Spero Health, a Brentwood, Tennessee-based outpatient addiction treatment provider, has made its first acquisition with the purchase of My Turning Point, a fellow outpatient addiction provider. This strategic move adds four new outpatient addiction treatment program locations in Kentucky, marking a significant step in Spero Health’s outpatient addiction treatment expansion. Financial terms of the deal were not disclosed.
Growth and Expansion of Spero Health
Founded in 2018, Spero Health has grown rapidly into a leading provider of outpatient addiction services. Today, the company operates more than 85 locations across Kentucky, Ohio, Tennessee, Indiana, West Virginia, and Virginia. Originally focused on opioid use disorder treatment, Spero Health now also addresses alcohol use disorder and is planning to integrate partial hospitalization and detox programs into its service offerings, furthering its outpatient addiction treatment expansion strategy.
Commitment to Accessible Care
“Our goal has always been to provide access to the highest quality addiction treatment close to home,” said Spero Health CEO Steve Priest. “The drug epidemic has taken an enormous toll on families and communities across the nation, and Kentucky has been hit particularly hard. This acquisition allows our organization to expand life-saving services so that even more people in more places can benefit from timely, professional care.” This approach exemplifies Spero Health’s ongoing outpatient addiction treatment expansion efforts in high-need areas.
New Locations in Kentucky
With the addition of My Turning Point’s four Kentucky locations, Spero Health is well-positioned to meet the increasing demand for outpatient services. The acquisition enhances the provider’s ability to deliver comprehensive care while ensuring patients have immediate access to treatment close to home. The move also reflects Spero Health’s commitment to outpatient addiction treatment expansion across multiple states, reinforcing its role as a leader in accessible, evidence-based care.
Insurance Coverage and Accessibility
Spero Health accepts state Medicaid and most commercial insurance plans, removing financial barriers and supporting broader access as part of its outpatient addiction treatment expansion plan. By leveraging its network of locations, the company can provide consistent, high-quality care for patients facing addiction challenges.
Mergers and Acquisitions in the SUD Space
The acquisition also comes amid broader consolidation in the substance use disorder (SUD) sector. BrightView Health, for example, recently acquired Column Health, which serves 2,200 patients across 11 locations. Yet not every provider is pursuing acquisitions, with companies like Landmark Recovery focusing on organic growth instead. Despite a slowdown in M&A activity in 2022, Spero Health’s outpatient addiction treatment expansion demonstrates a proactive strategy to address the growing need for care.
Industry Trends
According to consulting firm Mertz Taggart, deals in the SUD sector dropped from 15 in Q1 to eight in Q2, and overall behavioral health deals are projected to reach 106 in 2022, down from 137 in 2021. Larry Kocot, principal at KPMG, noted that the deal flow remains healthy despite broader economic challenges, highlighting the strategic importance of acquisitions like Spero Health’s outpatient addiction treatment expansion.
Strategic Backing and Future Plans
Backed by Heritage Group, Health Velocity Capital, South Central Inc., and Frist Cressey Ventures, Spero Health is using the My Turning Point acquisition as a cornerstone for its continued outpatient addiction treatment expansion. By expanding into new regions, broadening service offerings, and maintaining a focus on patient outcomes, Spero Health is setting a standard for accessible, high-quality outpatient addiction care.
As the company moves forward, Spero Health plans to continue growing its services in other states and incorporating additional programs, ensuring that more patients and communities benefit from the company’s comprehensive approach. The My Turning Point acquisition is a clear reflection of Spero Health’s mission: to provide life-saving, accessible care and lead the way in outpatient addiction treatment expansion across the region.
