logo
  Join        Login             Stock Quote

Acadia Healthcare (ACHC) To Buy 8 Inpatient Psychiatric Facilities For $258M

 November 27, 2012 08:06 AM


(By Balaseshan) Acadia Healthcare Co. Inc. (NASDAQ: ACHC) said it has agreed under two deals to purchase an aggregate of eight inpatient psychiatric facilities with about 600 beds for $258 million in cash.

Acadia is evaluating alternatives to finance these transactions. While the final funding mix is yet to be finalized, management expects that these transactions will be accretive to its 2013 financial results.

The company has agreed to purchase Behavioral Centers of America LLC, which is headquartered in Nashville, TN, for total consideration of $145 million in cash. BCA operates three inpatient psychiatric facilities and one psychiatric hospital within a hospital.

The facilities of BCA are located in Ohio, Michigan and Texas and have 278 licensed inpatient beds, over 90% of which are acute inpatient beds. The facilities produced revenues of $60.5 million for the twelve months ended September 30, 2012. Acadia expects to complete the transaction in late December 2012.

The company also has agreed to acquire AmiCare Behavioral Centers, headquartered in Fayetteville, AR, for total consideration of $113 million in cash. AmiCare operates four inpatient psychiatric facilities in Arkansas that have 330 licensed inpatient beds, nearly 70% of which are acute inpatient beds.

The facilities of AmiCare produced revenues of $61.7 million for the twelve months ended September 30, 2012. Acadia expects to complete the transaction, which is subject to customary closing conditions, in late December 2012.

"In addition to providing Acadia our first entry into Ohio, which is our 21st state, these transactions will significantly expand our beds in operation. We continue to consider additional acquisition opportunities in the fragmented inpatient behavioral health industry," said Joey Jacobs, Chairman and Chief Executive Officer of Acadia.

Acadia is a provider of inpatient behavioral health care services in the United States. Acadia operates a network of 34 behavioral health facilities with about 2,500 licensed beds in 20 states.

ACHC closed Monday's regular session up 1.52% at $22.65. The stock has been trading between $5.43 and $24.83 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageRussell 2000 Showing Relative Weakness at the New Highs

A quick “Quad Index” Grid shows us that the small-cap Russell 2000 is showing relative strength to the read on...

article imageThe Poster Boy For Liberal Economics Discovers The Tax Factor

Paul Krugman seems to be having a supply-side-economics moment… sort of. Raising taxes, the NY Times read on...

article imageMacroprudential Policy And Distribution Of Risk

There is very little doubt that housing prices and leverage played a strong role in the global financial read on...

article imageIs the World Turning Japanese?

Many really think so, but reality suggests read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center

Related Articles:

Recent Articles by Balaseshan
More Articles on: Medical



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.