Clayton Associates' FCA III invests in Ardent Health Services

Clayton Associates said Monday that it has invested $2 million from its FCA Venture Partners III L.P. in Ardent Health Services.

Ardent is the former Behavioral Healthcare Corp., a Nashville-based operator psychiatric hospitals. This past summer, Ardent tapped ex-Columbia/HCA executive to be its chief executive, sold a majority stake to New York investment firm Welsh Carson Anderson & Stowe, and expanded its scope to acute care medical-surgical hospitals.

We "believe in their strategy of diversifying their behavioral hospital holdings by expanding into the medical/surgical space," Stuart McWhorter, managing partner of Clayton Associates, said in a release. Clayton Associates is a Franklin-based venture capital firm founded by hospital industry veteran Clayton McWhorter.

Ardent has 23 psychiatric hospitals and one medical-surgical hospital.