Behavioral Health Business October 22, 2024
Adam Nesenoff is convinced that luxury rehabilitation centers, the amenity-filled facilities to treat addiction, are a terrific investment. The problem is convincing others.
“Banks are struggling to find what we rely upon,” said Nesenoff, who, with his brother, David Nesenoff, founded Behavioral Health Acquisitions in 2023 as a vehicle to put money into luxury rehab centers.
As the luxury rehab industry dealt with scandal and industry changes in how to treat people with substance use disorders; loans, equity investments and takeovers have cooled to near freezing levels.
“I haven’t seen a hint of investor interest,” Rebecca Springer, lead health care analyst at Pitchbook, told Addiction Treatment Business.
This was not always the case. Patients can pay up to $112,000 a...
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