King of Prussia’s Recovery Centers of America Receives $100M in Additional Funding

recovery centers of america
(Image via Recovery Centers of America)

King of Prussia’s Recovery Centers of America has secured an additional $100 million in funding from its lead investor Deerfield Management, writes John George for Philadelphia Business Journal.

This brings the addiction treatment center operator’s total available capital to $331.5 million, after the company received $231.5 million last year also from Deerfield.

RCA, founded and led by Montgomery County real estate developer Brian O’Neill, has opened three addiction treatment facilities this year. These include Mays Landing in New Jersey, Westminster in Massachusetts and Bracebridge Hall in Maryland.

“The additional funding will help RCA fight the national addiction epidemic affecting more than 23 million Americans by building a country-wide network of neighborhood-based treatment facilities,” said Deni Carise, RCA’s chief clinical officer

The company has plans to open five more centers including one in Paoli, by the end of next year.

According to Leslie Henshaw, a partner at Deerfield, RCA is “well on the road to uprooting conventional recovery treatments with bold new approaches designed to save lives and stem the epidemic of addiction afflicting our country.”

Read more about the company’s plans at Philadelphia Business Journal by clicking here.