NEWS & PRESS
WEBSTER CAPITAL ACQUIRES BAY AREA ADDICTION RESEARCH & TREATMENT
Waltham, MA ( June 30, 2015) -- Webster Capital is pleased to announce the acquisition Bay Area Addiction Research & Treatment (the “Company” or “BAART”), the 6th largest opioid treatment provider in the United States.
Headquartered in San Francisco, California, BAART provides comprehensive outpatient opioid treatment services to its addicted patient base through 22 locations in five states (16 CA, 3 VT, 1 AZ, 1 NC, 1 NB). The Company was founded in 1977 by the Kletter family and grew to 11 locations by the 1990s when the Company was passed to the Kletter children: Jason, Evan, and Michelle. Under their guidance and with the assistance of CFO Ed Barisone, the Company has doubled its number of locations, expanded to four new states, and continued to grow. BAART experienced robust growth recently due to the epidemic of opioid and heroin abuse across the country and the expansion of the Affordable Care Act.
"We are excited to partner with the Kletters to help address the growing epidemic of opioid and heroin abuse across the country," said David Malm, Co-Managing Partner and Head of Healthcare Services at Webster Capital. "As one of the largest opioid treatment providers in the country, BAART has developed a reputation in the industry for quality care and is in a position to scale operations across multiple states." President of BAART, Jason Kletter, said, “We are looking forward to working with Webster Capital. The Webster team has deep healthcare experience particularly within the behavioral health space, making them an ideal partner to further enhance quality and compliance and expand evidence-based treatment practices with a patient-centered focus." CEO of BAART, Evan Kletter, added, "Throughout the process, Webster displayed a true commitment to the highest levels of clinical care, showing us that they are the right partners from a fit perspective."
About Webster Capital
Founded in 2003, Webster Capital is a private equity firm with over $600 million of committed capital which invests in the branded consumer and healthcare services industries. Webster Capital provides equity financing, expertise and a broad contact network for management buyouts and growth capital.
About BAART Programs
Led by the Kletter family and headquartered in San Francisco, California, BAART provides outpatient opioid treatment services to its addicted patient base through 22 locations in five states (16 CA, 3 VT, 1 AZ, 1 NC, 1 NB). The Company is the 6th largest provider of opioid treatment services in the country. For additional information on BAART, please visit www.baartprograms.com.