Elysium Healthcare has acquired fellow specialist mental health services provider Raphael Healthcare.
The deal is the first acquisition by Elysium, which was formed last year by the merger of Partnerships in Care and Priory Group. Elysium specialises in acute mental illness, personality disorders, eating disorders, secure and rehabilitation care across 22 sites. Private equity firm BC Partners backs the organisation.
Raphael, established in 2004, provides low secure mental health services for women at its Farndon Unit in Nottinghamshire and has a site with planning permission for a Tier 4 CAMHS unit at Briars Hey in Lancashire.
The deal was completed swiftly, with 6 weeks between the signing of Heads of Agreement and completion.
Claire Thomson, CEO of Raphael Healthcare, said: “We are extremely proud of the award-winning service that we provide to our patients and stakeholders. The business has found a good new owner in Elysium who have the same values as us, placing a strong emphasis on quality and the same client focused values. This is a tremendous opportunity and natural progression for Raphael and one that should benefit service users, commissioners and our staff.”
Catalyst Corporate Finance’s Healthcare team, led by partner Justin Crowther, advised on the deal. “We are delighted to have worked closely with the Shareholders of Raphael to achieve a successful outcome,” Crowther said. “Raphael is a market leading brand and the transaction will enable Elysium to develop further their specialist services and allow them to expand their geographical presence.”