Clearview Capital has acquired Premiere Care and Maintenance and Recovery Services, both of which are providers of medication-assisted treatment for patients suffering with opioid use disorder. The seller of both companies was its former owner Community Medical Services. No financial terms were disclosed.
Stamford, CT, November 20, 2018 — 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 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.”
CMS is a platform investment in Clearview Capital Fund III, LP, a $325 million committed fund raised in 2013. Holdings in funds managed by Clearview Capital include Apothecare Pharmacy, LLC, an institutional pharmacy targeting the behavioral health sector; Community Medical Services Holdings, LLC, a provider of medication-assisted treatment programs for patients suffering from substance use disorders; Mudlick Mail, LLC, a data-driven and related marketing solutions provider; Nielsen-Kellerman Co., a designer and manufacturer of premium environmental and athletic performance measurement instruments; Wilson Orchard and Vineyard Supply, LLC, a distributor of orchard and vineyard equipment, irrigation systems, and related agricultural supplies; Controlled Products, LLC, a manufacturer and distributor of premium quality synthetic turf; Advanced Medical Personnel Services, Inc., a provider of nationwide healthcare staffing solutions; Elevation Labs f.k.a. Northwest Cosmetic Labs, a formulator and manufacturer of cosmetic and skin care products for prestige brands; Derby Building Products, Inc. f.k.a. Novik, Inc., an innovator, manufacturer and distributor of polymer building products; Child Health Holdings, Inc. d.b.a. Pediatric Health Choice, the country’s largest provider of prescribed pediatric extended care (“PPEC”) centers for medically complex children; and Pyramid Healthcare, Inc., a provider of substance use disorder and mental health treatment programs for adults and adolescents.