- Sep 26, 2000
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http://www.reformer.com/morelocalne...tal-company-buys-brattleboro-methadone-clinic
Bain Capital company buys Brattleboro methadone clinic
Brattleboro's opiate treatment center is the latest acquisition in a nationwide methadone clinic empire being assembled by a holding of private equity giant Bain Capital.
CRC Health Group, owned by the Boston-based firm founded by 2012 GOP presidential candidate Mitt Romney, has purchased Habit OPCO, the East Coast company that runs the Brattleboro methadone clinic and another in West Lebanon, N.H.
CRC on Feb. 28 purchased all 22 Habit OPCO facilities, in Vermont, New Hampshire, Massachusetts, Pennsylvania and New Jersey for $58 million, said Jonathan Ciampi, CRC vice president of marketing and business development.
Bain Capital, which Romney co-founded in 1984 and where he subsequently made his fortune, acquired CRC in 2006, according to Bain's website.
CRC is a for-profit company and calls itself the nation's largest provider of addiction treatment services. The Cupertino, Calif., based company owns 154 treatment facilities across the country and sees 30,000 patients a day, its website says.
CRC also operates eating disorder programs, boarding schools and wilderness camps.
CRC founder Barry Karlin is also the chairman and CEO of Prospira PainCare, a chain of pain management clinics across the country.
A Habit OPCO official Monday said the acquisition will not affect treatment at the hub, one of five methadone clinics in Vermont.
"Everything operates as-is," said Tracey Nicolosi, director of clinical services for Habit OPCO.
Nicolosi said the purchase was simply an acquisition of Habit OPCO stock.
Wow. I never thought of methadone clinics, or many of Bains acquisitions as targets for monopoly building funds like Bain.
Bain Capital company buys Brattleboro methadone clinic
Brattleboro's opiate treatment center is the latest acquisition in a nationwide methadone clinic empire being assembled by a holding of private equity giant Bain Capital.
CRC Health Group, owned by the Boston-based firm founded by 2012 GOP presidential candidate Mitt Romney, has purchased Habit OPCO, the East Coast company that runs the Brattleboro methadone clinic and another in West Lebanon, N.H.
CRC on Feb. 28 purchased all 22 Habit OPCO facilities, in Vermont, New Hampshire, Massachusetts, Pennsylvania and New Jersey for $58 million, said Jonathan Ciampi, CRC vice president of marketing and business development.
Bain Capital, which Romney co-founded in 1984 and where he subsequently made his fortune, acquired CRC in 2006, according to Bain's website.
CRC is a for-profit company and calls itself the nation's largest provider of addiction treatment services. The Cupertino, Calif., based company owns 154 treatment facilities across the country and sees 30,000 patients a day, its website says.
CRC also operates eating disorder programs, boarding schools and wilderness camps.
CRC founder Barry Karlin is also the chairman and CEO of Prospira PainCare, a chain of pain management clinics across the country.
A Habit OPCO official Monday said the acquisition will not affect treatment at the hub, one of five methadone clinics in Vermont.
"Everything operates as-is," said Tracey Nicolosi, director of clinical services for Habit OPCO.
Nicolosi said the purchase was simply an acquisition of Habit OPCO stock.
Wow. I never thought of methadone clinics, or many of Bains acquisitions as targets for monopoly building funds like Bain.
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