Buyer: Centerbridge Partners
Seller: New Harbor Capital, Community Psychiatry
Sector: Behavioral Health
New Harbor Capital is pleased to announce the sale of Community Psychiatry Management, LLC to Centerbridge Partners.
Headquartered in Sacramento, California, Community Psychiatry is a leading provider of outpatient behavioral health services. The company’s 100+ affiliated psychiatrists, psychiatric nurse practitioners, and therapists serve patients suffering from a range of behavioral health disorders across more than 40 clinics, and via telemedicine, throughout California. For additional information, please visit www.communitypsychiatry.com.
“New Harbor was the perfect partner to help us accelerate our growth and support the business for its continued success,” said Dr. Mark Levine, Founder of Community Psychiatry. “Thanks to their strategic guidance, the company is well-positioned as a leading provider of quality mental health care services throughout California and beyond.”
“Community Psychiatry is committed to providing clinically-effective mental health care by attracting the best clinicians and assuring a compassionate patient experience,” said Ken Kelly, Chief Executive Officer of Community Psychiatry. “With New Harbor as our partner, we were able to considerably expand access across California. In our next phase, we will build on that model to open access to mental health care for more people.”
“We are proud to have helped Community Psychiatry,” said Ed Lhee, Partner at New Harbor. “We deeply value the relationship we have built with the entire Community Psychiatry team. Our shared commitment to excellence, collaboration, and growth has resulted in a great organization led by great people committed to serving the needs of its patients.”
About Community Psychiatry
Community Psychiatry is a leading independent provider of outpatient behavioral health services. CP has spent more than a decade increasing access to mental health care by creating cooperative relationships with patients, physicians, hospitals and insurers. CP currently employs more than 120 psychiatrists, psychiatric nurse practitioners, psychologists and licensed therapists who provide care through telemedicine and in-person visits at over 40 locations in more than 18 languages. Community Psychiatry is dedicated to providing high-quality, in-network mental health services through its partnerships with commercial health insurance providers (20+). For more information, please visit www.communitypsychiatry.com.
The M&A activity across healthcare sectors continue to drive strong valuation and strategic options for business owners. Considering a sale, merger or recapitalization? If your business is ready, the market opportunities and strategic options in the current market are worthy of your consideration.
Contact Paragon Ventures for more information.