February 6, 2017 05:44 AM | Covington Associates
BOSTON, MA -February 6, 2017-Covington Associates LLC, a leading middle market investment bank, announced its role as exclusive financial advisor to Walden Behavioral Care, LLC. on its acquisition of the Atlanta Center for Eating Disorders (ACE) of Dunwoody, Ga.
The joining of these two organizations brings more comprehensive, individualized and accessible eating disorder treatment to those across the Atlanta region. Leveraging Walden’s proven experience in establishing a regional, full system of care, ACE will build off its 23 years of treatment excellence, expanding its community-based treatment services and programming into additional, intensive treatment settings.
Specifically, it is Walden’s intention to create programming to meet the needs of individuals who require comprehensive, coordinated care. ACE will continue to provide treatment at the partial hospitalization, intensive outpatient (IOP) and aftercare program (Outpatient) levels at its Alpharetta, Decatur and Dunwoody locations.
Tom Cibotti, Managing Director of Covington Associates commented, ”This transaction represents another landmark for Walden as they continue their expansion plans into the Southeast, remaining focused on clinical excellence and best business practices.”
Thirty million Americans have eating disorders, including hundreds of thousands throughout Georgia.
The combination of Walden and ACE establishes one of the region’s first full systems of care for adolescents and adults impacted by anorexia, bulimia, binge eating disorder and other specific feeding or eating disorders (OSFED).
“This acquisition is about bringing together two organizations with a shared vision and commitment to providing high quality treatment and support as close to home as possible, through all levels of care,” said Stuart Koman, Ph.D., president and CEO of Walden Behavioral Care. “We’re honored to become part of the Metro Atlanta community, giving individuals what they deserve: the best possible chance for a lasting recovery.”
All ACE clinical and administrative staff will remain with the organization, including. Clinical Director & founder Linda Paulk Buchanan, Ph.D., and Clinical Director Rick Kilmer, Ph.D. Likewise, there will be no other changes to Walden’s staffing, locations or operations.
“Words cannot do justice for the high level of respect and admiration I have for Linda, Rick and their highly accomplished team,” added Koman. “This partnership is because of them. We’re excited to work together and build on the outstanding care they have become known for throughout Georgia and beyond.”
With the acquisition, Walden will now have 14 locations across Massachusetts, Connecticut and Georgia, including two inpatient units, one residential facility and 11 ambulatory clinics.
“Rick and I are so excited to join Walden – we immediately felt a connection with Stu, Walden’s staff and its treatment philosophy,” said Paulk Buchanan. “Our longstanding mission has been to provide intensive treatment to people with eating disorders, while minimizing disruption to their normal lives. By offering a full range of services for those in need, we now have an opportunity to build on that promise.”
About Covington Associates LLC
Covington Associates is an investment banking firm offering advisory services in the areas of mergers and acquisitions (“M&A”), capital raising, strategic advisory, fairness opinions, and valuations to middle-market companies across the Healthcare and Life Sciences, Business Services, Consumer & Industrial, and Technology verticals. Founded in 1991, with offices in Boston and New York, the vision for Covington has been to provide clients with the highest caliber of senior-level attention and to remain an advice-driven and results-focused organization. Since its inception, Covington Associates has completed more than 200 transactions globally for both private and publicly traded companies totaling over $15 billion.
For more information, visit www.covllc.com.
About Walden Behavioral Care
Walden Behavioral Care offers a full system of specialized care for individuals and families impacted by all types of eating disorders. Our commitment is to provide the most personalized support and best chance for a lasting recovery, as close to home as possible for those across New England and Georgia. Walden’s programming spans all levels of care – inpatient, residential, partial hospitalization, intensive outpatient and outpatient care – for those with anorexia, bulimia, binge eating disorder and other specified feeding or eating disorders (OSFED). Locations include Amherst, Braintree, Milford, Peabody, Waltham and Worcester, Mass.; Guilford, South Windsor and Vernon, Conn; and Alpharetta, Decatur and Dunwoody, Ga.
Additional information is available at www.WaldenEatingDisorders.com.
About The Atlanta Center for Eating Disorders (ACE)
The Atlanta Center for Eating Disorders (ACE) treats individuals of all ages who seek to recover from anorexia, bulimia, binge eating disorder or OSFED (other specified feeding or eating disorder). By offering partial hospitalization, intensive outpatient care and outpatient care, along with personal care housing at ACE House, treatment can be individualized, customized and modified as the individual progresses toward recovery. Our programs are designed to allow participants to maintain their daily lives as much as possible during treatment. Seeking to provide convenient locations, ACE headquarters are located in Dunwoody, with additional facilities in Alpharetta and Decatur, Ga.
Further information is available at www.EatingDisorders.cc