Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised CenterPointe Behavioral Health System, LLC (CenterPointe), a portfolio company of NaviMed Capital (NaviMed), Health Enterprise Partners (HEP) and Siguler Guff & Company, LP (Siguler Guff), on its sale to Acadia Healthcare Company (NASDAQ: ACHC; Acadia). CenterPointe is a provider of integrated inpatient and outpatient behavioral health services. The transaction was led by Whit Knier, Michael Mahoney and Josh Bruner of the Harris Williams Healthcare & Life Sciences (HCLS) Group.
Bass, Berry & Sims PLC acted as legal counsel to CenterPointe on the transaction.
“CenterPointe management, NaviMed, HEP and Siguler Guff have done a tremendous job building CenterPointe into one of the leading behavioral health providers in the Midwest with a deep commitment to delivering the highest quality care to its patients,” said Whit Knier, a managing director at Harris Williams. “The company has found a great partner in Acadia, and we look forward to following its continued success as part of the broader Acadia platform.”
CenterPointe is an established leader in behavioral health and addiction treatment services and maintains a reputation for providing a comprehensive continuum of quality care through a broad spectrum of treatment settings. CenterPointe operates inpatient and outpatient psychiatric and addiction treatment programs in the Midwest, serving a wide range of populations including child, adolescent, adult, senior adult, military, veteran and first responders. Ezra Mehlman from HEP and Bijan Salehizadeh of NaviMed served on CenterPointe’s board of directors.
NaviMed is a Washington, D.C.-based private capital firm with over $400 million of assets under management, focused exclusively on the healthcare industry. NaviMed invests in fast-growing lower-middle market healthcare businesses that NaviMed believes are poised to benefit from the reform and technology innovation reshaping the healthcare industry. The firm focuses on healthcare services, healthcare IT, hospital products and pharmaceutical services businesses. NaviMed targets profitable private companies with up to $10 million of EBITDA and double-digit revenue growth. NaviMed’s senior investment team has a track record of value creation spanning, in the aggregate, dozens of investments and more than $11 billion of enterprise value created over the course of their combined careers.
HEP provides expansion capital to innovative healthcare services and healthcare information technology companies. Central to HEP's strategy is its unique and extensive hospital system and health plan network, 36 members of which are investors in HEP's funds. HEP seeks to invest in companies that improve the quality of the patient experience, expand access and reduce the cost of healthcare. HEP previously backed Buddy Turner and members of the CenterPointe management team as part of HEP I portfolio company Behavioral Centers of America, which was also sold to Acadia.
Siguler Guff is a leading global multi-strategy private markets investment firm which, together with its affiliates, has over $15 billion of assets under management, as of September 30, 2021, and over 25 years of investment experience. Siguler Guff seeks to generate strong, risk-adjusted returns by focusing opportunistically on market niches. Siguler Guff’s core investment strategies include small business private equity, opportunistic and private credit, distressed real estate, and emerging markets. Siguler Guff’s investment products include direct investment funds, multi-manager funds and customized separate accounts. Founded in 1991 and headquartered in New York, Siguler Guff maintains offices in Boston; London; Moscow; Mumbai, India; São Paulo; Shanghai; Seoul, South Korea; Tokyo; Hong Kong; and Houston. Of note, Siguler Guff previously backed Buddy Turner and members of the CenterPointe management team in relation to its portfolio company Behavioral Centers of America, which was also sold to Acadia.
Acadia is a leading provider of behavioral healthcare services across the United States. As of September 30, 2021, Acadia operated a network of 230 behavioral healthcare facilities with approximately 10,200 beds in 40 states and Puerto Rico. With more than 20,000 employees serving approximately 70,000 patients daily, Acadia is the largest stand-alone behavioral health company in the U.S. Acadia provides behavioral healthcare services to its patients in a variety of settings, including inpatient psychiatric hospitals, specialty treatment facilities, residential treatment centers and outpatient clinics.
Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams HCLS Group has experience across a broad range of sectors, including healthcare providers; payors and payor services; outsourced pharmaceutical services; medical device supply chain; healthcare IT; and pharmacy. For more information on the HCLS Group and other recent transactions, visit the HCLS Group’s section of the Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: email@example.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.
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