Press release
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SAN FRANCISCO & POMPANO BEACH, Fla.-- June 2, 2023 -- The Rise Fund, TPG’s multi-sector global impact investing strategy, today announced a significant investment in Banyan Treatment Centers, LLC (“Banyan Treatment Centers” or “Banyan”), a leading provider of substance use disorder (“SUD”) and mental health services across the United States. Terms of the investment were not disclosed.

Founded in 2013, Banyan has set an exceptional standard within the SUD industry, providing a full continuum-of-care for patients suffering from addiction across 16 facilities in eight states. Banyan provides superior clinical outcomes across medically monitored detox, residential, partial hospitalization, intensive outpatient, and telemedicine services.

“At Banyan, we treat addiction as a chronic disease that needs to be actively managed so that our patients can take back control of their lives,” said Joe Tuttle, President & CEO of Banyan Treatment Centers. “Our team delivers evidence-based treatment models with deep empathy for our patients. The Rise Funds’ focus on improving access to care for fragile populations, combined with their healthcare expertise, made them the mission-aligned partner of choice for Banyan.”

A majority of SUDs today relate to alcohol and opioid addiction, which often lead to severe morbidity or death. These diseases disproportionately affect low-income and minority populations and have long lasting socio-economic impacts on families, communities, and health systems. Further, this vulnerable population faces hurdles to receiving treatment because of lack of coverage, affordability, and social stigma. The investment from The Rise Fund is focused on increasing access for high quality, evidenced-based SUD treatment by supporting the expansion of Banyan’s footprint, capacity, and treatment offering.

Tom Verghese, Business Unit Partner for The Rise Funds, said, “We are proud to be investing behind Banyan’s effort to prioritize and improve SUD care across the US. An estimated 40 million Americans suffer from SUD and only 7% of them receive treatment due to various obstacles within the healthcare system. With Banyan, we have a tremendous opportunity to increase access for a fragile and often ignored patient population.”

The Rise Fund’s investment in Banyan Treatment Centers furthers its thematic focus on widening healthcare access for underserved populations around the world and follows earlier investments in Blue Cloud Pediatric Surgery Centers, the largest operator of pediatric dental ambulatory surgery centers in the US; The Evercare Group, an integrated healthcare delivery platform in emerging markets across Africa and South Asia; International Medical University, the largest medical and healthcare-focused higher education institute in Malaysia, and the Center for Health Education and Access, a public benefit corporation expanding access to osteopathic medical education for aspiring physicians who seek to deliver care in underserved rural communities.

Moelis & Company served as exclusive financial advisor to Banyan Treatment Centers in relation to the transaction.

About Banyan Treatment Centers

Banyan Treatment Centers is one of the fastest growing drug, alcohol, and mental health addiction treatment centers. With sixteen locations across the US and growing, Banyan Treatment Center stands as a leader in providing growth through recovery by offering clients all levels of care including detox, residential, partial hospitalization programming, stabilization, intensive outpatient services, mental health services and more. Banyan’s treatment team is comprised of master’s level, state licensed, and PhD. level clinicians who take pride in bringing clients the highest standards of individualized, custom treatment plans. To learn more about Banyan Treatment Centers, please visit the organization's media section or addiction blog. If you or someone you know is struggling with addiction or mental health issues, please call Banyan today at (888) 230- 3122.

About The Rise Funds

The Rise Funds are a core pillar of TPG Rise, TPG's global impact investing platform. Founded in 2016 by TPG in partnership with Bono and Jeff Skoll, The Rise Funds invest behind impact entrepreneurs and growth-stage, high potential, mission-driven companies that are focused on achieving the United Nations' Sustainable Development Goals. The Rise Funds deliver capabilities and expertise across a wide variety of sectors and countries at scale, focusing on opportunities in climate and conservation, education, food and agriculture, financial inclusion, healthcare, and impact services.

With approximately $17 billion in assets across The Rise Funds, TPG Rise Climate, and the Evercare Health Fund, the TPG Rise platform is one of the world's largest private markets impact investing platforms committed to achieving measurable, positive social and environmental outcomes alongside competitive financial returns.

For more information, visit or @therisefund on Instagram.

Media Contacts:

Ari Cohen
+1 415-743-1550

Banyan Treatment Centers