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Varsity Healthcare Partners Completes Investment in Ideal Option

October 2, 2018

NEW YORK--(BUSINESS WIRE)--Oct 2, 2018--Varsity Healthcare Partners (“VHP”), a leading lower middle-market private equity firm focused on healthcare services, announced today the completion of an investment in Ideal Option, a leading provider of Medication-Assisted Treatment (“MAT”) and behavioral counseling services for individuals suffering from Opioid Use Disorder (“OUD”). The partnership with VHP will provide strategic assistance and growth capital to facilitate Ideal Option’s mission of expanding affordable, effective and evidence-based treatment access to communities devastated by the national opioid epidemic.

VHP is partnering with the founders of Ideal Option, Dr. Jeffrey Allgaier and Dr. Kenneth Egli, each double Board-Certified in Emergency Medicine and Addiction Medicine, in this transaction. After witnessing the severity and prevalence of OUD while serving as Emergency Department physicians, Dr. Allgaier and Dr. Egli founded Ideal Option in 2012 to provide high-quality treatment access. Dr. Allgaier and Dr. Egli, as well as other members of management, will remain in senior executive roles and large shareholders of the Company going forward. Together, VHP and Ideal Option will also attract additional executive talent to facilitate expansion of the Company’s mission.

About Ideal Option

Headquartered in Kennewick, Washington, Ideal Option has delivered personalized medicine to over 20,000 patients through a network of 56 office-based opioid treatment (“OBOT”) clinics across 10 states. Ideal Option emphasizes individualized treatment programs for patients consisting of MAT and behavioral counseling services to drive superior outcomes. The Company extensively utilizes telemedicine technology to reach secondary and tertiary markets where access to treatment is limited or non-existent. Ideal Option and its team of 90 medical providers are dedicated to delivering excellent patient care with integrity and empathy. For more information please visit: www.idealoption.net.

About Varsity Healthcare Partners

Varsity Healthcare Partners (VHP) is a lower middle-market private equity investment firm focused on partnering with founders, entrepreneurs and management teams to build leading healthcare services companies. VHP has been successful in developing and executing a tailored value-creation plan, in partnership with the leadership of each company, that typically emphasizes an appropriate investment in infrastructure followed by an aggressive organic and acquisition growth strategy. VHP draws upon its extensive healthcare industry experience and relationships, as well as its hands-on partnership approach, to effectively drive growth and maximize value. For more information please visit: www.varsityhealthcarepartners.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181002005237/en/

CONTACT: Mickey Mandelbaum or Nick Rust

Prosek Partners

(212) 279-3115

mmandelbaum@prosek.com/nrust@prosek.com

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: PRACTICE MANAGEMENT HEALTH OTHER HEALTH PROFESSIONAL SERVICES ACCOUNTING BANKING FINANCE

SOURCE: Varsity Healthcare Partners

Copyright Business Wire 2018.

PUB: 10/02/2018 08:00 AM/DISC: 10/02/2018 08:00 AM

http://www.businesswire.com/news/home/20181002005237/en

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