ARC Health (ARC), a portfolio company of Thurston Group, has secured a $182m credit facility to refinance existing indebtedness and fund growth initiatives in the US.

Founded in 2021 and based in Cleveland, Ohio, ARC is an outpatient behavioural health provider.

Serving patients across 91 locations in 20 US states with more than 1,300 clinicians, ARC offers full-service behavioural health offerings and is claimed to focus on a data-driven, patient-centred model for strong clinical and operational results.

The funding will allow ARC Health to expand its presence and improve behavioural health services in important regions throughout the US.

ARC Health CEO Vince Morra said: “This new credit facility marks an exciting milestone in ARC's growth journey.

“It provides us with the capital and flexibility to continue expanding our footprint, supporting our partner practices, and advancing access to high-quality behavioral health care nationwide.”

Thurston Group managing partner Dan Davis said: “Thurston is proud to support ARC and is excited for the next chapter of its growth marked by the establishment of its new credit facility.

“Our partnership with ARC Health reflects our confidence in the company's strategy, leadership team, and continued commitment to delivering exceptional care. We are grateful for the support of our financial partners as ARC enters the next phase of its platform growth.”

Wilkie Farr & Gallagher served as legal counsel while Houlihan Lokey acted as the placement agent to ARC Health. Twin Brook Capital Partners took on the roles of sole bookrunner, administrative agent, and joint lead arranger for the transaction.

Thurston Group is a private equity company with focus on businesses operating in the healthcare services.

In January 2024, ARC Health acquired Mindsoother Therapy Center, a mental health practice serving the residents of Livingston, New Jersey.