BIRMINGHAM, Ala. and NEW YORK, May 18, 2021 /PRNewswire/ -- KKR, a leading global investment firm, announced today the closing of its previously-announced acquisition of a majority interest in Therapy Brands (the "Company"), a leading practice management and electronic health record (EHR) software platform for mental, behavioral, substance use recovery, applied behavior analysis (ABA) and physical rehabilitation healthcare providers.
"This acquisition is exciting for the Therapy Brands family – our employees, our customers, and their patients," said Kimberly O'Loughlin, CEO of Therapy Brands. "KKR brings a deep understanding of the healthcare sector and extensive experience in scaling technology-enabled platforms. This support will help us accelerate our mission of making it easier for providers to navigate an increasingly complex administrative landscape so they can spend more time and focus on delivering improved outcomes for their clients."
"Therapy Brands is delivering enormous value to its clinicians and supporting better healthcare outcomes for patients with its high caliber portfolio of purpose-built software solutions," said Max Lin, a KKR Partner who co-leads the health care industry team for KKR's Americas Private Equity business. "We are excited to work closely with Kimberly and her team to help build enhanced solutions for the mental and behavioral healthcare market."
Founded in 2013, Therapy Brands provides end-to-end software solutions to streamline the full clinical, administrative and reimbursement workflows of healthcare professionals in multiple end markets, focused on the underserved mental and behavioral healthcare fields. Its HIPAA-compliant solution suite supports daily operations for more than 28,000 practices across the U.S., ranging from individual providers to national multi-location practice groups. Therapy Brands' solutions are purpose-built, focused squarely on improving the patient experience and decreasing the administrative burden for practitioners so they can spend more time focused on the health and well-being of their clients and businesses.
KKR made its investment in Therapy Brands primarily from its Americas XII Fund. PSG, a leading growth equity firm that focuses on partnering with middle-market software and technology-enabled service companies and existing investor in Therapy Brands, participated in the transaction alongside KKR and remains a minority shareholder in the Company. Further financial details of the transaction were not disclosed.
Harris Williams served as financial advisor and Kirkland & Ellis LLP as legal advisor to KKR. William Blair and TripleTree acted as financial advisors and Davis Polk & Wardwell LLP as legal advisor to Therapy Brands.
About Therapy Brands
At a time when the topics of digital connectivity and access to care are at the forefront of the cultural conversation in the U.S., Therapy Brands is equipping practitioners with effective solutions to address the growing needs of mental and behavioral health, substance use recovery, applied behavior analysis and rehabilitation populations. Through purpose-built, fully integrated practice management and EHR solutions provided by Therapy Brands, healthcare providers can improve patient quality of care and support better health outcomes for those they serve. Therapy Brands is headquartered in Birmingham, AL. For more information, please visit us at www.therapybrands.com
KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life, and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at www.kkr.com and on Twitter @KKR_Co.
PSG is a growth equity firm that partners with middle-market software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 65 companies and facilitated over 300 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City and London. To learn more about PSG, visit www.psgequity.com.
Cara Major or Miles Radcliffe-Trenner
For Therapy Brands:
SOURCE Therapy Brands