Patient Square Capital signed a definitive agreement to acquire Summit BHC from FFL Partners and Lee Equity Partners. Financial terms of the private transaction were not disclosed.
Summit BHC was founded in 2013 to provide treatment for addiction and psychiatric disorders. The organization has 24 freestanding facilities located in 16 states. Its service line includes acute inpatient care, detoxification programs and residential and outpatient services. From its founding, Summit was designed to utilize an in-network commercial strategy to provide consumers with greater access to exceptional and affordable care.
Patient Square Capital is a dedicated health care investment firm purpose-built to partner with best-in-class management teams whose products, services and technologies improve health. Its team brings extensive experience, having served on the Boards of Directors of leading multi-site health care providers, such as HCA, Brightspring Health Services, Unified Women’s Healthcare, Envision Healthcare, Heartland Dental, OB Hospitalist Group, Blue Sprig Pediatrics, Covenant Physician Partners, and DuPage Medical Group.
FFL and Lee Equity partnered to acquire Summit in October 2017. Since the acquisition, Summit has completed seven acquisitions across substance use disorder and entered acute psychiatric care. The company has expanded eight of its facilities and opened an additional five centers.
This was reported by Patient Square Capital on September 9, 2021.
Contact information: Summit Behavioral Healthcare, LLC, 389 Nichol Mill Lane, Suite 100 & 160, Franklin, TN 37067; 877-463-3553; Website: www.summitbhc.com