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G&G DENIES TAKEOVER RUMOR, FLORIDA'S ARC CLOSES PDF  | Print |  E-mail
Addiction Treatment Industry Newswire - Newswires

 03/09/2012 -ATIN- Holistic Addiction Treatment Program, a 62-bed Florida Model program better known in the industry as Holistic G&G, is denying rumors of an impending takeover of the Miami-based alcohol rehab, drug rehab addiction treatment center. "We are constantly getting calls about about rumors that CRC [CRC Health Group, the addiction drug rehab that has hundreds of facilities nationwide] or someone else has acquired us," says Adam Fuller, marketing chief at Holistic G&G. "Our CEO John Giordano has been concentrating on clinical innovation." Nevertheless, one source, who would not reveal their source, insisted a deal is in the works that will be announced in April, not with CRC or some other professional investment group, but rather with another addiction alcohol rehab and drug rehab center operator. While the recent economic downturn exposed some of the poorly managed, marginal South Florida addictions players, especially those that relied exclusively on private pay, by and large the recent economic downturn has not affected the regional market, one of the largest private addiction treatment drug rehab hubs in the nation. Among the downturn's victims was Delray Beach's Advanced Recovery Center, which was acquired in 2005 for $3.5 million by Chaz Cabela - of the billionaire Cabela outdoors equipment fortune. But Cabela was unable to make a go of it, and he says he closed ARC in 2010. Cabela still owns a number of sober home properties, as well as an entire apartment complex part of which used to house clients while adopting the Florida Model at ARC. Cabela says he is still involved in the addictions drug rehab business.

 

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