Clearview Capital has acquired Scottsdale, Arizona-based Community Medical Services Holdings, a provider of medication-assisted treatment programs for patients suffering from substance use disorders. No financial terms were disclosed.
PRESS RELEASE
Stamford, CT, April 6, 2018 — Clearview Capital Fund III, LP (“Fund III”) announced today the acquisition, in partnership with management, of Community Medical Services Holdings, LLC (“CMS” or the “Company”). The transaction closed on March 30, 2018.
Headquartered in Scottsdale, AZ, CMS is a rapidly growing provider of medication-assisted treatment (“MAT”) programs for patients suffering from substance use disorders. Operating across four states, the Company provides services to more than 4,000 individuals from 14 comprehensive treatment centers, including the nation’s first 24-hour Opioid Treatment Program (“OTP”). Fund III partnered with management to acquire the business from its inactive majority owners, who did not maintain an ongoing stake in the Company. Nick Stavros, the Company’s CEO, will continue to lead the management team and maintain ownership in the Company.
“Our team is thrilled to partner with Clearview Capital to further accelerate our growth trajectory,” said Mr. Stavros. “Clearview has established a successful track record in healthcare services, while maintaining a strict commitment to providing first-class patient care, which perfectly aligns with our company’s mission and core values. We look forward to investing in our infrastructure, technology, people and communities to continue our goal of expanding treatment access to as many individuals and families as possible.”
“CMS has distinguished itself as a clear leader in the MAT field, and Nick and the CMS team
have done a tremendous job laying the groundwork over the last several years to support continued growth,” said Matt Blevins, Principal of Clearview Capital. “The opioid epidemic continues to ravage communities across the nation and our partnership with the CMS team will seek to be part of the solution through the opening of additional programs and expansion of services across the country. “
“We are excited to be working with the CMS team,” added Calvin Neider, Managing Partner and co-Founder of Clearview Capital. “The idea that substance use disorders should be treated like any other chronic condition is finally gaining acceptance in the medical community, while
evidence continues to demonstrate the efficacy of using MAT to combat opioid dependency.
We will look to grow CMS through the opening of new clinics, as well as through complementary add-on acquisitions.”
CMS is the tenth platform investment in Clearview Capital Fund III, LP, a $325 million committed fund raised in 2013. Clearview Capital sourced the transaction from Quarton International, who advised the seller.
Clearview Capital’s other holdings include Mudlick Mail, LLC, a data-driven and related marketing solutions provider; Nielsen-Kellerman Co., a manufacturer of premium environmental 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; Northwest Cosmetic Laboratories, LLC, 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.
Source: https://www.pehub.com/2018/04/clearview-capital-buys-community-medical-service-holdings/
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