The New York City-based Palladium Equity Partners has acquired Health Connect America, Inc., a multi-state behavioral health platform, from Harren Equity Partners. No terms were disclosed.
Health Connect America is a multi-state behavioral health platform that treats a comprehensive mix of issues including conduct disorder, substance abuse, autism disorders and emotional disturbance. The Tennessee-based company serves communities across the Southeast and is primarily reimbursed by Medicaid-funded payors. Health Connect America’s comprehensive service offering seeks to provide long-term and sustainable relationships with key constituents in its referral and reimbursement channels.
Palladium Equity Partners is a middle-market private equity firm with nearly $3 billion in assets under management. According to the firm’s website, it has two other platform companies in health care: Jordan Health Services, a Texas-based healthcare services company offering a full continuum of home-based care, and HealthSun, a managed care organization serving over 35,000 members in its network. The addition of Health Connect America, Inc. helps Palladium get a foot into the behavioral health market.
William Blair served as financial advisor to Health Connect America on the transaction. Proskauer Rose LLP served as Health Connect America’s legal advisors. GreenbergTraurig, LLP served as the legal advisor and financing counsel for Palladium.
