BayMark Health Creditors to Take Control in Debt Restructuring

BayMark Health Services creditors will take control of the provider of opioid addiction treatments, as part of a deal to restructure the company’s debt, according to people familiar with the matter.

Private equity firm Webster Equity Partners will hand the keys of the business to lenders in exchange for cutting the company’s debt by more than 40%, the people familiar added, asking not to be identified discussing private information.

Lewisville, Texas-based BayMark took on debt to fund several acquisitions, then faced integration issues and a decline in demand for some of its treatments after reaching a peak coming off of ...