Case 19-12493-mdc Doc 216-2 Filed 01/31/23 Entered 01/31/23 15:39:18 Desc

Exhibit B Page 1 of 3

EXHIBIT B
1/17/23, 5:17 Case
PM 19-12493-mdcFulcrum
Doc 216-2
Equity, Filed 01/31/23
Vocap Investment Entered
Acquire Majority 01/31/23
Interest in Liberation 15:39:18
Behavioral Desc
Health - WSJ
Exhibit B Page 2 of 3
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https://www.wsj.com/articles/fulcrum-equity-vocap-investment-acquire-majority-interest-in-liberation-behavioral-health-1526408821

PRO PE DEALS

Fulcrum Equity, Vocap Investment Acquire

Majority Interest in Liberation Behavioral
Health
May 15, 2018 2:27 pm ET
Fulcrum Equity Partners has acquired a majority interest in Liberation Behavioral Health
LLC, a drug and alcohol addiction treatment facility also known as Liberation Way,

Atlanta-based Fulcrum Equity in a press release said Vocap Investment Partners participated
in the transaction, terms of which weren't disclosed. The firm also said it hired Andrew
“Drew” Rothermel as the chief executive of Liberation Behavioral. Mr. Rothermel most
recently served as president and CEO of Origins Behavioral HealthCare LLC.

Based in Yardley, Pa., Liberation Way offers services for drug and alcohol treatment, including
partial hospitalization, an intensive outpatient program, general outpatient and detox
services, interventions, aftercare planning and services, family support services, an
alternative-to-incarceration program and a medication-assisted maintenance treatment
program, according to the company’s website

Fulcrum and Vocap will leverage their operational health-care experience to assist Liberation
Behavioral in “expeditiously addressing and overcoming any deficiencies,” according to the
statement. After the Pennsylvania Department of Drug and Alcohol Programs issued
numerous violations to Liberation Way earlier this year, Liberation Behavioral submitted a
“comprehensive plan of correction” that was accepted by the state of Pennsylvania, the
release said.

Fulcrum invests in health-care services, health-care IT, software and service-as-a-software,

and technology-enabled services companies with $3 million to $50 million in revenue and that
are looking to raise $5 million to $20 million. The firm also will consider $3 million to $4
million initial investments in companies that expect to raise additional capital over time.

Vocap Investment, also based in Atlanta, provides growth capital to technology companies
with $1 million to $20 million in revenue.
https://www.wsj.com/articles/fulcrum-equity-vocap-investment-acquire-majority-interest-in-liberation-behavioral-health-1526408821 1/2
1/17/23, 5:17 Case
PM 19-12493-mdcFulcrum
Doc 216-2
Equity, Filed 01/31/23
Vocap Investment Entered
Acquire Majority 01/31/23
Interest in Liberation 15:39:18
Behavioral Desc
Health - WSJ
Exhibit B Page 3 of 3

https://www.wsj.com/articles/fulcrum-equity-vocap-investment-acquire-majority-interest-in-liberation-behavioral-health-1526408821 2/2