White Oak Healthcare Finance acted as sole lender and administrative agent for a senior credit facility to support the acquisition of Port 45 Recovery by Sunrise Treatment Center, a Bridges Fund Management portfolio company.
Founded in 2007, Cincinnati-based Sunrise Treatment Center is a substance abuse treatment provider in Ohio and Kentucky. Port 45’s services include partial hospitalization, intensive outpatient, traditional outpatient, aftercare, recovery housing and group therapy offerings.
“An individual-focused treatment approach which combines mental health counseling and medication-assisted treatment has been proven to reduce deaths and save lifetime clinical care costs,” Ross Eldridge, executive vice president and chief originations officer at White Oak, said. “Sunrise is distinguished by their experienced management team, clinical outcomes and commitment to the communities they serve.”
Sunrise Treatment Center is backed by Bridges Fund Management, a lower middle-market private equity fund focused exclusively on sustainable and impact investments. Bridges invested alongside the existing Sunrise management team in 2019.
“We are very excited about our partnership with White Oak given their team’s deep experience in behavioral healthcare. White Oak provided an efficient execution and significant growth capital that will support our continued expansion,” Ed Niemczyk, a partner at Bridges Fund Management, said. “The combination of Sunrise and Port 45 will provide the residents of Ohio and Kentucky with a high-quality treatment option that is fresh, innovative and efficient. The model will further cement Sunrise as a leading provider of addiction treatment in the United States and a model that can be expanded nationwide.”
