LONDON – 19 October 2016 – Funds advised by BC Partners (“BC Partners”), a leading European private equity firm, have entered into an agreement to acquire a portfolio of 22 mental health facilities from Acadia Healthcare. The transaction is subject to approval by the Competition and Markets Authority.
The hospitals are based across the UK and offer a wide variety of tailored programmes to suit patients’ specific behavioural care needs. The facilities were part of either Priory Group or Partnerships in Care and will be formed into a new company led by Joy Chamberlain, former Group Chief Executive of Partnerships in Care and an experienced figure in the UK’s independent healthcare sector.
Once formed, the new company will have more than 2,000 employees and offer approximately 1,000 beds across the 22 hospitals.
Matthew Tooth, a Senior Partner at BC Partners, commented: "We are very excited to have this chance to create a new business providing mental health services, starting with the planned acquisition of 22 high-quality facilities from Acadia. The management team that will run the newly created business, led by Joy Chamberlain, have an enviable track record in providing high-quality mental health services to the public sector, and we look forward to supporting them in building a market-leading business."
Joy Chamberlain, CEO designate of the new business, commented: "I am delighted to partner with BC Partners. They have an impressive track record in helping European healthcare services businesses to grow and develop to their full potential, and we are excited about taking the business to the next level with their support."
BC Partners was advised on the transaction by PJT Partners, KPMG and Candesic.
BC Partners is a leading international private equity firm with over €12 billion of assets under management. Established in 1986, BC Partners has played an active role in developing the European buy-out market for nearly three decades. BC Partners executives operate as an integrated team through the firm’s offices in Europe and North America, acquiring and developing businesses to create value in partnership with management. Since inception, BC Partners has completed 91 investments in companies with a total enterprise value of nearly €100 billion and is currently investing its ninth fund, which was raised in 2011 with total commitments of €6.7 billion.
Acadia Healthcare is a provider of inpatient behavioral healthcare services. Acadia operates a network of 591 behavioral healthcare facilities with approximately 17,800 beds in 39 states, the United Kingdom and Puerto Rico. Acadia provides behavioral health and addiction services to its patients in a variety of settings, including inpatient psychiatric hospitals, residential treatment centers, outpatient clinics and therapeutic school-based programs.
Andrew Honnor / Charlotte Balbirnie / Alex Jones
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