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Thursday, April 17, 2014

Bain Capital Buys Massachusetts Methadone Clinics

100 Dollars
Since the late ‘80’s private substance abuse treatment has become a big business; and like all big businesses they attract the attention of even bigger businesses. The private equity firm Bain Capital, owner of a number of methadone clinics in the United States, after acquiring the treatment conglomerate CRC Health, has been buying up treatment facilities across the country for over a decade. Despite an interesting track record with some named treatment facilities which included some untimely patient deaths in recent years, Bain recently purchased the largest chain of substance treatment facilities (methadone clinics) in Massachusetts, The Boston Globe reports.

Habit OPCO Inc., which has 13 methadone clinics in Massachusetts, was purchased through CRC Health, the nation’s largest provider of substance abuse treatment and behavioral health services, for $58 million. No matter which way an addict turns for help, their money will undoubtedly find its way into Bain Capital’s pockets. Many health experts feel that as the price of substance abuse treatment goes up, the quality of care goes down; huge firms like Bain Capital have no concern about patient welfare and success, they only appear to care about the bill being paid on time.

“The problem I find with some of the for-profit clinics is the absolute minimum required by law becomes the absolute maximum they’re willing to do for their patients,” says Dr. Kevin P. Hill, director of the Substance Abuse Consultation Service at McLean Hospital in Belmont, Massachusetts.

The addiction treatment industry is worth $7.7 billion, growing at a rate of about 2 percent annually, according to the newspaper article. Methadone treatment at Habit OPCO costs patients $135 a week. The $540 a month gives patients liquid methadone and access to healthcare professionals. Habit OPCO accepts private insurance, Medicaid, and cash.

Profits are not their main goal, according to Habit OPCO and CRC staff members. “Frankly, the way to make a lot of money in this particular business is to do it badly,” CRC’s Deputy Chief Clinical Officer for CRC Health Deni Carise said. “We’re just not going to do that.” Unfortunately, Carise’s promises fall on deaf ears when countless respected members of the treatment community are aware of CRC’s track record to date.
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