Recovery Centers of America, of King of Prussia, said Wednesday it had secured $231.5 million equity committment from Deerfield Management Co. to build a network of addiction treatment centers.
Recovery Centers said it has already acquired eight sites in the Northeastern U.S. and planned to open its first facility in May in Earleville, Md., with additional campuses expected to open next year in the Washington, Boston, and Philadelphia metro areas.
J. Brian O'Neill, who founded the company, said he hoped to change the current model of addiction treatment, which often leads patients to travel far from their homes for care.
"Our goal is to make substance abuse treatment as readily available as treatment for other chronic diseases, such as diabetes and asthma," O'Neill said in a news release.
In the Philaldelphia region, Recovery Centers said it has locations in Paoli, Blackwood, and Mays Landing.