Press Release


CONTACT: Stephanie Zschunke
PHONE: 609-292-8585
Date: March 21, 2005


Premier Addicted Disorders Rehabilitation Center Coming to Marlboro


(Trenton) On March 18, 2005, the New Jersey Health Care Facilities Financing Authority closed a $13,835,000 transaction on behalf of Recovery Management Systems, Inc. ("Recovery") to construct a new rehabilitation facility to aid in the recovery of New Jersey's addicted population.


Recovery was formed when two compatible non-profit organizations that focus on various addictions and treatment levels realized they could provide a full continuum of care by uniting under one structure and sharing common areas. Discovery Institute for Addictive Disorders joined forces with The New Hope Foundation to create Recovery, which will own and operate the new facility, providing services ranging from initial detoxification to long-term care and family counseling. According to Bob Denes, President of Recovery and CEO of Discovery, less than 1% of the State's established need for chemical dependency treatment is actually met by existing delivery systems. Therefore, the facility expects a high rate of utilization and is greatly needed by the State of New Jersey.


The proceeds of the bonds will be used to construct and equip a 260-bed facility to house two separate residential treatment programs including common recreational, medical, reception and commissary areas. Prior to the bond issue, Recovery purchased 10-acres from the State (some of which was formerly part of the Marlboro Psychiatric Hospital campus) on which to construct the new facility.


The New Jersey Health Care Facilities Financing Authority is the primary issuer of municipal bonds for New Jersey's health care organizations. Created in 1972 by an act of the Legislature to provide not-for-profit health care providers with access to low-cost capital, the Authority's statutory powers were expanded in 1998 to include financing for all health care organizations or components thereof. During its 30+-year history, the Authority has issued over $11 billion in bonds on behalf of over 140 health care organizations throughout the state.