The next big thing?

[proverbialwisdom]

http://vtdigger.org/2014/03/24/bain-capital-company-buys-brattleboro-methadone-clinic/

Bain Capital Company Buys Brattleboro Methadone Clinic

LAURA KRANTZ MAR. 24, 2014, 8:27 PM

Brattleboro’s opiate treatment center is the latest acquisition in a nationwide methadone clinic empire being assembled by a holding of private equity giant Bain Capital.

CRC Health Group, owned by (Bain) the Boston-based firm founded by 2012 GOP presidential candidate Mitt Romney, has purchased Habit OPCO, the East Coast company that runs the Brattleboro methadone clinic and another in West Lebanon, N.H.

CRC on Feb. 28 purchased all 22 Habit OPCO facilities in Vermont, New Hampshire, Massachusetts, Pennsylvania and New Jersey for $58 million, said Jonathan Ciampi, CRC vice president of marketing and business development.

Bain Capital, which Romney co-founded in 1984 and where he subsequently made his fortune, acquired CRC in 2006, according to Bain’s website.

CRC is a for-profit company and calls itself the nation’s largest provider of addiction treatment services. The Cupertino, Calif., based company owns 154 treatment facilities across the country and sees 30,000 patients a day, its website says.

CRC also operates eating disorder programs, boarding schools and wilderness camps.

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Since founding CRC in 1995, CRC has bought 82 chemical dependency treatment facilities in 22 states that employ more than 2,000 staff, according to CRC’s website.

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Bain Capital holds about $70 billion in assets under management, according to its website. Among its other health care investments are Hospital Corporation of America and Lake Region Medical.

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[siligut]

1. People in need are more susceptible to persuasion

Lots of money and conversions to be made.

[siligut]

2. People in need are also easier to take advantage of

I worked for a good beneficial company, but after a Mormon hedge fund got involved, the place went to absolute hell. One friend who stayed on ended up so depressed she went on medication.