Kolmac Outpatient Recovery Centers Announces Merger with Concerted Care Group
NEW YORK, July 14, 2021 /PRNewswire/ -- Kolmac Outpatient Recovery Centers ("Kolmac") announced today that it has completed a merger with Concerted Care Group ("CCG"). Through the combination with CCG, Kolmac, which has historically focused on serving the working insured population, expands its services to treat all individuals, regardless of insurance type, with a continued commitment to superior quality and outcomes. Terms of the transaction were not disclosed.
Kolmac is a Mid-Atlantic based provider of outpatient addiction treatment that combines psychosocial services with medication assisted therapy to effectively treat a patient's substance use disorder and co-occurring psychiatric disorders over a long-term period in a low-cost setting. CCG is a Maryland based provider of outpatient integrated behavioral health services to those with substance use disorder and mental health conditions, focused on treating the whole person, not just the chemical dependency of addiction.
WindRose Health Investors, LLC ("WindRose"), a healthcare-focused private equity firm and lead investor in Kolmac, was joined by Inclusive Capital Partners ("Inclusive Capital"), a San Francisco-based investment firm, to effectuate the merger and provide additional capital to support future growth. With WindRose's and Inclusive Capital's support, the combined business will be able to open sites in new markets, expand its outpatient services to treat more patients, and increase its market share within its existing markets.
Anton Kuznetsov, CCG's Chief Executive Officer, will lead the combined business and drive the growth strategy of integrating the highly complementary offerings of Kolmac and CCG to care for more patients in existing and new markets. "We are excited to partner with such a well-respected provider as Kolmac who shares our same vision for providing high quality, highly effective treatment to all patients in the outpatient setting," said Mr. Kuznetsov. "WindRose's strong network of relationships and operational resources will be incredibly valuable as we work to increase access to effective, evidence-based care."
"We're thrilled for the future of the combined business," said Noah Nordheimer, Founder of CCG and Principal at APN Capital. "It was important to us to find a partner that would continue to not just treat the chemical dependency of addiction but also the behaviors and life circumstances that accompany, enable, and perpetuate addiction. Under Anton's guidance, I'm confident CCG and Kolmac's patients will continue to receive evidence-backed world-class care."
"As a part of Kolmac's growth strategy, we identified CCG as a very attractive, complementary business that would greatly accelerate Kolmac's entrance into the government pay market within Kolmac's existing geographic footprint," said Curtis Lane, Founding Partner of WindRose. "We believe that the combined business is a unique platform that provides the complete continuum of substance use disorder care entirely in the outpatient setting to all individuals, regardless of income levels or treatment preferences."
Northborne Partners acted as financial advisor to Concerted Care Group. BMO Sponsor Finance served as the sole lead arranger for the senior credit facilities. McDermott Will & Emery LLP acted as legal advisor to WindRose and Kolmac. Zarren Law Group and Reed Smith LLP acted as legal advisors to Concerted Care Group.
About Kolmac Outpatient Recovery Centers
Kolmac Outpatient Recovery Centers ("Kolmac") is a network of intensive outpatient (IOP) addiction treatment centers in Maryland, Pennsylvania, Virginia, and Washington, DC. For over 40 years, Kolmac has provided increased access to treatment, greater program flexibility, strong patient outcomes, and dramatically lower costs compared to traditional inpatient programs. In addition to providing all three phases of treatment, including detoxification, rehabilitation, and continuing care, Kolmac also offers treatment for co-occurring psychiatric disorders, as well as education and resources for family members and referring professionals.
For more information, please visit www.kolmac.com.
About Concerted Care Group
Founded in 2015, Concerted Care Group ("CCG") provides outpatient integrated behavioral health services to those with substance use disorder and mental health conditions across its four sites in Maryland. CCG offers a unique care delivery model focused on treating the whole person, not just the chemical dependency of addiction. The Company integrates medical, psychological, economic, and social expertise to provide holistic treatment to meet patients' multi-faceted diagnoses and deliver improved patient outcomes and experiences.
For more information, please visit www.concertedcaregroup.com.
About WindRose Health Investors
WindRose Health Investors, LLC ("WindRose") makes equity investments in companies that operate within the services sectors of the healthcare industry. The firm focuses on companies with profitable business models and a demonstrated ability to deliver cost-effective solutions. WindRose manages over $1.2 billion in investments and is currently investing out of its fifth fund. WindRose is based in New York City and invests in companies throughout the United States.
For more information, please email WindRose at [email protected].
About Inclusive Capital Partners
Inclusive Capital Partners is a San Francisco-based investment firm focused on increasing shareholder value and promoting sound environmental, social and governance practices through active, return-driven engagement.
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SOURCE WindRose Health Investors, LLC