Drug Deal
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Updated: 8:39 PM Oct 25, 2005
Drug Deal
WTAP News
Seven of West Virginia's eight methadone clinics are being sold for about $36 million.
Posted: 8:30 PM Oct 25, 2005
Reporter: Denise Alex
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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.

Methadone is a synthetic narcotic used to treat people addicted to opium-based drugs such as heroin, morphine and oxycontin and wean them off those drugs.