Nautic Partners has acquired Reliant Hospital Partners, an operator of inpatient rehabilitation hospitals. Equity financing for the transaction was provided through the Nautic Partners VI fund. Michael Brohm has been appointed as Reliant's new chairman and CEO. Nautic manages over $2.5 billion of assets and targets equity investments of $25 million to $75 million.
Since the beginning of 2007, 46 PE investors have invested in 55 companies primarily engaged in the Hospitals/Inpatient Services industry, according to the PitchBook Platform. Deal activity in the industry was revived last year with 16 completed deals, up from only 5 during 2009. 2010's total count even topped 2008's 13 completed deals and was just a few short of 2007's 19. 52% of the deals since the start of 2007 have been add-ons, indicating that PE investors are spending a significant amount of effort acquisitively growing their portfolio companies in the industry, as opposed to only acquiring new platform companies. Of the 46 PE investors recently active in the Hospitals/Inpatient Services industry, the most active include The Blackstone Group (5 deals), CCMP Capital Advisors (5) and Metalmark Capital (4).