Westport Capital and Reichmann Healthcare announced they have jointly acquired a controlling interest in Wellington Healthcare Services, a healthcare provider based in Roswell, Georgia. Details of the transaction were not disclosed.
“We are excited about the opportunities that this strategic alignment with Reichmann and Westport offers the entire Wellington team,” Jeff Andrews, president of Wellington, said in a statement.
Wellington is comprised of 11 long-term care and senior living centers based in the Southeast US with a capacity for more than 1,300 residents.
The past few months have seen continued interest by private equity firms in the US healthcare sector.
Last month, Westport, headquartered in Westport, Connecticut, partnered with Capital Health Group and Kaplan Development Group to acquire four healthcare facilities in New England. The four properties, collectively known as the New England Healthcare Portfolio, represent a total of 369 assisted- and independent-living units.
Private equity firm The Carlyle Group also announced in July that it had purchased Toledo, Ohio-based Manor Care for $4.9 billion (€3.6 billion). Manor Care, which provides short-term post-acute and long-term health services, operates more than 500 facilities in the US.
Reichmann Healthcare Capital, owned by Canadian Barry Reichmann, acquires interests in small- to medium-sized senior housing businesses in the US. Westport Capital Partners was founded in late 2005 by Russel Bernard, who previously headed up property investment at Los Angeles-based Oaktree Capital Management.