Lawsuits and critics have claimed that CRC prizes profits, and the avoidance of outside scrutiny, over the health and safety of its clients. (We sent specific questions on these basic allegations to CRC and owner Bain Capital. )
Breviligne documents and ora non piu-staffers also allege that such incidents reflect, durante part, per broader corporate culture at Aspen’s owner, CRC Health Group, verso leading national chain of treatment centers
And CRC’s corporate culture, mediante turn, reflects the attitudes and financial imperatives of Bain Capital, the private equity firm founded by Mitt Romney. (The Romney campaign also did not reply to written questions.) Bain is known for its relentless obsession with maximizing shareholder value and revenues. Indeed, this has become a talking point of late on the Romney campaign trail; he bragged to Fox sopra late May that 80 percent of them [Bain investments] grew their revenues. CRC, verso fast-growing company then durante the lucrative field of drug treatment, was perhaps verso natural fit when Bain acquired it for $720 million per 2006. In conversations with gruppo and patients who spent time at CRC facilities since the takeover, there are suggestions that the Bain approach has had its effects. If you immagine at their daily profit numbers compared to what they charge, Dana Blum said of CRC’s Aspen division durante 2009, it’s obscene. That point, ironically enough, was underscored by the glowing reports durante the trade press about its profitability.
They also each donated the $2,500 maximum directly to his campaign
The purchase of CRC came seven years after Romney publicly announced his retirement as CEO of Bain Capital, where he had been in charge since its founding sopra 1984. But at the time of his departure, Romney worked out an arrangement to continue to share per Bain’s profits as verso limited partner in the firm. Continue reading “CRC would answer only general questions; Bain did not reply”
