2 private equity firms buy CHG Health Services
Two private equity companies have acquired CHG Health Services. The current management of the Salt Lake City-based health care staffing services provider is keeping a larger stake in the company.
Ares Management LLC and Leonard Green and Partners bought control of CHG from Boston-based private company J.W. Child Associates late last month, Leslie Snavely, CHG Vice President of Marketing said.
The company did not disclose the terms of the deal. Matthew Peterson, Vice President of the Utah Fund of Funds, which helped to bring Ares and CHG together said, “Ares paid “hundreds of millions dollars” for its stake.
Utah Funds of Funds said the Ares investment will support 820 jobs in Utah. CHG Health also employs close to 600 people in six other U.S. offices.
CHG helps hospitals and health care companies hire physicians, nurses and other healthcare professionals. Ares has $54 billion of investor capital under management and Leonard Green manages $15 billion.
Senior Partner at Ares, Bennett Rosenthal said, “We are delighted to join Leonard Green in supporting CHG’s talented leadership team as long-term investors in the company.”
CHG Healthcare Services is the largest healthcare staffing companies providing service offering including temporary and permanent placement of physicians, allied health professionals and nurse to hospitals and healthcare companies in 50 states.
