|Addiction Treatment Industry Newswire|
|12/10/2013 –ATIN – In a major solidification of its position as the nation’s largest specialty opiate addiction treatment clinic operator, CRC Health Corp has purchased Habit OPCO for $58M in cash. Founded in 1985, Habit OPCO has grown into the fourth largest opiate clinic company with 22 facilities located in five states, Massachusetts, Vermont, New Jersey, New Hampshire and Pennsylvania. In its 3Q 10Q filing with the SEC last month, CRC implied its expects Habit OPCO to add approximately $43M in annual revenues with $11M in adjusted pro forma EBITDA (cash flow), a key number given the highly leveraged state of the CRC balance sheet.|
By Far Nation’s Largest Methadone Clinic Operator
With the addition of Habit OPCO facilities to CRC’s already large number of clinics scattered around the nation, CRC Health Corp will now be by far the nation’s largest distributor of medications like methadone and Suboxone with 80 specialty opiate clinics. The CRC/Habit OPCO deal may put considerable pressure on other opiate clinic operators such as Colonial Management and Medmark to bulk up with clinic merger deals of their own.
First Clinic in Boston
Habit OPCO opened its first in clinic in Boston in 1985 and has grown rapidly since with innovations like being the first to offer opiate treatment services in mobile clinics.
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