The Company: Pinnacle Treatment

In 2006, we founded an addiction treatment company with the acquisition of four small methadone clinics in Pittsburgh. Our business plan was to serially acquire methadone clinics in the Mid-Atlantic area as a foundation on which to develop a regional provider of diversified and integrated substance abuse services. These services were to include drug-free and Medication-Assisted Treatment (MAT) inpatient and outpatient services centered in the mid-Atlantic and growing in nearby states to keep the regional focus. We completed eight acquisitions and green fielded 18 sites. Today, Pinnacle provides a full spectrum of programs for a broad range of chemical addiction across over 30 locations in Pennsylvania, New Jersey, Virginia and Kentucky. The Company’s revenues – over $70 million – and EBITDA grew approximately 11x since the start of the project while producing industry benchmark margins for an in-network provider.

The Executive: Joe Pritchard

Prior to joining Pinnacle with Celerity, Joe was Vice President of Operations for CRC Health Group, which he helped grow to the largest behavioral health company in the U.S., operating in 25 states and treating over 30,000 lives daily. Joe has nearly 40 years of operations, development and strategic planning experience in the substance use disorder field.

What He Said About Us:

“In December 2006, Celerity Partners acquired 4 methadone clinics in the Pittsburgh area. Celerity had the foresight to develop their own clinics while other investors were backing methadone roll-ups. Pinnacle and Celerity elected to experiment with building methadone clinics (OTPs) de novos. When the experiment proved successful, Celerity supported us building out a development team that was tasked with initially building 2-3 de novos a year. At each step of the way, Celerity has been supportive of the evolving business plan, although it diverged significantly from the traditional PEG model of serial acquisitions.

In 2011 Pinnacle acquired Endeavor House, which Celerity originated and which brought us into the Residential Treatment Center (RTC) business. In short order, we acquired two additional RTC companies in which we doubled capacity and earnings in under 12 months. Celerity has been fully supportive of PTC entering this new line of business and buying under performing companies.

Celerity has been a strong partner, helping us find and negotiate acquisitions and handling the financings and closings.”