ReMed Recovery Care Centers, LLC (“ReMed”), a leading regional best-in-class provider of brain injury rehabilitation services, announced that it was acquired by US Community Behavioral, LLC (“USCB”), a portfolio company of Bregal Partners.
The acquisition was made in partnership with ReMed’s management team and will provide ReMed with support infrastructure and capital to expand its operations. ReMed will become a division of USCB. The terms of the transaction were not disclosed. Bryant Park Capital Securities, Inc. acted as exclusive financial advisor to ReMed in connection with this transaction.
Joanne Finegan, the President of ReMed, stated, “This transaction represents an exciting next step for ReMed, as part of a leading platform of community-based behavioral health services across the United States. ReMed’s partnership with US Community Behavioral will provide resources and capital to continue to enhance the breadth and depth of our referral and patient relationships. We look forward to the opportunities ahead, especially as ReMed enters its 30th year.”
“We had very specific criteria for a partner. This was our first experience with an investment bank and Bryant Park’s experience and commitment were invaluable. The senior bankers on the deal educated and guided us and provided the necessary support throughout. They remained fully committed to the deal through the ups and downs of a long process and enabled us to reach our goals”, said Ross Rieder, the co-founder and former President and majority shareholder of ReMed.
About ReMed Recovery Care Centers
ReMed is the largest provider of brain injury rehabilitation and supported living services in Pennsylvania. The Company provides rehabilitation and treatment services in group homes to individuals with mild, moderate and severe brain injuries on a short-term, long-term or episodic basis in the greater Philadelphia and Pittsburgh areas. The Company has been providing rehabilitation and supported living services in the area since 1984. For more information on ReMed, visit www.remed.com.
About US Community Behavioral
US Behavioral Community Behavioral is a leading multi-state provider of community-based residential and behavioral services to adults and children. The company provides a full continuum of services including supported living, licensed group homes, employment services, as well as autism and other therapy-based behavioral services. The Company is recognized as a best-in-class provider within the large, community-based I/DD services industry. US Community Behavioral was acquired in August by private investment firm Bregal Partners as a platform in the community-based behavioral health sector.
About Bregal Partners
Bregal Partners is a private investment firm that partners with management teams to build industry leading companies in the middle market. Areas of focus include consumer, food and retail, energy services, and healthcare. The firm is part of Bregal Investments, the investing arm for Cofra Holding AG, a family holding company with a history dating back to 1841. With $500 million in committed capital, Bregal is one of several dedicated funds under the Bregal Investments umbrella, which has invested or committed over $9 billion since 2002. For more information on Bregal Partners, visit www.bregalpartners.com.
About Bryant Park Capital
Bryant Park Capital is an investment bank providing M&A and corporate finance advisory services to emerging growth and middle market public and private companies. Our professionals have completed approximately 400 assignments representing an aggregate transaction value of over $80 billion. For more information on Bryant Park Capital, visit www.bryantparkcapital.com.