Betty Ford Center Plans Business Merger With Hazelden Foundation
On behalf of The Law Office of Lynnette Ariathurai, A Professional Corporation posted in Mergers & Acquisitions on Tuesday, October 1, 2013.
Combating drug addiction and substance abuse is important for the advancement of American society. However, the logistics in providing this type of treatment can be challenging at times. This is why the renown Betty Ford Center is looking to enter into a business merger designed to increase its ability to help those struggling with addiction in California as well as other states across the country.
The treatment center is planning on combining forces with another larger treatment center, the Hazelden Foundation, which has become respected within the industry as a result of its expansion into multiple states. The newly merged entity will be known as the Hazelden Betty Ford Foundation which was unveiled in late September. The new foundation is planning on immediately focusing on specific regions in California.
However, the newly merged entity will first have to be reviewed by the proper regulatory agencies in order to begin operating. This process is expected to be completed by the end of the year. The new foundation will be operating nationwide with 14 sites to start with. Its annual operating budget will be $180 million.
Companies looking to form a similar business merger will also have to go through the proper regulatory process in order to begin operating as a newly merged business entity in California or in any other state. This will require completing the required legal documents and then submitting them to the correct regulatory agencies. Having an understanding of applicable laws will also enable companies to make the most effective decisions during the process.
Source: USA Today, Betty Ford Center's mission to grow with merger, Erica Felci, Sept. 29, 2013