BayMark’s acquisition of SpecialCare incorporates the management of a new treatment modality into the Company’s expanding network of care for Opioid Use Disorder
LEWISVILLE, TX (November 2, 2018) — BayMark Health Services, a portfolio company of Webster Capital, announced the acquisition of SpecialCare Hospital Management based in St. Louis, Missouri. SpecialCare currently works with 46 acute care hospitals in 13 states, providing specialized inpatient stabilization and withdrawal management services for those suffering from the disease of addiction. Prior to the acquisition, BayMark operated 186 outpatient locations and is the largest company of its kind in North America treating those with Opioid Use Disorder.
“SpecialCare values our partnerships with our hospital clients as well as the lives of our patients in the communities we serve,” stated William A. Billings, Chief Executive Officer of SpecialCare. “We chose to merge with BayMark to allow us to meet the growing demands of our industry, and potentially expand the services we offer to those in need, through our hospital partnerships. BayMark’s values and standards of care reflect those of SpecialCare, making this merger an excellent fit.”
The opioid epidemic has been making headlines for some time as more than 115 Americans die each day of an opioid overdose and millions of Americans struggle with opioid use. While the science of addiction is similar for all people, their needs for treatment vary greatly. BayMark’s current offering of patient-focused services includes highly structured opioid treatment programs utilizing methadone or buprenorphine and office-based buprenorphine programs, both of which incorporate counseling as part of an individualized treatment plan. Additionally, outpatient withdrawal management services with naltrexone therapy and residential treatment are offered in select locations. All BayMark modalities offer localized recovery support services to address the unique needs of each patient.
David K. White, Ph.D., Chief Executive Officer of BayMark remarked, “As a specialty healthcare provider, BayMark’s priority is first and foremost to improve accessibility to evidence-based, high quality treatment options for patients struggling with Opioid Use Disorder and other addictions. Diversifying our continuum of care with new modalities in different settings helps us achieve this goal. SpecialCare has built a large network of management services and relationships with quality hospitals who share this same goal. We believe that integrating our network of programs with acute medical services wherever possible will benefit patients and improve accessibility to high quality care.”
SpecialCare Hospital Management will retain its name and much of its staff providing consistency for its partners and continuity of care for its patients. The priority will continue to be providing outstanding patient care and creating mutually beneficial relationships for our hospital partners.
Following the acquisition, BayMark will manage or operate a total of 209 programs; 146 Opioid Treatment Programs, 8 office-based buprenorphine treatment programs, 12 outpatient withdrawal management facilities, 46 inpatient withdrawal management programs and one residential treatment facility located across 32 states and the Canadian province of Ontario.
About BayMark Health Services
BayMark Health Services, headquartered in Lewisville, Texas, provides medication-assisted treatment to more than 45,000 patients in recovery from opioid use disorder. Our outpatient programs deliver medically supervised treatment, in a variety of modalities and settings, to meet the diverse needs of our patients who struggle with the use of prescription pain medication or other opiates. The BayMark continuum of patient- focused services includes highly structured opioid treatment programs utilizing methadone or buprenorphine and office-based buprenorphine programs, both of which incorporate counseling as part of an individualized treatment plan; as well as, ambulatory withdrawal management services with naltrexone therapy, residential treatment and recovery support services.
About Webster Capital
Founded in 2003, Webster Capital is a private equity firm that invests in the branded consumer and healthcare services industries and provides equity financing, expertise, and a broad contact network for management buyouts and growth capital. Webster is currently investing out of its fourth fund with $875 million of capital. For additional information on Webster Capital, please visit www.webstercapital.com.