Wake Forest University Baptist Behavioral Health Signs Letter of Intent
WINSTON-SALEM, N.C. – Wake Forest University Baptist Behavioral Health (WFUBBH) has signed a letter of intent for WFUBBH to be acquired by Keystone Education and Youth Services, LLC, a Nashville, Tenn., company that specializes in treating troubled children and adolescents. The letter of intent contemplates an asset purchase of WFUBBH by Keystone, with an anticipated closing date by mid-December, 2004.
Most of the programs now operating on the campus at 3637 Old Vineyard Road will be continued uninterrupted by the new owner.
WFUBBH had been a jointly owned subsidiary of Wake Forest University Health Sciences and North Carolina Baptist Hospital. The boards of both organizations voted to approve the sale.
Keystone Education and Youth Services (http://www.keystoneyouth.com/home.html) provides education, treatment and juvenile justice services for troubled children through 24 nonresidential (day treatment and other programs) and 23 residential (detention and inpatient) facilities in 10 states, including Keys of the Carolinas in Charlotte. Keystone serves about 3,000 young people each day who have mental, emotional or behavioral problems or developmental or learning disabilities.
The Keystone missions cover the existing programs at WFUBBH:
- "Second Beginnings," a 45-bed residential treatment program for sexually aggressive boys between 11 and 17. Three units separately serve children, adolescents, and adolescents who also have significant cognitive, developmental or social deficits in addition to being sexually aggressive. (The Keys in Charlotte operates a similar program for youths 12-17.)
- "Journeys," a partial hospitalization and intensive outpatient service program for children 6-17 who have emotional or behavioral problems that inhibit their ability to carry out normal activities.
Keystone’s behavioral day treatment programs are provided to children and adolescents who are in need of behavioral and psychiatric interventions designed to arrest psychiatric disturbances and substance-abuse-related problems.
WFUBBH acquired the former Charter Hospital campus on September 28, 2000. It is a 15-acre campus with four buildings.
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