Acadia Healthcare Provides an Update on the U.K. Sale Process
September 29 2020 - 9:06AM
Business Wire
Acadia Healthcare Company, Inc. (NASDAQ: ACHC) (the “Company” or
“Acadia”) today provides an update on the sale process for the U.K.
business. The Company previously suspended the sale process due to
the market dynamics related to the COVID-19 pandemic.
Debbie Osteen, Chief Executive Officer of Acadia Healthcare,
remarked, “We have notified potential buyers that we will shortly
relaunch the formal process regarding the sale of our U.K.
business. Our objective continues to be maximizing value for our
stockholders. As we continue to work with our financial and legal
advisors, we will update the market on the sales process when and
as we determine it is appropriate.”
About Acadia
Acadia is a leading provider of behavioral healthcare services.
As of June 30, 2020, Acadia operated a network of 589 behavioral
healthcare facilities with approximately 18,200 beds in 40 states,
the United Kingdom and Puerto Rico. Acadia provides behavioral
healthcare services to its patients in a variety of settings,
including inpatient psychiatric hospitals, specialty treatment
facilities, residential treatment centers and outpatient
clinics.
Forward-Looking Information
This press release contains forward-looking statements.
Generally, words such as “may,” “will,” “should,” “could,”
“anticipate,” “expect,” “intend,” “estimate,” “plan,” “continue,”
and “believe” or the negative of or other variation on these and
other similar expressions identify forward-looking statements.
These forward-looking statements are made only as of the date of
this press release. We do not undertake to update or revise the
forward-looking statements, whether as a result of new information,
future events or otherwise. Forward-looking statements are based on
current expectations and involve risks and uncertainties and our
future results could differ significantly from those expressed or
implied by our forward-looking statements. The forward-looking
statements contained in this press release include statements
related to the relaunch of the formal process regarding the sale of
our U.K. business. Factors that may cause actual results to differ
materially include, without limitation, (i) the impact of the
COVID‑19 pandemic, including, without limitation, disruption to the
U.S. and U.K. economies and financial markets; reduced admissions
and patient volumes; increased costs relating to labor, supply
chain and other expenditures; and difficulty in collecting patient
accounts receivable due to increases in the unemployment rate and
the number of underinsured and uninsured patients; (ii) potential
difficulties operating our business in light of political and
economic instability in the U.K. and globally relating to the
U.K.’s departure from the European Union; (iii) the impact of
fluctuations in foreign exchange rates, including the devaluation
of the British Pound Sterling (GBP) relative to the U.S. Dollar
(USD); (iv) the Company’s efforts to sell its U.K. operations may
not result in any definitive transaction or enhance stockholder
value; (v) potential difficulties in successfully integrating the
operations of acquired facilities or realizing the expected
benefits and synergies of our acquisitions, joint ventures and de
novo transactions; (vi) the Company’s ability to add beds, expand
services, enhance marketing programs and improve efficiencies at
its facilities; (vii) potential reductions in payments received by
the Company from government and third-party payors; (viii) the
occurrence of patient incidents, governmental investigations and
adverse regulatory actions, which could adversely affect the price
of our common stock and result in substantial payments and
incremental regulatory burdens; (ix) the risk that the Company may
not generate sufficient cash from operations to service its debt
and meet its working capital and capital expenditure requirements;
and (x) potential operating difficulties, labor costs, client
preferences, changes in competition and general economic or
industry conditions that may prevent the Company from realizing the
expected benefits of its business strategies. These factors and
others are more fully described in the Company’s Annual Report on
Form 10-K for the year ended December 31, 2019, its Quarterly
Report on Form 10-Q for the quarterly period ended June 30, 2020
and subsequent periodic reports and other filings with the SEC.
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version on businesswire.com: https://www.businesswire.com/news/home/20200929005704/en/
Gretchen Hommrich Director, Investor Relations (615)
861-6000
Acadia Healthcare (NASDAQ:ACHC)
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