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June 16, 2008, PRNewswire, NASHVILLE, TN:
NASHVILLE, TN - June 16, 2008, PRNewswire
Leading specialty behavioral health company to use proceeds to accelerate growth
Haven Behavioral Healthcare, Inc., ("Haven"), a leading provider of specialty behavioral health services, today announced that Ascension Health Ventures ("AHV") has made an equity investment in the Company, joining existing investors Thoma Cressey Bravo, Clayton Associates and Haven management as shareholders. AHV is the general partner of CHV II, L.P., an investment fund formed by Ascension Health, Catholic Health Initiatives, Catholic Health East and Catholic Healthcare West.
"We believe that Haven's mission of delivering high quality specialty inpatient behavioral care is a fit with our mission and goals," said Ryan Schuler, Investment Director at AHV. "We are excited to partner with Haven and its management team to further expand its patient-focused operations."
Haven is focused on providing high quality, specialized therapy to patients in need of intensive treatment. Services include inpatient treatment for adolescents, adults and seniors suffering from psychiatric disorders as well as intensive inpatient and residential programs for females of all ages suffering from eating disorders.
Haven's current footprint includes inpatient facilities in Arizona, Colorado, Oklahoma and Virginia.
"Ascension Health Ventures is an astute healthcare investor, and has a proven track record of being a great partner for rapidly expanding healthcare businesses," said Vernon Westrich, Chief Executive Officer of Haven. "AHV's relationships in the behavioral health and hospital sectors should help accelerate Haven's growth."
About Haven Behavioral Healthcare
Formed in 2006, Haven Behavioral Healthcare is focused on providing high quality, specialty behavioral health services. Haven, headquartered in Nashville, Tennessee, currently operates specialty behavioral health facilities in Arizona, Colorado, Oklahoma and Virginia. Haven is led by Chief Executive Officer Vernon Westrich and Chief Financial Officer Page Barnes. Prior to founding Haven, Westrich and Barnes were the President and Chief Financial Officer of the Behavioral Health Division of Ardent Health Services, respectively.
About Ascension Health Ventures
Ascension Health Ventures was launched in 2001 as a wholly-owned subsidiary of Ascension Health. AHV's role has been to construct and manage a strategic portfolio of investments that deliver a venture investment return, have the potential to transform the healthcare industry and significantly enhance the quality of patient care. CHV II, LP, a limited partnership between Ascension Health, Catholic Health Initiatives, Catholic Health East and Catholic Healthcare West, has been formed to expand this strategic investment initiative to other Catholic healthcare systems. AHV is the general partner of CHV II, LP.
About Thoma Cressey Bravo
Thoma Cressey Bravo is a leading private equity investment firm with more than 27 years of experience in building successful companies. Recognized nationally for pioneering the "buy and build" strategy, Thoma Cressey Bravo identifies high-potential industry sectors and partners with successful companies to build industry leaders through organic growth, operational improvements and strategic acquisitions. The firm currently manages almost $2 billion in equity capital and specializes in healthcare, software, business services and other consolidating industries including education, distribution and consumer products. Thoma Cressey Bravo has been an active investor in the healthcare industry for more than two decades and has invested in almost every major healthcare segment and niche.
