Rising Biosciences on Tuesday announced that it has acquired substance abuse treatment company Southern Northern Behavioral Health (SNB Health) as a wholly owned subsidiary. As part of the deal, Rising Biosciences is purchasing a 40,000-square-foot former recreation facility that will be renovated to serve as a behavioral health center for the treatment of opioid addiction, alcohol abuse and related mental health issues.
The Sandusky, Ohio, facility will offer inpatient and outpatient services, facilitating clients across the region from Toledo to Cleveland to Pittsburgh.
“I am particularly gratified to share that, because this location was formerly a recreational facility, we can address the adjunct, less tangible side of addiction treatment by offering our clients a full slate of wholesome recreational outlets” that include swimming, yoga, basketball, racquetball and various outdoor sports, RBS CEO Arthur Hall said in a news release announcing the deal.
Rising Biosciences said it projects the center will bring in $10 million in inpatient revenue, with an additional $5 million in revenue being driven to various outpatient locations