NASHVILLE, Tennessee–July 6, 2006–Haven Behavioral Healthcare, Inc., a holding and operating company focused on providing high-quality, specialty behavioral healthcare services, announces today that it has acquired Remuda Ranch Co.m an Arizona-based inpatient and residential center for women suffering from eating disorders and related issues. This is Haven’s first acquisition and operating unit.
“Remuda Ranch has a strong national reputation, excellent clinical outcomes and the potential for expansion into more locations,” said Haven’s chief executive officer, Vernon Westrich. “Remuda Ranch is the leader in this rapidly growing specialty behavioral market.”
“We are excited to have Thoma Cressey and Haven as new partners, and look forward to continuing our focus on offering proven, high quality services to out patients,” says Ward Keller, president and CEO of Remuda Ranch Co. Remuda’s senior management, including Keller, invested alongside Haven in the transaction. Keller will continue his current role of president and CEO or Remuda Ranch Co and will also assist Haven in its growing strategy.
Haven Behavioral Healthcare was formed and funded in May 2006 by management and Thoma Cressey Equity Partners, a leading private equity firm with more than 25 years of experience in building successful companies and industry leaders through organic growth, operational improvements and strategic acquisitions. Clayton Associates, a private equity firm with more than ten years private equity experience and more than $100 million of committed capital in four funds, also invested in Haven and the Remuda transaction.
“Thoma Cressey recognizes a market opportunity in the behavioral healthcare industry and created Haven with an experienced management team to build a leading specialty inpatient behavioral business,” said Peter Ehrich, partner at Thoma Cressey.
Westrich, CEO of Haven, has more than 30 years of experience managing behavioral healthcare companies and was previously president of the Behavioral Health Division of Ardent Health Services. Page Barnes is serving as chief financial officer building on more than 20 years of financial and management experience, indulging more than seven years with Ardent.
Located in Wickenburg, Arizona, Remuda Ranch was established in 1990 by Ward Keller to provide faith-based inpatient and residential programs for women and girls of all faiths suffering from eating disorders and related issues. Accredited by the joint commission on Accreditation of Healthcare Organizations, Remuda Ranch provides each patient with the right tools to live a healthy, productive life.
The Healthcare & Life Sciences team at Harris Williams & Co. acted s the exclusive advisor to Remuda Ranch.
About Haven Behavioral Healthcare, Inc.
Formed in May 2006 through a partnership with Thoma Cressey Equity Partners and Clayton Associates, Haven Behavioral Healthcare, Inc. is focused on providing high quality, specialty behavioral healthcare services by partnering with or acquiring behavioral healthcare providers. Prior to starting Haven chief executive officer Vern Westrich was the president of the Behavioral Health Division of Ardent Health Servies and also chief operating officer for charter Behavioral Healthcare. Chief financial officer Page Barnes was the Chief Financial Officer and senior vice president of finance for the Acquisition and Development group of Ardent and was perviously responsible for AmSouth Bancorp’s Healthcare Loan Portfolio.
About Thoma Cressey Equity Partners, Inc.
Thoma Cressey Equity Partners, a leading private equity investment firm with more than 25 years of experience in building successful companies, specializes in the software, healthcare, business services and consumer product industries. Recognized nationally for pioneering the “buy and build” strategy, Thoma Cressey identifies high-potential industry sectors to partner with successful companies and build industry leaders through organic growth, operational improvements and strategic acquisitions. Through a series of eight private equity funds, Thoma Cressey has invested more than $2 billion in equity capital and currently manages more than $2.4 billion.