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RHA Health Services Acquired by Formation Capital

Asheville, NC – November 6, 2015

RHA Health Services (RHA) is pleased to announce it has been acquired by funds managed by Formation Capital and Safanad Limited.

All programs and services have been acquired and will be incorporated into the new RHA. RHA’s management team will remain the same, with corporate headquarters in Asheville, NC and the financial services division in Atlanta, GA.

“We are thrilled to be the first company focused on mental health, substance abuse, and intellectual and developmental disabilities services in Formation Capital’s portfolio,” said Gordon J. Simmons, CEO of RHA Health Services, LLC. “Formation Capital, along with its strategic partner Safanad, will provide RHA with board-level guidance, strategic advice and greater access to equity and debt capital that will support the continued growth of RHA’s operations through the Mid-Atlantic and Southeast regions.”

People supported by RHA will see little to no change in the company’s day-to-day operations. “RHA’s focus remains the same,” said Simmons. “We will continue to focus on quality care, treatment and service for the people and communities we support.”


RHA Health Services, LLC provides a broad range of person-centered, integrated, and high-quality supports and services focused on children and adults living with mental health and substance abuse challenges, as well as those living with intellectual & developmental disabilities. RHA has over 5,000 employees in North Carolina, Tennessee, Georgia and Utah. For more information regarding RHA Health Services, LLC, visit www.rhahealthservices.org.

Formation Capital is a global private investment management firm solely focused on healthcare services investment and healthcare real estate opportunities. Since 1999, Formation Capital and its affiliates have sponsored over $9.0 billion of investments in healthcare services, seniors housing and care and post-acute services. For more information regarding Formation Capital, visit www.formationcapital.com.

Safanad is a global principal investment firm that invests in real estate, private equity and public markets. Safanad’s investment focus is primarily within the healthcare, education, and financial services sectors. Since 2009, Safanad and its affiliates have invested in over $6.0 billion of investments in healthcare services, seniors housing and care and post-acute services. For more information, visit www.safanad.com


CONTACT:

Gordon J. Simmons
Chief Executive Officer

Jeanne Duncan
President


RHA Health Services, LLC
17 Church Street
Asheville, NC 28801
(828) 232-6844
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