Residential Healthcare Services Provider Beacon Specialized Living Services Receives PE Investment
Summary
Beacon Specialized Living Services, Inc., and its affiliates, providers of residential healthcare services in Michigan, received a private equity investment from Pharos Capital Group, LLC.As part of the transaction, industry veteran Darren Hodgdon is joining Beacon as CEO and Mr. Ratzlaff will take on the roles of Director and President, along with Pharos’ Partner Jim Phillips, Principal Anna Kovalkova, and Vice President Ryan Shelton.Previously, he was Chief Operating Officer of UnitedHealthcare Tennessee, and earlier in his career, he was a senior executive at Healthways, an independent global provider of well-being improvement solutions.Founded in 1998 by Ken Ratzlaff and his family, Beacon Specialized Living Services offers behavioral healthcare through specialized residential adult foster care (AFC) facilities and community living service apartments in 30 locations across western and northern Michigan.The company serves developmentally disabled, mentally ill, and autistic adults, as well as those challenged with substance abuse, addiction, dementia, and Alzheimer’s, in a behavioral healthcare setting.