Pinnacle Treatment Centers Acquires Four Programs in Virginia’s Tidewater Region
Newport News, VA (April 22, 2019) – Pinnacle Treatment Centers (PTC), a leader in providing accessible treatment for substance use disorders, announced today it has acquired four outpatient opioid treatment programs within the state of Virginia, including one office-based opioid treatment program (OBOT) and three opioid treatment programs (OTPs) for adult men and women.
The three OTPs are known as American Addiction Treatment Center (AATC), located in Hayes, Newport News, and Williamsburg. The OBOT is Addiction Medicine Specialists Inc., located in Newport News. All four programs are planning to accept Medicaid in the near future.
Pinnacle is one of a select few treatment facilities to provide underserved communities with affordable substance abuse treatment and the option of outpatient care. This model of care empowers patients to take control of their treatment as it affords them the opportunity to maintain employment, school obligations and family commitments while getting the treatment necessary to address their recovery.
According to the Virginia Department of Health Chief Medical Examiners report, approximately 1,100 Virginians are killed each year by fatal heroin or fentanyl use.
Drug overdose — primarily caused by opioid use — remains the leading cause of unnatural death in Virginia since 2012. Preventable drug overdoses in Virginia continue to outpace gun-related violence and motor vehicle accidents since 2012.
“Given the opioid epidemic in Richmond and throughout the state of Virginia, there is a drastic need for treatment, and our company is committed to bringing affordable care directly into the community to help solve this crisis.” Joseph Pritchard, CEO of Pinnacle Treatment Centers, who made his personal journey through recovery and is now dedicated to helping others, recognizes the need for outpatient programs that are designed to offer support in managing stress and provide patients with relapse prevention strategies, while connecting them with community support.
Areas that have been hit the hardest by the opioid epidemic include Richmond and parts of Southwest Virginia. In a recent Richmond Times-Dispatch article State Health Commissioner, M. Norman Oliver stated “Virginians are dealing with an addiction epidemic driven by a lack of jobs, lack of affordable housing and lack of transportation.” Pinnacle’s goal is to provide accessible treatment to these underserved communities struggling to break the cycle of addiction.
Timothy O’Connell, MD, FASAM, the founder of these programs, will remain on staff along with the other clinical and medical staff, as Pinnacle’s Regional Medical Director. An accomplished physician who specializes in addiction medicine, Dr. O’Connell acknowledges the need for affordable treatment options within the community, “As a long-standing practitioner of addiction medicine, I value Pinnacle Treatment Centers’ years of experience and knowledge in treating all addictions. Now under the Pinnacle umbrella, I am proud to offer our services to all patients who need treatment. Our innovative approach to rehabilitation sets us apart and makes vital treatments available and affordable to at-risk communities. Pinnacle is desperately needed in the State of Virginia.” Dr. O’Connell is a Fellow of the American Society of Addiction Medicine and board certified with the Board of Preventive Medicine. The OTPs offer medication-assisted treatment utilizing methadone and buprenorphine, medically-assisted detox, and individual, group and family therapy with flexible day and evening hours.
Honigman LLP and Polsinelli PC served as legal advisors to Pinnacle. Golub Capital provided financing for the transaction. Pinnacle Treatment Centers is a portfolio company of Linden Capital Partners.
About Pinnacle Treatment Centers
Pinnacle Treatment Centers is a leading comprehensive provider of substance abuse treatment services to individuals that are addicted to drugs and / or alcohol. Founded in 2006, the Company has grown into an organization that operates 60 substance abuse treatment facilities across 6 states. Pinnacle treats over 13,000 people daily and provides a full continuum of care, including detoxification, residential, outpatient, and transitional living programs. Treatment includes treating the individual’s physical, spiritual, emotional, and psychological selves. Pinnacle is CARF accredited and all locations include physicians, nurses, clinicians, administrative, and support staff. For more information please visit www.PinnacleTreatment.com.
About Linden Capital Partners
Linden Capital Partners is a Chicago-based private equity firm focused exclusively on investing in the healthcare industry. Linden’s strategy is based upon three elements: i) healthcare specialization, ii) integrated private equity and operating expertise, and iii) strategic relationships with large corporations. Linden invests in middle market platforms across the medical products, specialty distribution, pharmaceutical, and services segments of healthcare. For more information, please visit www.lindenllc.com.