RICHMOND, Va., Aug. 31, 2020 /PRNewswire/ -- On August 28, 2020, Averhealth, a provider of substance use monitoring and treatment services tailored to the unique needs of courts and social service agencies, along with the support of Five Arrows Capital Partners, announced the acquisition of the drug testing services of Treatment Assessment Screening Center (TASC), a private, nonprofit 501(c)(3) headquartered in Phoenix, Arizona.
Since 1977, TASC has developed and implemented innovative drug testing and behavioral health programs. With this acquisition, Averhealth will ensure continuity of substance use monitoring services for TASC's clients and extend enhanced services to TASC's existing customer-base in Arizona, Texas, and Utah.
"This acquisition further advances Averhealth's strategy of uniting people, technology, and science to create and deliver the smartest, most innovative solutions for substance use disorder monitoring and recovery. Together, we will help more individuals safely cross the intersection of criminal justice and healthcare by supporting them to develop lasting coping and refusal skills to new use events, enhancing public safety, and equipping courts and social service agencies with intelligent data and automation," stated Jason Herzog, CEO of Averhealth.
"Averhealth and TASC are a natural fit – the Averhealth mission of "reclaiming lives, uniting families and strengthening communities" perfectly aligns with TASC's mission and values of "together, transforming lives with purpose, passion, and proven practices for healthy people, healthy communities and a healthy world. Our goal was to ensure a continuity of care and provide a good home for TASC employees and Averhealth helped us obtain this goal," said Douglas Kramer, CEO of TASC.
"The combination of Averhealth and TASC is an ideal fit with the management team's long-term growth strategy for the business. This acquisition enhances Averhealth's innovative and differentiated marketplace solutions and broadens the company's ability to help more individuals overcome addiction," stated Michael Langer, Managing Director of Five Arrows Capital Partners.
Since 1995, Averhealth has specialized in providing substance use monitoring services tailored to the unique needs of judicial programs that operate at the holistic intersection of justice-involved and behavioral health. Today, Averhealth serves more than 350,000 clients across 30 states. Every element of the Averhealth solution incorporates evidence-based practices, positioning programs and clients for the best possible outcome. Random selection, daily engagement, robust sample collection, and next business day results combine to help clients develop coping and refusal skills to new-use events. With Averhealth's agile and easy-to-navigate software and automation tools, it streamlines your daily workflow and ultimately supports recovery. For more information, please visit: https://www.averhealth.com.
Founded in 1977, TASC of Arizona is nationally known as an innovator in the development and implementation of drug testing and behavioral health programs. TASC is a private, nonprofit 501(c)(3) corporation headquartered in Phoenix, Arizona. TASC is licensed by the Arizona Department of Health Services to provide outpatient behavioral health treatment and counseling including: substance abuse treatment and education; domestic violence treatment; anger management; DUI screening; and clinical laboratory services.
About Five Arrows Capital Partners
Five Arrows Capital Partners (FACP) is the North American corporate private equity business of Rothschild & Co. Merchant Banking (RMB), the investment arm of Rothschild & Co. With offices in London, Paris, Luxembourg, New York and Los Angeles, RMB has over $12 billion of assets under management. Like RMB's European corporate private equity business, FACP is focused on investing in middle market companies with highly defensible market positions, business models with a proven history of generating attractive returns on invested capital across economic cycles and multiple untapped levers for value creation. Sector focus of FACP is on healthcare; business services; and data, software & technology-enabled services. For more information, please visit https://www.rothschildandco.com/en/merchant-banking/corporate-private-equity.