Matrix Capital Markets Group, an independent investment bank, advised BeWell Network on its sale to H.E.R. Management.
BeWell is a residential and outpatient behavioral health provider focused on the treatment of substance use disorder. The company operates in two markets, San Juan Capistrano and Dana Point in Orange County, CA and Santa Barbara, CA.
BeWell’s service offerings include detoxification, residential care, a partial hospitalization program (PHP), and an intensive outpatient program (IOP) for substance use disorder treatment in both Orange County and Santa Barbara, as well as PHP and IOP for primary mental health care treatment in Santa Barbara. To support patients enrolled in BeWell’s outpatient programs, the company also operates sober living homes in each of its two markets. The company is contracted with many of the payors that have a significant presence in Southern California.
Matrix provided M&A advisory services to BeWell, including marketing the transaction, advising on valuation, deal structure and other transaction terms, and ultimately achieving a successful execution. The transaction was managed by Vasanta Pundarika, head of Matrix’s healthcare investment banking group, Casey Van de Walle, director and Barrett Smith, analyst.
“We are happy to have worked with the owners of BeWell Network as their financial advisors on this transaction,” Pundarika said. “Under new ownership, we look forward to seeing BeWell implement an enhanced growth strategy, while continuing to provide high quality care to its patients.”
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