M&A Deal Summary

Psychiatric Solutions Acquires Altus Health Systems

On July 10, 2002, Psychiatric Solutions acquired healthcare services company Altus Health Systems from Progress Equity Partners for 16M USD

Acquisition Highlights
  • This is Psychiatric Solutions’ 1st transaction in the Healthcare Services sector.
  • This is Psychiatric Solutions’ largest (disclosed) transaction.
  • This is Psychiatric Solutions’ 1st transaction in the United States.
  • This is Psychiatric Solutions’ 1st transaction in Illinois.

M&A Deal Summary

Date 2002-07-10
Target Altus Health Systems
Sector Healthcare Services
Buyer(s) Psychiatric Solutions
Sellers(s) Progress Equity Partners
Deal Type Add-on Acquisition
Deal Value 16M USD

Target

Altus Health Systems

Forest Park, Illinois, United States
Altus Health Systems (dba Riveredge Hospital) is a company involved in providing treatment of behavioral health to children, adolescents, young adults, adults, and geriatric persons.

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Buyer(S) 1

Buyer

Psychiatric Solutions

Franklin, Tennessee, United States

Category Company
Founded 1988
Sector Healthcare Services
Employees16,000
DESCRIPTION

Psychiatric Solutions Inc., is a provider of behavioral health care services. PSI operates 34 freestanding psychiatric inpatient facilities with more than 4,000 beds. The company also manages freestanding psychiatric inpatient facilities and psychiatric inpatient units within general acute care hospitals owned by others.


DEAL STATS #
Overall 1 of 1
Sector (Healthcare Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Illinois) 1 of 1
Country (United States) 1 of 1
Year (2002) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-07-31 Horizon Behavioral Services

Lewisville, Texas, United States

Horizon Behavioral Services is a provider of Employee Assistance Programs to many mid-sized and large employers. Horizon Behavioral Services is the third-largest domestic provider of EAP services by membership with approximately 1,400 contracted employer clients representing over 5 million covered employees in all 50 states and countries around the globe. The company provides unlimited 24/7 confidential telephonic consultation, comprehensive online employee assistance program and work/life resources and access to a referral network of more than 14,000 licensed clinicians.

Sell $70M

Seller(S) 1

SELLER

Progress Equity Partners

Dallas, Texas, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
Size Small
Type Sector Agnostic
DESCRIPTION

Progress Equity Partners is a private investment firm that seeks control positions in 'well-managed, entrepreneurial, service-based businesses.' Progress focuses on companies with sustainable/scalable business models and low capital expenditures. Specific areas of interest include building products/construction services, communication, marketing, facility maintenance services, franchising, manufacturing, retail, specialty food and healthcare services. Progress Equity Partners is based in Dallas, Texas.


DEAL STATS #
Overall 1 of 13
Sector (Healthcare Services) 1 of 3
Type (Add-on Acquisition) 1 of 6
State (Illinois) 1 of 1
Country (United States) 1 of 13
Year (2002) 1 of 1
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-02-01 Altus Health Systems

Forest Park, Illinois, United States

Altus Health Systems (dba Riveredge Hospital) is a company involved in providing treatment of behavioral health to children, adolescents, young adults, adults, and geriatric persons.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-03-01 Baskins Group

Irvine, California, United States

Baskin's is a regional department store retailer with 16 locations offering moderately priced, nationally recognized brand name apparel, boots, shoes, and other accessories such as Wrangler, Justin, Dr. Martin, Red Wing, Carhartt and Polo.

Buy -