Recovery Centers of America raises another $100M

Recovery Centers of America, a King of Prussia company developing a chain of addiction treatment centers, said Tuesday that it raised an additional $100 million from investment firm Deerfield Management Co.

Deerfield, of New York, had previously committed $231.5 million to Recovery Centers, which was founded by developer Brian O'Neill and has opened three facilities, in Maryland, Massachusetts, and Mays Landing, N.J.

Recovery Centers said it will use the additional money from Deerfield to open additional sites in Philadelphia, South Jersey, Boston, and generally in the Mid-Atlantic region.