Ascend Health, backed by CHL Medical Partners, has sold to Universal Health Services for $500m.
JP Morgan acted as financial advisor, while Cravath, Swaine & Moore acted as legal advisor to UHS. Goldman, Sachs acted as financial advisor to Ascend, while Cahill Gordon & Reindel was legal advisor.
In 2007 Ascend Health raised $20.1m in Series B financing in Polaris Venture Partners led round, with backing from CHL Medical Partners, Three Arch Partners and individual investors.