Pharos Capital Group, LLC, a private equity firm based in Dallas and Nashville, acquired Seaside Healthcare, Inc., a Shreveport, Louisiana-based behavioral health services provider.
The acquisition was done in partnership with the company’s founder and CEO, Franklin Roemer. The terms were not disclosed.
Founded in 2009, Seaside owns, develops and operates a network of facilities specializing in mental health treatment services for the adult and geriatric population. Services include inpatient psychiatric treatment, partial hospitalization programs and intensive outpatient programs.
Mr. Roemer and his management team plans to develop existing and open new facilities.
In addition to its owned and leased facility-based operations, the company manages 147 behavioral beds for regional hospitals.
It has approximately 400 employees.