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Drug Deal......
Seven of West Virginia's eight methadone clinics are being sold for about $36 million.
That's according to the state health care authority in Charleston.
Boston-based Bain Capital has agreed to buy CRC Health Group of Cupertino, California, which now owns the clinics for $720 million. CRC operates 90 methadone facilities in 21 states, including West Virginia.
In December 2003, CRC bought National Specialty Clinics for about $100 million. National Specialty operated 17 clinics in six states, including Beckley, Charleston, Clarksburg, Huntington, Parkersburg, Wheeling and Williamson. The West Virginia clinics sold for $24 million.
The entire transaction is expected to be complete by early 2006. The West Virginia sale is expected to be complete within two months after the health care authority approves it.
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