Private equity investors were behind 63 percent of mergers and acquisitions in 2022, with substance use seeing the most transactions.
Here are the notable deals in 2022, according to the report:
1. In January, Summit BHC was sold to Patient Square Capital from FLL Partners and Lee Equity. Summit BHC is a behavioral health and addiction treatment service provider based in Franklin, Tenn. The organization acquired seven psychiatric hospitals in six states from Strategic Behavioral Health. Summit now owns and operates 31 facilities across the country.
2. Medical Properties Trust, a real estate investment group, paid $950 million to investment firm Welsh, Carson, Anderson & Stowe to purchase and leaseback 18 inpatient hospitals and an equity interest in Springstone, a mental health provider based in Louisville, Ky.
3. Lee Equity Partners acquired Bradford Health Services from Centre Partners. Birmingham, Ala.-based Bradford Health Services provides substance abuse treatment and recovery services across 40 locations in the Southeast.
4. Franklin, Tenn.-based Acadia Healthcare acquired four treatment centers in the Atlanta suburbs from Brand New Start Treatment Centers. The company also opened new behavioral health joint ventures with Covenant Health in Tennessee and Lutheran Health Network in Minnesota. Covenant Health is based in Knoxville, Tenn., and Lutheran Health Network is based in Fort Wayne, Ind.
5. ARC Health, a Thurston Group portfolio company, acquired Lotus Consulting, a mental health therapy practice based in Ann Arbor, Mich.
6. Lewisville, Texas-based BayMark Health Services acquired Fritz Clinic, a group of six opioid treatment programs based in Alabama, and the Nashville Recovery Suboxone Clinic.
7. Optum, UnitedHealth Group’s health services division, acquired Refresh Mental Health from private equity firm Kelso & Co.
8. Brentwood, Tenn.-based Lifepoint Health acquired a majority ownership interest in Springstone, a behavioral health provider with 18 hospitals and 35 outpatient locations across nine states.