Patient Square Capital Closes Acquisition of Summit BHC
FRANKLIN, TN, November 24, 2021 – Patient Square Capital, a dedicated health care investment firm, today announced the closing of its previously announced acquisition of Summit BHC (“Summit” or “the Company”), a leading provider of behavioral health and addiction treatment services. Financial terms of the private transaction were not disclosed.
Founded in 2013 and headquartered in Franklin, Tennessee, Summit provides substance use disorder and acute psychiatric care at 24 facilities across 16 states. Across its network of facilities, the Company covers a comprehensive continuum of care including 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 patients with greater access to exceptional and affordable care.
Patient Square Capital was advised by Kirkland & Ellis, Latham & Watkins and McDermott Will & Emery.
About Summit BHC
Headquartered in Franklin, Tennessee and founded in 2013, Summit was established to develop and operate a leading network of behavioral health hospitals and addiction treatment centers throughout the country. The company’s primary focus is on psychiatric services and substance use disorder treatment within a flexible and dynamic continuum of care. The leadership team at Summit is comprised of senior executives with decades of combined experience in the behavioral healthcare industry at the national level. The company currently owns and operates 24 freestanding facilities nationwide. For additional information please visit www.summitbhc.com.
About Patient Square Capital
Patient Square Capital is a dedicated health care investment firm that partners with best-in-class management teams whose products, services and technologies improve health. We utilize our deep industry expertise, our broad network of relationships and a true partnership approach to make investments in companies that will grow and thrive. We believe in the power these companies have to improve patient lives, strengthen communities and create a healthier world. Patient Square is purpose built by a team of industry-leading executives, differentiated by the depth of our focus in health care, the breadth of our health care investing experience, and the network we can activate to drive differentiated outcomes. Most importantly, patients are squarely at the center of all that we do. For more information, visit www.patientsquarecapital.com.
Doug Allen/Zach Kouwe
Dukas Linden Public Relations