The deal follows Psychiatric Solutions' purchase of two other Brown School hospitals in September. They allow the Brown Schools to maintain its focus on children, according to Marguerite Sallee, the company's president and CEO. She said an increasing number of adult patients at the NeuroRehabilitation Center make it a better fit with Psychiatric Solutions.
Now headquartered in Nashville, the Brown Schools organization was founded in San Marcos and was based in Austin. It still has eight facilities in Texas, including several in the Austin area. Avondale Partners LLC served as the investment adviser to the Brown Schools in the transaction. Psychiatric Solutions, also based in Nashville, provides consulting and management services to provider of mental health care.
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