Ridgemont Equity Partners portfolio company Perimeter Healthcare has acquired WoodRidge Behavioral Care, according to a news release.
The acquisition, which will serve as the foundation for a new behavioral healthcare company, was sponsored by Ridgemont.
Ridgemont, based in Charlotte, N.C., is focused on investing in middle-market companies to secure majority ownership or be the lead minority investor. The firm invest in several sectors, including healthcare. Note: Learn more about Ridgemont and other leading private equity firms that invest in healthcare here.
Perimeter Healthcare provides mental and behavioral health services in a variety of settings, including inpatient psychiatric hospitals, residential treatment centers and outpatient clinics.
WoodRidge Behavioral Care, based in Madison, Tenn., operates five psychiatric residential treatment facilities and three acute care programs across Tennessee, Arkansas and Missouri.
McGuireWoods served as legal counsel to Ridgemont. Financial terms of the transaction were not disclosed.