Press Release
January 4, 2024

Antares Supports Acquisition of Community Medical Services by FFL Partners and Two Sigma Impact

CHICAGO, January 04, 2024 — Antares announced today that it served as sole lead arranger and is acting as administrative agent on senior secured credit facilities to support the acquisition of Community Medical Services (CMS) by FFL Partners and Two Sigma Impact.

Founded in 1983 and headquartered in Scottsdale, AZ, CMS operates more than 45 clinics in 9 states. The company aims to provide high-efficacy treatment for opioid use disorder (OUD) while reducing the stigma associated with it. CMS is credited with opening the nation’s first 24-hour opioid treatment-on-demand center in Phoenix in 2017. The company was an early adopter of telemedicine and currently delivers about half of its services via the medium.

“The Antares team knows the behavioral health space well and was quick to use that knowledge to evaluate and commit to supporting our investment in CMS,” said Rajat Duggal, partner with FFL Partners.

“Antares was efficient throughout and brought a high level of expertise to the process,” said Geoff Lieberthal, partner with Two Sigma Impact. “We look forward to using our combined resources to support the growth of CMS in their mission to provide compassionate addiction treatment.”

“CMS is a differentiated, mission-driven company with an experienced, passionate and proven leadership team,” said Mary (Gaede) Rose, managing director with Antares. “We’re pleased to have worked closely with FFL Partners and Two Sigma Impact to support their investment and help further the work of CMS to not only provide treatment for OUD but also improve access for those who otherwise would not be able to receive care.”

About Antares

With more than $45.4 billion of capital under management and administration as of September 30, 2021, Antares is a private debt credit manager and a leading provider of financing and investment solutions for middle-market private equity-backed borrowers and investors. In the first half of 2021, Antares issued approximately $11 billion in financing commitments across more than 135 transactions. Since its founding in 1996, Antares has built one of the industry’s largest and longest-tenured portfolios of middle market companies, and has been recognized by industry organizations as a leading provider of middle market private debt. Through its Asset Management & Funding team, Antares offers investors the opportunity to invest in collateralized loan obligations, funds and separately managed accounts. Antares is committed to championing middle market growth throughout market cycles. Doing so allows its people, partners and communities to achieve their full potential. The company maintains offices in Atlanta, Chicago, Los Angeles, New York and Toronto. Visit Antares at or follow the company on LinkedIn at Antares Capital is a subsidiary of Antares Holdings LP (collectively, “Antares”).


Antares Capital
Carol Ann Wharton