Scottsdale Recovery Center looks to expand

Business News | 29 Mar, 2018 |

Scottsdale Recovery Center (SRC) has partnered with FundMyBusinessAZ in order to expand its much-needed presence in the Valley.

SRC currently has four high-end treatment centers which help people who struggle with drug addiction, alcoholism and dual-diagnosis/co-occurring disorders. The treatment centers are designed to treat young adults 18-35 as well as those in the 35+ age group. 

“We’re saddened by the increased rate of drug dependency in this country and our community,” said Chris Cohn, founder and owner of Scottsdale Recovery Center. “The opioid epidemic isn’t going away anytime soon, and SRC facilities could be the answer for many people on the road to recovery who are out of options. This crowdfunding option will give the community an opportunity to invest in helping family members or loved ones struggling with addiction.”

Scottsdale Recovery Center, LLC, was opened in Aug. 2011 to provide drug rehabilitation and alcohol addiction treatment as well as medical detoxification and recovery support services. The company is committed to providing compassionate and effective services by raising funds to develop its business in a critical and growing market. Drug and alcohol addiction treatment is rising at an unprecedented rate in the United States.  Addiction treatment was a $21 billion business in 2003, and is expected to double to $42 billion by 2020. 

The portal provides Arizona entrepreneurs and small business owners the opportunity to raise up to $1 million without a financial audit or up to $2.5 million with a completed financial audit from the prior fiscal year.  Arizona’s crowdfunding law allows any resident the opportunity to invest up to $10,000 in a 12-month period.  Residents who meet the accredited investor requirements are not subject to the $10,000 limit.

“Our vision for this portal is to grow Arizona organically, connect local entrepreneurs with local investors and create jobs while keeping investments within our communities” said Nick Andrews, CEO of FundMyBusinessAZ.

With this crowdfunding partnership, SRC will expand the scope and availability of the services in the drug and alcohol rehabilitation market. Some of the goals of this crowdfund include: design and develop of a detoxification facility, purchase an existing detox facility, acquire a brand new residential treatment facility, expand current services for another residential treatment center, and hire more employees.

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