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Bain Capital paying $720M for CRC Health

SAN JOSE, Calif., Oct. 13 (UPI) -- Bain Capital will pay $720 million to buy California-based CRC Health Group, American City Business Journals said Thursday.

CRC, the biggest U.S. provider of drug and alcohol treatment services, treating more than 20,000 people daily in 22 states, runs more than 90 residential, outpatient and opiate treatment centers.

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CRC's shareholders were advised by J.P. Morgan Securities Inc. and Merrill Lynch in the transaction.

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