Universal Health Services Acquires AscendHealth for $500,000,000
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Feed Type
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Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=78b52411-2398-475c-8c62-40d1f758e9d6&Preview=1 -
Date
6/5/2012 -
Company Name
AscendHealth -
Mailing Address
280 Madison Avenue New York, NY 10016 -
Company Description
The AscendHealth Corporation is a newly established behavioral healthcare company whose President and CEO, Richard Kresch, M. D., has maintained a successful 30 year leadership and entrepreneurial record in both the not-for-profit and proprietary sectors. Dr. Kresch most recently built and sold Heartland Health Developments, LLC, a chain of psychiatric hospitals and behavioral healthcare management operations. -
Website
http://www.ascendhealth.net -
Transaction Type
M&A -
Transaction Amount
$500,000,000 -
Transaction Round
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Proceeds Purposes
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M&A Terms
Universal Health said it is also taking on $17 million in debt held by Ascend as part of the deal. Universal Health owns and runs 231 hospitals.
