Lowenstein client Veronis Suhler Stevenson (VSS), a private investment firm, has announced, with NewSpring Health Capital, the completion of an investment in the BRC Recovery Family of Programs (BRC), a nationally recognized provider of addiction treatment services, and the formation of BRC Healthcare. The new entity serves as the holding company for the BRC Recovery Family of Programs and future acquisitions.

VSS is a private investment firm that invests in the health care, information, business services, and education industries. It provides capital for growth financing, recapitalizations, strategic acquisitions, and buyouts to lower middle-market companies and management teams with the goal of building companies organically as well as through a focused add-on acquisition program. 

Headquartered in Austin, Texas, BRC provides individualized, gender-specific treatments to adults (aged 17+) with substance use disorders such as alcoholism, drug dependence, and other addiction disorders. The transaction will provide BRC the resources it needs to advance its high-quality continuum of care and pursue potential acquisitions of complementary programs in communities where demand for established behavioral health programs continues to grow.

The Lowenstein deal team included Steven E. Siesser, Eileen Overbaugh, Traci M. Tomaselli, Brooke A. Gillar, and Lesley P. Adamo.