BAART, a portfolio company of Webster Capital, has acquired MedMark Services, an opioid treatment provider. MedMark has been a portfolio company of Capital Resource Partners since December 2008. CHL Medical Partners is also an investor in the company .
MedMark provides outpatient opioid treatment services to its addicted patient base through 20 outpatient locations in California, Georgia, Maryland and Texas. The company is headquartered north of Dallas in Lewisville, TX (www.medmark.com).
BAART (Bay Area Addiction Research and Treatment) was acquired by Webster Capital in June 2015. BAART operates 22 outpatient opioid treatment service clinics in California, Arizona, Nebraska, North Carolina, and Vermont. BAART’s clinics provide both methadone treatment and counseling services to assist patients with opioid addictions. The company was founded in 1977 and is based in San Francisco (www.baartprograms.com).
The combination of MedMark and BAART will create the third largest opioid treatment provider (OTP) in the United States. “We are excited to partner with MedMark to continue combating the growing opioid and heroin crisis in the United States,” said David Malm, Co-Managing Partner and Head of Healthcare Services at Webster Capital. “The combination of MedMark and BAART will create the third largest OTP platform in the country, putting us in an excellent position to continue scaling operations across multiple states.”
Webster Capital invests in branded consumer, business- to-business, and healthcare services companies with revenues of $20 million to $100 million and EBITDAs from $2 million to $15 million. Transaction values typically range from $30 million to $100 million. The firm was founded in 2003 and is based in Waltham, MA (www.webstercapital.com).
Capital Resource Partners invests in lower middle market companies that have positive cash flow and revenues of no more than $50 million. Sectors of interest include business services; consumer products and services; healthcare services; proprietary industrial products and services; and software and information services. The firm is headquartered in Boston (www.crp.com).
CHL Medical Partners specializes in making investments in the healthcare sector. The firm is headquartered in Stamford, CT (www.chlmedical.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 10-13-15