Oakdale joins forces with Cygnet Healthcare
A YORKSHIRE company which supplies out-patient psychological therapies to customers including the NHS has joined forces with one of the largest suppliers of mental health services in the UK.
Harrogate-based Oakdale provides mental health services for Primary Care Trusts, specialist counselling and psychological services to organisations and their employees and private counselling and psychotherapy services.
It now becomes part of Surrey-based Cygnet Health Care and together the group will have a combined turnover of more than £70m and employ 1,100 staff.
Oakdale was established in 1998 and headed up by founder directors Lorian Rein and Zoe Croock.
Director Zoe Croock said: “We are delighted to be joining forces with Cygnet. This deal will allow us to meet the needs of our clients across the whole mental health spectrum, effectively providing a one-stop service for our corporate and NHS clients.”
Cygnet Health Care was founded in 1987 and has grown to be one of the largest suppliers of in-patient mental health services to the NHS.
The company operates 16 centres with more than 600 in-patient beds, 12 of which provide care for acutely ill psychiatric patients suffering from a broad range of psychological and emotional disorders.
Cygnet also runs Detox5, an drug rehabilitation centre in Harrogate and a residential care home for people with Autism and Asperger's Syndrome.
The deal strengthens Cygnet's position as market leader in mental health provision and will enable the group to offer services ranging from managed counselling services to psychiatric in-patient care.
John Hoar, commercial director of Cygnet Health Care, said: “This acquisition allows Cygnet to enhance its position in the mental health sector and reinforce our aim of providing an unrivalled mental healthcare pathway for both NHS and private patients. We are delighted to welcome the Oakdale team on board and look forward to working together for the benefit of all our patients.”
The advisors to the two companies were Lawrence Graham, Dechert and CW Harwood & Co.
