Buyer: Clearview Capital
Seller: Premier Care and also Maintenance & Recovery Services
Sector: Behavioral Health, Outpatient Recovery, Addiction Recovery, Rehab
Clearview Capital Fund III, LP (“Fund III”) announced today the acquisitions of Premier Care and Maintenance and Recovery Services (“MARS”), two providers of medication-assisted treatment for patients suffering with opioid use disorder, by its portfolio company, Community Medical Services (“CMS”). The transactions closed on November 1, 2018.
Premier Care operates seven opioid treatment programs (“OTPs”) across Ohio, Indiana, Michigan and Wisconsin with an average daily patient census (“ADC”) of nearly 3,000, while MARS operates four OTPs in Texas with an ADC nearing 800. Combined with CMS, the nationwide platform is now providing treatment to more than 9,300 patients across 28 clinics on a daily basis.
“We are thrilled to have the opportunity to partner with the Premier Care and MARS teams to expand access to treatment. The opioid crisis in this country has worsened over the last year, in spite of all of the efforts to try to solve the crisis. One of the primary problems we’ve noted is that access to appropriate care has expanded more slowly than the rate of increase in overdose deaths,” said CMS CEO, Nick Stavros. “Accordingly, we have appreciated the opportunity to work with Clearview Capital to find target acquisitions that will help us gain footholds in – and expand across – new states that are in desperate need of help and Texas, Indiana, Ohio, Michigan, and Wisconsin are at the top of the list.”
“With the acquisitions of Premier Care and MARS, together with CMS’s management team, we have successfully expanded the company’s footprint from four states to nine in Fund III’s first seven months of ownership, while making substantial infrastructure investments to support the more than doubling of the number of patients accessing treatment across the company’s platform on a daily basis,” said Matt Blevins, Partner of Clearview Capital. “We will continue to pursue attractive add-on opportunities for CMS nationwide to augment the company’s rapid de novo expansion.”
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