On Wednesday 19th August, Universal Health Services, Inc., parent company of Cygnet Health Care Limited (“Cygnet”) announced that it has completed the acquisition of Alpha Hospitals Holdings Limited (“Alpha”) from C&C Alpha Group, the private office of the Choudhrie family for an enterprise value of £95m.
Alpha is a leading UK provider of low and medium secure mental health facilities, child and adolescent services and various specialist mental healthcare services.
Cygnet is one of the UK’s largest independent providers of mental health and social care services to individuals suffering from psychiatric illnesses and disabilities.
Universal Health Services, Inc. is one of largest hospital companies in the USA, operating, through its subsidiaries, behavioural health facilities, acute care hospitals, and outpatient care throughout the USA, Puerto Rico, the UK and the U.S. Virgin Islands.
Alan B. Miller, CEO and Chairman of the Board of Universal Health Services, Inc. said, “We are pleased to announce the acquisition of Alpha and welcome them into our growing system in the UK. The facility locations are an excellent geographical fit and their services are complementary to Cygnet’s existing portfolio.”
David Cole, CEO of Cygnet said, “We have always viewed Cygnet and Alpha’s operations as a good match and I personally am delighted to have completed this acquisition. Alpha Hospitals has a very good pedigree and an excellent reputation in the sector. Like Cygnet, it is a brand that portrays quality and confidence, and boasts very strong customer relationships.”
Smith Square acted as financial adviser to Cygnet.