MBF Healthcare Partners II, L.P. Announces Sale of Acorn Health, LLC, A National Leader In The Provision of Best-In-Class Autism Services
MBF Healthcare Partners II, L.P. ("MBF"), a middle market healthcare focused private equity firm, announced today that it has sold Acorn Health, LLC ("Acorn Health") to Ontario Teachers' Pension Plan Board ("Ontario Teachers'").
Acorn Health, based in Coral Gables, Florida and an accredited national provider of high-quality applied behavior analysis ("ABA") therapy to children with autism spectrum disorder ("ASD"), was formed by MBF and Vicki Kroviak, CEO, in February 2018. Since its formation, Acorn Health successfully executed an organic and acquisition-focused growth strategy to expand service offerings to new markets. At the time of sale, the company employed approximately 1,200 individuals, served more than 1,300 families, and operated a network of 51 clinics across seven states, including Michigan, Illinois, Virginia, Florida, Maryland, Pennsylvania, and Tennessee.
"Bringing together a best-in-class team to rapidly scale a company represented both the opportunity and the challenge in the fragmented and evolving autism services space," said Miguel (Mike) B. Fernandez, Chairman of MBF. "MBF's operational experience and emphasis on growth coupled with Vicki's cultural and clinical vision for the company led to a major win for all stakeholders."
"We are appreciative of MBF's guidance and support over the last several years in helping us build a leading ABA therapy company with a national reach," said Acorn Health Chief Executive Officer, Vicki Kroviak. "Our new partnership with Ontario Teachers' gives Acorn Health additional tools to access opportunities and continue to invest in our people, our systems and our clinical infrastructure. We see a substantial need and will continue building a sustainable company offering a highly important service to children with ASD so that they may live their most independent and meaningful lives."
About MBF Healthcare Partners II, L.P.:
MBF Healthcare Partners II, L.P. is a leading middle market healthcare private equity fund based in Coral Gables, Florida. Our strategy is to partner with exceptional management teams while leveraging MBF's operating experience, domain segment knowledge, and tenured relationships to rapidly accelerate value creation. The partners of MBF have substantial operating experience in healthcare and have held senior management positions in both private and publicly traded healthcare companies. MBF principals have managed and helped build some of the nation's most innovative and successful healthcare companies. The firm is headquartered in Coral Gables, Florida. For more information, please visit www.mbfhp.com.
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