Onex Corp. has announced that Onex Partners V will acquire Newport Healthcare.
Newport, based in Newport, R.I., is a provider of healing centers for teens and young adults struggling with primary mental health issues. Founded in 2008, the company’s offerings include residential treatment centers, partial hospitalization programs and intensive outpatient programs.
Onex Partners is the private equity platform of Onex, which is based in Toronto, Canada. Onex Partners focuses on investing in mid- to large-cap companies in the United States, Canada and Western Europe that require $200 million or more of initial equity capital.
Terms of the acquisition were not disclosed.