Charter Behavioral Health Systems
| Company type | Privately held company |
|---|---|
| Industry | Healthcare |
| Predecessor | Charter Medical Corporation |
| Founded | 1979 in Macon, Georgia |
| Defunct | 2000 |
| Fate | Bankruptcy |
| Headquarters | , |
Area served | United States |
| Products | Psychiatric hospitals and treatment centres |
| Owner | Crescent Operating |
Charter Behavioral Health Systems was an American private company that operated psychiatric treatment centers and hospitals. At one point it was the largest operator of such facilities in the US,[1] but in 2000 it declared bankruptcy and sold many of its facilities to other operators.[2]
While it operated it was based in Alpharetta, Georgia, and had locations in 21 U.S. states.[2]
History
[edit]The company was founded in 1979, having evolved from Charter Medical Corporation which was established in 1969. The company grew significantly during the 1980s. In 1992, Charter Medical filed for Chapter 11 bankruptcy due to debt from a 1988 management-led buyout.
After emerging from bankruptcy, the company restructured and rebranded as Magellan Health Services in the mid-1990s. Charter Behavioral Health Systems became a subsidiary during this period, operating numerous psychiatric treatment centers across the United States.[3]
Its television commercials were known for ending with the line, "If you don't get help at Charter, please, get help somewhere."[4]
The company filed for bankruptcy in 2000, at that time it was 90 percent owned by Crescent Operating, Inc.[1][2]
Legacy
[edit]Many of its former facilities, such as Provo Canyon School and Suncoast Behavioral Health Center, continue to operate under new ownership.
References
[edit]- ^ a b Meier, Barry (February 17, 2000). "A Chapter 11 Filing by Charter Behavioral". The New York Times. Retrieved December 28, 2024.
- ^ a b c "Charter Behavioral Health to sell 11 hospitals". Atlanta Business Chronicle. May 30, 2000. Retrieved December 28, 2024.
- ^ "Charter Medical Corp. files bankruptcy plan". Ocala Star-Banner. June 4, 1992. Retrieved May 24, 2015.
- ^ "CHARTER SHOULD TAKE RESPONSIBILITY FOR SOVERN'S DEATH". Greensboro News & Record. July 25, 1998. Retrieved March 24, 2024.
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- 2000 disestablishments in Georgia (U.S. state)
- Defunct health care companies of the United States
- Health care companies based in Georgia (U.S. state)
- Psychiatric hospitals in the United States
- American companies disestablished in 2000
- Companies that filed for Chapter 11 bankruptcy in 2000
- Alpharetta, Georgia
- United States company stubs