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.
The terms of the deal were not disclosed.
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.
Mr. Hodgdon is a healthcare executive who recently led strategy and clinical innovation at UnitedHealthcare Community & State, a large Medicaid insurer, with over five million members in 26 states. 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.