Owakihi, Inc. Acquired by Beacon Specialized Living Services, Inc.
Beacon Specialized Living Services, Inc. (“Beacon”), a portfolio company of Pharos Capital Group, announced today it has acquired Owakihi, Inc., (“Owakihi” or “the Company”). Founded in 1978, Owakihi is a leading Minnesota provider of home and community-based support services to individuals with intellectual and developmental disabilities (I/DD) and mental health needs, focusing on personalized care. Beacon is Michigan’s largest for-profit provider of residential healthcare services to individuals with I/DD, mental health and substance abuse disorders. Terms of the transaction were not disclosed.
Beacon Chief Executive Officer Darren Hodgdon noted, “Beacon is developing multiple lines of mental health services for individuals with extreme behaviors and complex needs. Owakihi serves like-individuals with different delivery models that will further broaden our current capabilities. Their highly-trained and qualified staff, and emphasis on “Person-Centered Planning,” optimizes successful outcomes and will help fuel our platform’s growth as we continue to fill critical gaps in the healthcare system that drive excessive utilization.”
Headquartered in Saint Paul, MN, Owakihi serves over 200 individuals across 14 sites in the seven counties surrounding Minneapolis and Saint Paul. Owakihi’s residential options encompass group homes, intermediate care facilities, crisis care homes, and individual housing within apartment complexes. The Company’s services are long-term in nature and include mentorship, training, socialization, medication management, and other relevant treatment.
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