Civitas Solutions Acquires Three Massachusetts Adult Day Health (ADH) Centers
Transaction Enlarges Civitas’ ADH Programs in Boston; Provides
Expansion into Worcester, New England’s 2nd
Largest City
BOSTON–(BUSINESS WIRE)–Civitas Solutions, Inc. (NYSE: CIVI) today announced the acquisition of
three Massachusetts Adult Day Health (ADH) centers. The Dacha and Winter
Gardens centers, located in the Brighton neighborhood of the City of
Boston, enlarge Civitas’ ADH programming in Boston. The third center,
Renaissance, operates in the City of Worcester, and provides Civitas
entry into the ADH market in New England’s second largest city. The
transaction closed on February 1 during the Company’s quiet period prior
to the release this afternoon of financial results for the first quarter
of fiscal 2016.
Each of three centers acquired provide person-centered day services to
elders, including medication management and nutritional and nursing
support. The three centers have total capacity to serve approximately
410 elders. The Boston centers are currently operating at capacity,
while the Worcester center, which is the newest of three centers, has
some room to grow before reaching its capacity. The three centers
generated revenues of approximately $8.7 million for the 12-month period
prior to the acquisition.
“We entered the adjacent ADH market to establish another platform from
which we can grow—both organically and through selective acquisitions,”
said Bruce Nardella, president and CEO of Civitas Solutions. “The ADH
market is large, growing, highly-fragmented, and a great complement to
our network of high-quality and cost-effective community-based services.
We remain very excited about the future of our ADH service line and its
potential to meaningfully contribute to our Company’s mission, growth
and development in the years ahead.”
Civitas entered the $6.2 billion ADH market with its September 2014
acquisition of the Mass Adult Day Health Alliance. With the acquisition
of these three additional ADH centers, Civitas is now operating 11
centers in Massachusetts, including two de novo centers opened in 2014,
and serving approximately 1,900 elders. In addition, two new centers are
currently under construction in the cities of Brockton and Malden,
Massachusetts with target opening dates in the fourth quarter of fiscal
2016.
About Civitas
Civitas Solutions, Inc. is the leading national provider of home- and
community-based health and human services to must-serve individuals with
intellectual, developmental, physical or behavioral disabilities and
other special needs. Since our founding in 1980, we have evolved from a
single residential program to a diversified national network offering an
array of quality services in 35 states.
Contacts
Civitas Solutions, Inc.
Dwight Robson, 617-790-4800
Chief
Public Strategy and Marketing Officer
dwight.robson@civitas-solutions.com
