TSL Express Daily News

Long Beach, CA -- Apex Innovative Sciences, Inc. (“Apex” or the “Company”), a clinical research and site service organization specializing in complex early phase studies, has completed a corporate divestiture of Ocean View Adult Psychiatric Hospital (“Ocean View”). Ocean View was acquired by View Behavioral Health (“View”), an investment group led by former Divisional President, Jack Stephens. FocalPoint Partners (“FocalPoint”) served as exclusive financial advisor to the Company. 

According to the California Hospital Association, the number of acute psychiatric beds in California has decreased by approximately 30% since 1995. The number of beds per 1,000 people has plummeted from 30 to 17 beds during the same period, a sharp decline of over 40%. Considering the targeted benchmark of 50 beds per 1,000 people, access to care for this critical patient population has reached crisis levels. The societal and economic burden of inadequate care can far outweigh the requisite investment in infrastructure. Recognizing this dynamic, View is in the process of doubling its acute psychiatric bed count to 72 while exploring development of new facilities across California. View’s culture is rooted in managed care which paves the way for implementation of value-based principles designed to lower the total cost of care while improving patient outcomes.  

Apex was formed in September 2019 through the three-company merger between Hassman Research Institute, Collaborative Neuroscience Network, and Clinical Trials Centers Alliance, in conjunction with an investment from Bison Capital, the Company’s private equity sponsor. Since 2019, Apex has accelerated the integration of core business functions, cross-pollination of indication expertise, and recruitment of first-rate clinical and operational talent. The Company has more than doubled its capacity in each of California and New Jersey.  

Apex provides scientific, technological, and organizational expertise in phase I - IV clinical trials. Indication expertise includes neurology, psychiatry, addiction, Asian bridging, pain, healthy subjects, and general medicine. The Company prides itself on delivering the highest scientific and clinical quality for its client partners and participants. Despite the COVID-19 global pandemic, Apex has grown significantly while broadening multi-faceted capabilities in research areas including human abuse liability, addiction, psychedelics, and driving simulation. Apex has also expanded commercial partnerships which provide improved access to complex imaging technology from major companies including Siemens and GE Healthcare. A significant driver of the Company’s expansion comes from its unique ability to provide sponsors with easy access to five clinical facilities with more than 180+ specialized inpatient beds. 

Dr. David Walling, Co-founder and Chief Clinical Officer, stated, “This transaction is bitter-sweet considering Jack and I have been creating value together for over 20 years. Apex, however, is thrilled to see View Behavioral Health join forces with investors and strategic partners to fill the considerable health care gap facing acute psychiatric patients. This also allows Apex to focus on its core mission of helping to speed the development of novel medicines.” 
 
Jack Stephens, Founder of View Behavioral Health said, “I can think of no more critical time to allocate my energy towards a patient population that consistently struggles to find the care they need. FocalPoint is a strategic partner that not only brings business acumen but also contributes to the innovation of new and improved healthcare delivery models.”  
 
James Castro, Managing Director and Co-lead of FocalPoint’s Healthcare Group, said, “Assisting pioneers like Jack in executing his comprehensive vision brings great purpose to our practice. Both Apex and View are extremely well-positioned to support their respective communities and stakeholders in a variety of ways.” 

About Apex Innovative Sciences, Inc.
Apex Innovative Sciences, Inc. is a global provider of clinical development and site services. Apex represents the consolidation of core businesses including Hassman Research Institute, CNS Network and Clinical Trial Centers Alliance. The expanded team collaborates to provide quality, efficiency, and value in the development of innovative medicines. Apex helps sponsors achieve go/no-go decisions, reduce development costs, and deliver high quality results. Apex is committed to providing scientific, technological, and organizational expertise in phase I - IV clinical trials, including neurology, psychiatry, addiction, Asian bridging, pain, healthy subjects and general medicine. The company prides itself on delivering the highest scientific and clinical quality for its client partners and participants. For more information about Apex, please visit: https://www.ApexSci.com/. 

About FocalPoint Partners
FocalPoint is an independent investment bank specializing in mergers and acquisitions, private placements (both debt and equity), financial restructurings, and special situation transactions. With offices in Los Angeles, Chicago, New York, and Shanghai, the firm provides financial advisory services to middle market clients. FocalPoint’s national Healthcare practice comprehensively covers an array of healthcare service and technology sectors. Since its inception in 2002, FocalPoint has completed transactions with an aggregate value of more than $17 billion. For more information, please visit https://focalpointllc.com and follow us on LinkedIn and Twitter. 
 
Please contact James Castro, Managing Director, at 310-210-6295 or jcastro@focalpointllc.com for more information regarding this transaction.