Newswires
| CRC TAKES $1.2M WRITEOFF ON FAILED MERGER ATTEMPT |
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-ATIN- 05/15/08 - CRC Health Corp, the nation's largest addiction treatment services provider, took a large $1.2 million writeoff in the first quarter of the year, according to SEC filings. CRC, which is owned by private equity powerhouse Bain Capital, said the charge came as a result of a failed merger transaction, according to the SEC filing. CRC CEO Barry Karlin would not comment on what treatment center CRC had targeted and on which CRC had done such big due diligence, but SEC filings show that CRC completed four transactions in 2007 with a total value of about $33 million.
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