Private equity firm Cimarron Healthcare Capital has completed its acquisition of Ascent Behavioral Health. The deal comes in partnership with the Ascent’s management team, private credit asset management firm Monroe Capital and PE firm Veronis Suhler Stevenson.
Financial terms of the transaction were not disclosed.
Salt Lake City, Utah-based Ascent operates six residential behavioral health treatment programs across the state for adolescents.
The provider specializes in treating mental health issues such as depression, anxiety and attachment disorders. Its offerings include wilderness therapy and therapeutic boarding school programs, in addition to residential treatment. Since the company was founded in 1989, it’s served more than 5,000 teens.
The investment will help Ascent expand its existing programs and potentially add new complementary programs by way of acquisition, according to a press release announcing the news.