Universal Health Services Acquires AscendHealth for $500,000,000
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280 Madison Avenue New York, NY 10016
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The AscendHealth Corporation is a newly established behavioral healthcare company whose President and CEO, Richard Kresch, M. D., has maintained a successful 30 year leadership and entrepreneurial record in both the not-for-profit and proprietary sectors. Dr. Kresch most recently built and sold Heartland Health Developments, LLC, a chain of psychiatric hospitals and behavioral healthcare management operations.
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Universal Health said it is also taking on $17 million in debt held by Ascend as part of the deal. Universal Health owns and runs 231 hospitals.
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