Carve-out from CBI Health positions the new standalone company for the next phase of growth
TORONTO, May 16, 2022 /PRNewswire-PRWeb/ -- Monarch House Ltd. (Monarch House), a national Canadian network of interdisciplinary behavioural health centres with a particular focus on serving children and youth diagnosed with autism spectrum disorder (ASD), announced, effective January 31, 2022, its acquisition by Venn Growth Partners (venn) and BDC Capital, becoming an independently operated company. This new partnership, alongside management, ensures that Monarch House remains a Canadian-owned private business.
"We are excited to establish Monarch House as the leading network of ASD-focused behavioural health centres in Canada and to continue to drive positive outcomes," stated Chelsea Ganam, President of Monarch House. "Our partnership with venn and BDC Capital will allow us to grow our network via new site development, as well as select acquisitions, with a view to ultimately serving more families and communities across the country," added Rachel Koffman, Chief Operating Officer of Monarch House.
"While provincial governments across Canada have expanded funding for children diagnosed with ASD, waitlists continue to grow and there is unmet demand for timely evidence-based supports," said Jonathan McCarthy, Managing Partner, Venn Growth Partners. "Our goal is to work with all stakeholders to deliver value-based care and best-in-class services to ensure the children and youth we serve live their best lives."
"Mental and behavioural health has taken on increasing importance in recent years and the COVID-19 pandemic has only served to highlight the number of children, youth, and families in need of services," said Loren Rafeson, Partner, Growth Equity Partners at BDC Capital. "Early intervention is key to driving desired behavioural outcomes and we look forward to further developing a national network of centres from which to support the growing population of individuals diagnosed with ASD."
The current management team and clinical staff will continue in similar roles in the new standalone company, delivering the same services to existing clients. "We are pleased that we were able to select and transition the business to an experienced ownership group and believe that Venn and BDC Capital are the right partners to drive Monarch House forward," said Jon Hantho, President and CEO at CBI Health. "We are proud of the important services and impact of Monarch House and are grateful to an exceptional team that will carry it forward."
Terms of the transaction were not announced. Blake, Cassels & Graydon served as legal counsel and EY LLP served as financial advisor to venn and BDC Capital. DLA Piper served as counsel to CBI Health.
About Monarch House
Founded in 2008, with clinics located in British Columbia, Alberta, and Ontario, Monarch House puts outcomes for children and families at the forefront of everything it does?by improving access and coordinating services for individuals with autism spectrum disorder, developmental delays, disabilities, and changing behavioural needs throughout their lifespan. Monarch House's board-certified behaviour analysts, speech-language pathologists, and occupational therapists work collaboratively and individually as required to deliver evidence-based services. Monarch House is committed to continuous learning and conducts research to advance understanding and provide the most effective services possible.
About Venn Growth Partners
Venn Growth Partners (venn) is a growth equity fund that partners with distinctive consumer, health care services, and education companies in North America with exceptional Founder CEOs and a relentless focus on delivering industry-leading outcomes for customers. venn operates with a core belief that a team of talented people from unique backgrounds, with shared values and the right incentives, will deliver differentiated outcomes. venn has built its team around this core belief and carefully selected each team member to deliver a partnership that will help Founder CEOs and their teams achieve profitable growth at maximum pace. For more information, please visit: https://venngp.com/.
About BDC Capital
BDC Capital is the investment arm of BDC, the bank for Canadian entrepreneurs. BDC Capital serves as a strategic partner to the country's most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage. Visit https://bdc.ca/capital.
Chelsea Ganam, Monarch House, 1 604-205-9204, [email protected]
SOURCE Monarch House
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