Apax Funds to Acquire Eating Recovery Center
10.05.21
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Simpson Thacher is representing funds advised by Apax Partners in connection with their definitive agreement to acquire Eating Recovery Center (“ERC Pathlight”) from CCMP Capital. The transaction is subject to applicable regulatory approvals and is expected to close in late 2021. Financial terms were not disclosed.
ERC Pathlight is a national leader in eating disorder treatment. Its differentiated clinical model meets patients where they are in their treatment journey by offering the full continuum of higher levels of care. Through the recent expansion of its Pathlight division, ERC Pathlight addresses a more comprehensive set of behavioural health conditions including primary mood and anxiety disorder treatment. ERC Pathlight lowers financial barriers to accessing behavioural care by partnering with most major commercial insurers in the U.S., so patients can focus their energy on pursuing recovery.
The Simpson Thacher team includes Ryerson Symons, Michael T. Holick, Janet K. Yu and Sydney R. Mark (M&A); Whitney Bosworth (Banking & Credit); Sophie Staples and Jenna Al-Malawi (Tax); Andrew Blau and Caitlin Fitzgerald (Executive Compensation and Employee Benefits); Daniel Venditti (Labor); Lori Lesser, Bobbie Burrows and Rachel June-Graber (Intellectual Property); Krista McManus (Real Estate); Michael Isby (Environmental); and Steven DeLott (Insurance).