Texas-based company purchases Oak Ridge Treatment Center
Published 12:00 am Wednesday, June 25, 2003
PEDRO - The CEO of Oak Ridge Treatment Center is calling the new acquisition of the center "wonderful."
"We are very excited," Dr. Michael Dowdy said. "This is a wonderful match, and we hope to provide the utmost quality care for kids. We are really pumped up."
Oak Ridge Treatment Centers Inc. is a residential treatment center for children and adolescents located on 40 acres adjacent to Wayne National Forest in Pedro.
Youth and Family Centered Services (YFCS), a Texas-based company specializing in comprehensive behavioral and educational services for abused and neglected children and adolescents recently announced the purchase of Oak Ridge along with three other residential treatment facilities and a group home in Indiana formerly operated by the Indianapolis-based Youth Options Inc.
According to a release sent to The Ironton Tribune by Oak Ridge, YFCS now operates programs in nine states and serves 2,000 children and adolescents daily. In addition to specialty programs for the developmentally disabled and deaf, YFCS also owns charter schools servicing children with special education needs in an alternate setting. The company generates approximately $140 million in net revenues and has 2,300 employees.
Kevin P. Sheehan, president and CEO of YFCS, confirmed that the purchase of Oak Ridge occurred May 30. He did not disclose the price.
During the next 12 to 18 months, Sheehan said his company would like to examine what this community needs for children and adolescents. Also, the facility was recently expanded from a 45-bed facility to a 60-bed facility.
"We are very fortunate to work with Michael (Dowdy), and the people at the facility are very attractive," Sheehan said. "We are fortunate to own it and expand it."
Sheehan also said that the company likes having a facility in Ohio now and hopes to provide quality, cost-effective care for children and adolescents.
"If there ever was an acquisition that was a marriage made in heaven, it was us and YFCS," Dowdy said.
Dowdy said the philosophies of Oak Ridge and YFCS are the same - putting children first and providing outstanding high-quality care for them.
No administration or management members have been changed, Dowdy said. Also, the opening of the new unit that expanded Oak Ridge to 60 beds has added 20 to 25 jobs to the community.