Family Centered Services of Alaska to Purchase Boys and Girls Home of Alaska
Children Treated In-State; Jobs Contribute to Economy
Fairbanks, AK– The Boys and Girls Home of Alaska (BGHA), a residential treatment facility for children ages 12-18 in need of diagnostic and psychiatric treatment accepted an offer for the purchase of its facility from Family Centered Services of Alaska (FCSA). FCSA is a non-profit which provides mental health and substance abuse treatment, along with education services to children, young adults and their families. Based in Fairbanks, they have about 150 staff members and an operating budget of $12 million.
“FCSA has brought together a strong team of partners with the professional expertise to continue serving the children of the Interior and Alaska,” said John W. Regitano, Executive Director of FCSA. “With a 25 year history of providing special education and mental health treatment services to children and their families, FCSA will bring their level of professionalism and experience to all children served by the Boys and Girls Home. It is imperative that this facility be a financially stable and viable establishment and have the support of the State of Alaska to prevent children from being sent outside for these services as they were in recent history.”
The purchase has the backing of Fairbanks Memorial Hospital (FMH) which noted in a letter of support that Family Centered Services of Alaska is “perhaps the best operator for stabilizing and strengthening current services and, specifically, the best operator to promote responsible access to care, stem an already high recidivism rate, and promote a renewed sense of fiduciary stewardship relative to already-invested capital assets.” In addition, a second major player in the market, who wishes to remain anonymous, is extremely supportive of the FCSA bid, and joins FMH as both declare their mutual intent to collaborate with FCSA in its efforts to provide services to a vulnerable population of Alaska youths through the acquisition of the Boys and Girls Home. The parties anticipate the purchase will be complete and FCSA will assume operations later this year, after a due diligence period and necessary approvals by the Alaska Department of Health and Social Services.
The Boys and Girls Home of Alaska announced earlier this year that it had entered into an agreement with RBC Capital Markets to assist with transferring the ownership. BGHA’s President and CEO Art Silva and his team have done everything possible to ensure that there was no disruption to patient services during this transition.
BGHA offers a variety of programs for youth with emotional, psychiatric and behavioral challenges and has been in operation since 2008. Historically, the home has served over 60 children and supported 160 jobs. Most important, it has offered essential professional care to children of the Fairbanks North Star Borough, Interior and Alaska while contributing to the State’s goal of discontinuing the former practice of sending our children outside for needed services.
The letter of support from Fairbanks Memorial Hospital CEO Mike Powers goes on to say “your efforts will address the threatened economic and workforce impact of a Boys and Girls Home shutdown…I commend your commitment to serve both those in need of behavioral health services, as well as the greater Fairbanks community as a whole.”
Posted: June 26, 2014