Palladium Equity Partners has acquired Health Connect America, a multi-state behavioral health platform, from Harren Equity Partners. William Blair provided financial advice to Health Connect America on the transaction.
New York, NY and Franklin, TN, August 10, 2021– Palladium Equity Partners, L.L.C. (along with its affiliates, “Palladium”), a middle market private equity firm with nearly $3 billion in assets under management, today announced that it has acquired Health Connect America, Inc. (“Health Connect America”), a mission-driven behavioral health services platform, from Harren Equity Partners.
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.
“We are thrilled to partner with Kristi Shain and her mission and outcomes-driven team which has built a company at the vanguard of community-based behavioral health services,” said Adam Shebitz, a Partner at Palladium. “We believe there is substantial opportunity to expand the Company’s patient-centric model into new states and service lines through a combination of organic and inorganic growth.”
Kristi Shain, the President and CEO of Health Connect America, said: “We are excited to partner with Palladium Equity Partners in the next stage of our mission-driven growth. We see significant opportunity to expand upon our presence in our existing markets as well as near-term expansion in adjacent geographies, of course while always maintaining our core values and relentless prioritization of our clients.”
We are also pleased to partner again with industry executive Dean Holland,” added Adam Shebitz. “Over the past 15 years of working together, Dean has now partnered with us in six businesses, including Jordan Health Services, HealthSun, and ALC.”
Dean Holland said: “Health Connect America is the culmination of a long history evaluating behavioral healthcare opportunities with my partners at Palladium.” Mr. Holland added, “and it represents a compelling opportunity to work with Kristi and her dedicated team to drive outstanding client outcomes and stakeholder value.”
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.
The transaction terms were not disclosed.
About Health Connect America
Health Connect America provides mental and behavioral health services to children, families, and adults across multiple states. Health Connect America is honored to be a part of the communities it serves and walk alongside its clients as they embark on a journey to self-improvement and more fulfilling lives. Health Connect America provides its services in your community, in your home, or in one of our multiple offices across several states. Its network of direct care professionals is readily available to meet the needs of our clients and their families in our communities.
The services Health Connect America provides are meant to fit into customers’ lives and can come in the form of one-on-one or family counseling, case management, autism services, or medication management for children, adults, and families. These services promote positive personal growth, develop healthy coping skills, preserve and repair relationships and natural support systems. Additional information may be found at www.healthconnectamerica.com.
About Palladium Equity Partners, LLC
Palladium is a middle market private equity firm with nearly $3 billion in assets under management. The firm seeks to acquire and grow companies in partnership with founders and experienced management teams by providing capital, strategic guidance and operational oversight. Since its founding in 1997, Palladium has made 37 platform investments and 141 add-on acquisitions.
Palladium is a signatory of the United Nations supported Principles for Responsible Investment (PRI). The PRI is recognized as the leading global network for investors committed to integrating environmental, social and governance (ESG) considerations into their investment decision making. For more information on Palladium, please visit www.palladiumequity.com.