LLR Partners today announced a $34 million growth capital investment in SUN Behavioral Health, a national operator of freestanding psychiatric hospitals. Existing investors including HealthInvest, NewSpring Capital, Petra Capital Partners and SV Life Sciences also participated in the round.
SUN Behavioral Health partners with communities to solve the unmet needs of those suffering from psychiatric and addiction disorders. SUN collaborates with medical and surgical centers, physicians and behavioral healthcare providers as well as local schools and social service agencies to ensure that its hospitals provide patients and their families with a seamless continuum of care that meets the highest standards of treatment.
“We’re grateful for the opportunity to partner with LLR and our other investors to confront the significant and growing unmet need for behavioral health treatment,” said Steve Page, President and CEO of SUN Behavioral Health. “LLR shares our long term vision for building out a network of superior hospitals and enhancing the quality of life for our patients and their families through compassionate and personalized care.”
In January 2016, SUN Behavioral Health opened a 148-bed behavioral health hospital in the Texas Medical Center in Houston, TX. Three additional SUN hospitals with a total of 431 beds are scheduled to open in Columbus, OH; Northern KY (Greater Cincinnati); and Georgetown, DE (Delmarva Peninsula).
“We value Steve and his team’s commitment to educating patients, families and the public on the process of recovery, measuring success through patient outcomes and social impact,” added Elizabeth Campbell, vice president at LLR. “With the support of recent legislation, experienced leadership and deep community relationships, SUN is well-positioned to make a meaningful impact on psychiatric healthcare.”
SUN hospitals operate a 24/7 assessment and admissions department to allow patients access to an array of services such as inpatient and outpatient care, psychiatric and substance abuse programs and specialized programs for children, adolescents, adults and seniors. SUN offers patients personalized programs to cater to their unique needs according to age, gender, acuity and other factors, as well as strong clinical staff-to-patient ratios, which allow for significantly more therapy time and group sessions.
“SUN Behavioral Health’s unique clinical model and dynamic hospital design give patients and payers of all types better access to exceptional care,” said Jack Slye, partner at LLR. “We’re excited to partner with SUN to help open additional hospitals and address this fast-growing medical need.”
About SUN Behavioral Health
SUN Behavioral Health operates freestanding psychiatric hospitals where a substantial unmet need for services exists. We work closely with medical and surgical hospitals, physicians and behavioral health care providers as well as local schools and community organizations to ensure that our hospitals provide our patients and their families with a seamless continuum of care that meets the highest standards of personalized treatment. For more information, visit www.sunbehavioral.com.
About LLR Partners
LLR Partners is a private equity firm investing in middle market growth companies. LLR invests in a broad range of industries, with an emphasis on software, technology-enabled services and healthcare. Founded in 1999 and with more than $2 billion raised across four funds, LLR is a flexible provider of capital for growth, recapitalizations and buyouts. For more information about LLR, visit www.llrpartners.com.
