M&A Deal Summary

Promises Behavioral Health Acquires Elements Behavioral Health

On May 1, 2019, Promises Behavioral Health acquired healthcare services company Elements Behavioral Health from Frazier Healthcare Partners

Acquisition Highlights
  • This is Promises Behavioral Health’s 1st transaction in the Healthcare Services sector.
  • This is Promises Behavioral Health’s 1st transaction in the United States.
  • This is Promises Behavioral Health’s 1st transaction in California.

M&A Deal Summary

Date 2019-05-01
Target Elements Behavioral Health
Sector Healthcare Services
Buyer(s) Promises Behavioral Health
Sellers(s) Frazier Healthcare Partners
Deal Type Add-on Acquisition

Target

Elements Behavioral Health

Long Beach, California, United States
website
Formed in 2007, Elements Behavioral Health, Inc. is a provider of subacute substance abuse and psychiatric services based in Long Beach, California.

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Buyer(S) 1

Buyer

Promises Behavioral Health

Brentwood, Tennessee, United States

website


Category Company
Founded 2019
Sector Healthcare Services
DESCRIPTION

Promises Behavioral Health provides addiction and mental health treatment. The company partners with clients, their family members, and their treatment providers to understand the client’s challenges and deliver programming that is carefully designed to meet those needs. Promises Behavioral Health was formed in 2019 and is based in Brentwood, Tennessee.


DEAL STATS #
Overall 1 of 1
Sector (Healthcare Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1

Seller(S) 1

SELLER
DESCRIPTION

Frazier Healthcare Partners is a private equity and venture capital firm specializing in Growth buyout investment specifically targets businesses that deal Healthcare, Life Sciences, Pharmaceutical services, medical products, and related sectors. Frazier Healthcare Partners was formed in 1991 and is based in Seattle, Washington with an additional office in Palo Alto, California; Boston, Massachusetts; and Menlo Park, California.


DEAL STATS #
Overall 15 of 27
Sector (Healthcare Services) 7 of 11
Type (Add-on Acquisition) 8 of 12
State (California) 5 of 9
Country (United States) 15 of 27
Year (2019) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-27 CPS

Dublin, Ohio, United States

CPS is a provider of outsourced pharmacy services to hospitals and integrated health systems. CPS offers a suite of services, information technology and data informatics, including pharmacy management, technology-based tools and data analytics. CPS was founded in 1971 and is based in Dublin, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-15 CORE Institute

Phoenix, Arizona, United States

CORE Institute is a provider of healthcare solutions, care redesign, and service line management for musculoskeletal medical practices. The company was founded to fulfill a vision of excellence in patient care encompassing the entire spectrum of orthopedic and neurosciences care. CORE Institute was founded in 2005 and is based in Phoenix, Arizona.

Sell -