Patient Square Capital will acquire Summit BHC from FFL Partners and Lee Equity Partners, according to a news release.
Summit BHC, based in Franklin, Tenn., develops and operates behavioral health hospitals and addiction treatment centers throughout the country. Founded in 2013, the company’s primary focus is on psychiatric services and substance use disorder treatment.
Patient Square Capital, based in Menlo Park, Calif., is dedicated healthcare investment firm. Founded in 2020, the firm seeks investments across several healthcare industry subsectors, including products, services and technologies designed to improve health.
FFL Partners, based in San Francisco, invests in middle market companies within healthcare and business services. Founded in 1997, the firm generally commits $50 million to $200 million to individual transactions.
Lee Equity Partners is a New York-based private equity firm that focuses on control buyouts and growth capital financings in the middle market. Founded in 2006, the firm prefers to make more substantial investments in several sectors, including healthcare.
Terms of the transaction were not disclosed.