KKR to buy therapy brands for $ 1.2 billion in health deal

KKR to buy therapy brands for $ 1.2 billion in health deal

(Updates with company statement in second paragraph) — With assistance by Crystal Tse Before it’s here, it’s on the Bloomberg Terminal.

KKR has focused on behavioral health in the past with the formation of Blue Sprig Pediatrics Inc., a platform of clinics for children diagnosed with autism, and BrightSpring Health Services, a home- and community-based health-care services provider. Read more on private equity’s reach into the health care system

Birmingham, Alabama-based Therapy Brands provides mental- and behavior-health practitioners with technology to manage their businesses, including software for electronic health records, payments and data collection. The company employs more than 500 people nationally. KKR last month announced an investment in Danish biotechnology group Nordic Bioscience A/S, bringing its spending on health-care acquisitions over the past year to $1.4 billion — roughly 30% more than the previous 12-month period, data compiled by Bloomberg show. The private equity industry has expanded its reach into every part of the health-care sector, including medical practices, home care and other specialties.

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