NEW YORK & NASHVILLE, Tenn.--(BUSINESS WIRE)--Consonance Capital Partners, a leading healthcare-focused private equity fund announced today that it completed the recapitalization of Psychiatric Medical Care, LLC (“PMC”) in partnership with the company’s management team. PMC is the leading behavioral health management company focused on addressing the unique needs of the geriatric population, primarily within underserved rural markets. The recapitalization will enable the company to accelerate its expansion of offerings and provide additional services to its clients and their high-need patient populations and communities. Financial terms of the transaction were not disclosed.
“PMC is a premier behavioral health management company and is well-positioned to meet the growing need for high-quality geriatric behavioral care, especially within rural communities,” noted Stephen McKenna, Managing Partner & Co-Founder of Consonance Capital Partners. “J.R. Greene, CEO of PMC, and his team have created a robust platform by establishing a sustainable model with differentiated, high quality clinical programming at its core. We look forward to working with PMC as it continues to build upon its considerable success to date.”
“I am proud of what the team at PMC has been able to accomplish; since the beginning, PMC’s mission has been to improve the quality of life for older adults living in rural communities,” explained J.R. Greene. “We are excited to work with Consonance based on a shared vision of improving the lives of PMC’s patients. We partnered with Consonance due to their extensive experience in healthcare, and I am confident that with their support, resources and national reach, we will be able to enhance and expand our services to further support our customers and their patients in every way that we can.”
Nancy-Ann DeParle, Partner & Co-Founder of Consonance Capital Partners, commented, “Having been raised in a rural community, I understand firsthand the unmet need for behavioral healthcare services in these areas, especially among the geriatric population. Addressing these gaps in care has been a lifelong goal, and I am thrilled that we at Consonance will be able to assist J.R. and his team in expanding PMC’s footprint and helping more people in these underserved communities.”
Consonance Capital Partners was advised by Latham & Watkins LLP and Bass, Berry & Sims PLC. PMC was advised by Brentwood Capital Advisors LLC and Waller Lansden Dortch & Davis, LLP.
About Consonance Capital Partners
Consonance Capital Partners invests in private companies in the lower middle market of the U.S. healthcare industry with an emphasis on businesses driving efficiency, cost containment and high quality clinical care to patients. Consonance Capital Partners participates in growth equity, leveraged buyout, and recapitalization transactions. The private equity fund is associated with Consonance Capital Management, a healthcare-focused long/short public equity manager, and together Consonance Capital has approximately $2 billion of assets under management. For more information, visit www.consonancecapital.com.
About Psychiatric Medical Care
Founded in 2003 and based in Nashville, TN, PMC is the leading behavioral health management company focused on addressing the unique needs of the geriatric population. PMC operates in over 20 states, primarily within rural and underserved communities. The company manages both inpatient psychiatry units and intensive outpatient psychiatry programs. The company's programs provide evaluation and treatment for older adults suffering from behavioral health issues including depression, anxiety, bipolar disorder, and PTSD. For more information, visit www.psychmc.com.