by Gary A. Enos
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Not everyone is talking about tightening belts or postponing growth in these economically challenging times. Townsend Recovery, LLC, is building on its early success in establishing outpatient addiction treatment clinics by entering into a financial partnership with an investment firm targeting small and medium-sized businesses.

This week’s announcement that Branford Castle, Inc. will become Townsend’s strategic investor as Townsend seeks a national presence in treatment offered some energizing news in an industry that lately has talked mainly about how not to lose clients in a period of financial turmoil. “Access to opportunities with this much potential are rare and we couldn’t be more pleased to be a strategic partner in Townsend’s growth strategy,” said John S. Castle, Branford Castle’s senior vice president.

Townsend, which was formed in February 2007 and opened its first clinic in Fort Walton Beach, Florida 15 months ago, describes its clinical approach as combining traditional cognitive-behavioral therapy with advanced medical treatment based on the latest findings in brain science. In the September/October issue of Addiction Professional, Townsend’s chief medical officer argued against claims that medication-assisted approaches to treatment don’t represent true recovery.

Townsend currently operates 15 outpatient centers in Alabama, Florida, Georgia, Louisiana and Texas, and expects to open two dozen centers by the end of this year and another 36 in 2009. The company reports that general economic trends have not affected demand for its services.

“The relationship between Townsend and Branford Castle means Townsend has a partner that understands our rapid growth strategy,” commented Townsend CEO Michael Handley. “We look forward to working closely with them to expand our company’s reach and achieve the end goal of creating a well-run business that positively affects the lives of thousands every day.”