In mid-April, Centerstone and Louisville, Ky.-based Seven Counties signed a letter of intent to pursue an affiliation. By joining together, the leadership of the two organizations said they would be able to better meet the needs of people of all ages and expand access to innovative services and programs in each of the communities they serve and across the nation.
“Seven Counties is a leader in the behavioral healthcare field, known for its dedication to quality care and service and for its commitment to innovations in how care is delivered to people of all ages,” said David C. Guth, Jr., CEO of Centerstone. “Centerstone and Seven Counties have a great deal in common, including a drive to advance not just how our organizations reach and serve the people in our communities, but how behavioral healthcare is provided across the nation. We are excited to have signed this letter of intent and to take the next step in exploring how a potential affiliation could benefit our organizations and our employees, clients and industry.”
If finalized, the Centerstone/Seven Counties affiliation would create an organization with 181 locations in Florida, Illinois, Indiana, Kentucky, and Tennessee and approximately $310 million in annual revenues. It would employ more than 4,500 people and serve an estimated 150,000 individuals of all ages. The two organizations have entered the period of due diligence and negotiation of terms. This process, which includes standard legal and regulatory reviews, was expected to take 60-90 days with additional news on affiliation coming over the summer.