Strategic Behavioral Health (SBH) has acquired Montevista Hospital and Red Rock Behavioral Health Hospital in Las Vegas, US, from Universal Health Services (UHS).
The deal is in accordance with the divestiture requirements agreed upon by the Federal Trade Commission, the Nevada Attorney General, and UHS, the SBH said. It follows the UHS’s acquisition of psychiatric solutions.
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The Montevista and Red Rock facilities are specialist psychiatric hospitals. Montevista is a provider of acute behavioral healthcare services including geriatric, adult, chemical dependency, and child and adolescent areas. Red Rock, a sister facility of Montevista, was established in 2005 to expand inpatient acute behavioral services to the geriatric
SBH founder and CEO Jim Shaheen believe his company has an opportunity to significantly expand both facilities. "We will be adding 60-80 additional beds at the Montevista sitem," he said. "We anticipate that construction will begin in 2012."
Fifth Third Bancorp, First Tennessee Bank, and Pinnacle Financial have teamed up with SBH to finance the Montevista and Red Rock acquisitions.
See Also:
SBH is a portfolio company of Dobbs Management Service (DMS) which represents the John Hull Dobbs family of Memphis.
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