Landmark Recovery, a recently launched addiction treatment operation backed by Arizona-based senior living interests, is opening a separately branded Medicaid focused treatment business, called Praxis. Landmark’s move is part of a recent trend of private treatment providers, virtually none of which used to accept Medicaid, increasingly going in-network, with a growing number beginning to focus on Medicaid reimbursement.
Landmark opened its first Praxis facility in May in Louisville. Landmark has three other facilities, all oriented toward commercial payor reimbursement, another in Louisville, one in Lexington and another slated to open Aug 1 in Carmel, IN.
Cliff and Matt Boyle founded Landmark in 2016. The Boyle family is well established in senior living, their seniors home business also having the name Landmark.
Praxis Louisville has a residential capacity of 36 beds and will offer a continuum of care, Landmark says.
The Boyles are not by any means the only senior living/nursing home players to eye or enter the addiction treatment business in recent years. Probably the most prominent example of this trend is Ben Klein, founder of Chicago nursing home operator Platinum Healthcare. About seven years ago, Klein began a pivot out of nursing homes into treatment, opening a Florida addiction center and acquiring others, forming Sunspire Health Care, which he later sold to private equity firm Kohlberg.
Klein has since emerged as among the most powerful addiction treatment industry players after he, along with partners, bought $135M face value of the senior debt of bankrupt treatment giant Elements Behavioral Healthcare for just $40M. Klein and partners have since gained control of Elements post bankruptcy, rebranding a considerably slimmed down Elements as Promises Treatment Centers.
Another new private Medicaid addiction treatment provider is Maryland-based Amatus Health, which opened a 51-bed center in Maryland a few months ago after opening two similar centers in Ohio last year.