New Harbor Capital Acquires Majority Interest in Community Psychiatry Management, LLC
July 24, 2015 / Investments
Chicago-based private equity firm New Harbor Capital has made a majority investment in Community Psychiatry Management, LLC, a leading behavioral health practice management company supporting over 40 affiliated psychiatrists practicing in California’s Sacramento, San Joaquin and Bay Areas.
Headquartered in Sacramento, California, the company’s affiliated physicians serve patients suffering from a range of behavioral health disorders. Community Psychiatry is the largest outpatient provider in the state of California and provides services through over 20 outpatient locations as well as via telepsychiatry appointments. For additional information, please visit www.communitypsychiatry.com.
“For over twenty years, Community Psychiatry has been improving access to psychiatric care by creating cooperative relationships with physicians, psychotherapists, hospitals and insurers,” said Ed Lhee, Partner at New Harbor Capital. “We look forward to working with Dr. Levine and his team to accelerate the company’s growth by adding new psychiatrists, adding new patient services and supporting the appropriate use of telemedicine.”
“We are committed to improving and simplifying access to mental healthcare services,” said Dr. Mark Levine, CEO of Community Psychiatry. “I look forward to our partnership with New Harbor and their expertise in supporting fast growing, high quality service businesses such as Community Psychiatry.”
Avante Mezzanine Partners and California Bank & Trust provided financing for the transaction and McDermott Will & Emery LLP served as legal counsel to New Harbor Capital.