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Sound Completes Acquisition of Community Psychiatric Clinic
SEATTLE, Sept. 11, 2019 /PRNewswire/ -- Sound, a provider of mental health and addiction treatment services, announced today the completion of an "Asset Acquisition (acquisition)" of Community Psychiatric Clinic. The acquisition significantly expands Sound's impact, both in terms of services provided and the number of clients served. The new organization will have an annual revenue of more than $85 million.
Patrick Evans, Sound's President & CEO, will remain at the helm of the new, larger organization. Doug Crandall, CEO of Community Psychiatric Clinic, will join Sound's Executive Leadership Team as its Chief Quality & Compliance Officer.
Both organizations, which align in terms of mission, values and populations served, announced the intent to combine operations in April 2019, with the expectation to complete the integration after a four-month due diligence process.
The acquisition is part of Sound's longer term growth strategy, resulting an expanded healthcare organization that will have 17 locations and serve more than 26,000 people in the region with mental health, addiction treatment, supportive housing, vocational and a spectrum of other healthcare services. These programs will serve a wide range of people, from Medicaid-eligible clients to individuals who have private insurance, and bring expanded service options to more people.
In the rapidly changing healthcare landscape, Managed Care Organizations seek healthcare partnerships with providers that improve outcomes for the largest number of people. Sound's growth enables greater operational and clinical efficiencies.
"Sound will be in a strong strategic position with this acquisition," said Evans.
"We will be serving more people, with expanded services at greater operational and clinical efficiencies than ever before. We are excited at this first phase of our growth plans and look forward to continuing to serving more clients with a broader continuum of healthcare services in the future."
The organization is the only provider in King County to adopt Reaching Recovery, an innovative and evidence-based model of care that improves client outcomes and ensures the appropriate level of care is delivered based on the client's need. As Sound incorporates primary care into the Reaching Recovery model in 2019, the organization will deliver more comprehensive services, for more people, across a wider region.
About Community Psychiatric Clinic
Community Psychiatric Clinic (CPC) is a dually-licensed, state-certified and nationally accredited non-profit behavioral healthcare organization that provides a comprehensive array of recovery-oriented mental health and addiction treatment services throughout Seattle and King County. Each year, CPC helps thousands of individuals and their families.
Founded in 1966, Sound is an independent provider of community mental health and addiction treatment services, offering high quality, comprehensive healthcare services throughout the region. The organization is an early adopter of Reaching Recovery, an evidence-based clinical model that promotes high levels of client engagement, improves outcomes and enables providers to better measure a client's recovery. Sound stands at the forefront of the healthcare field, exploring new approaches to care. The organization's goal is to help individuals and families achieve the highest level of independence possible by providing whole healthcare solutions including addiction treatment, mental health, vocational, supportive housing and many other services. To learn more, visit www.sound.health.
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