PITTSBURGH, November 27, 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.
The Braff Group originated the transaction and served as the exclusive mergers and acquisitions advisor to Premier Care.
Premier Care operates seven opioid treatment programs across Ohio, Indiana, Michigan, and Wisconsin with an average daily patient census of nearly 3,000. 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.”
Ted Jordan, The Braff Group Managing Director that headed up the deal team for Premier Care, added, “This transaction represents a continuation of the consolidation in the medication-assisted treatment sector that has been underway for years but has lately been reinforced by the unabated opioid crisis. Numerous buyers and investors are actively pursuing acquisition candidates that offer quality, evidence-based care to a population that desperately needs access to treatment.”
About The Braff Group
The Braff Group is the leading health care services mergers and acquisitions advisory firm with a team of industry professionals focused exclusively on behavioral health care, including substance use disorder, eating disorders, mental health, autism services, I/DD, and acquired brain injury.
Celebrating its 20-year anniversary, The Braff Group has completed more than 320 transactions. According to Thomson Reuters, The Braff Group has repeatedly been ranked among the top five health care mergers and acquisitions advisory firms.