Acadia Healthcare Enters Into a Joint Venture Partnership With Ascension Seton to Expand Behavioral Health Services in Austin, Texas
January 09 2024 - 1:15PM
Business Wire
Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced
that it has formed a joint venture partnership with Ascension
Seton, one of the leading, integrated healthcare systems in Austin,
Texas, and a part of the Ascension national health network. The
partnership will expand access to behavioral healthcare in Austin
and surrounding communities.
The joint venture will focus on expanding Acadia’s current
operations at Cross Creek Hospital, as well as the number of
inpatient behavioral beds available in Austin. Acadia will
construct a 106-bed expansion of the acute behavioral hospital,
increasing the total licensed bed count to 196 upon completion.
Slated to open in late 2024, the new hospital will be named “Cross
Creek Hospital together with Ascension Seton.”
The joint venture hospital will be in close proximity to
Ascension Seton hospitals and will be one of the training sites for
students, residents and fellows from Dell Medical School at The
University of Texas at Austin.
This is Acadia’s second joint venture partnership with
Ascension, having developed and opened Ascension Saint Thomas
Behavioral Health Hospital in Nashville, Tennessee, in 2020.
Ascension Seton selected Acadia as their joint venture partner in
Austin because of Acadia’s shared commitment to high-quality,
compassionate, mission-driven care to improve the health of the
individuals and communities they serve. Ascension Seton’s decision
was further solidified by Acadia’s proven track record in joint
venture partnerships and the existing relationship with the health
system.
“We are proud to expand our strong working relationship with
Ascension,” said Chris Hunter, chief executive officer of Acadia
Healthcare. “Through this joint venture, our organizations will
partner in the delivery of high-quality behavioral healthcare to
promote health and healing in the Austin community. With this
announcement, Acadia now has 21 joint venture partnerships with
premier health systems. We will continue this successful strategy
to expand access to behavioral healthcare across the United
States.
“This hospital will be a tremendous resource for those living in
our community, including those who are most vulnerable, and we’re
thrilled to bring together the expertise and capabilities from our
two great organizations,” said Andy Davis, president and chief
executive officer of Ascension Texas. “Acadia has an established
track record of expanding access to high-quality, compassionate
care in communities across the country. This joint venture will
build upon our expertise while increasing the number of behavioral
health beds and other behavioral health services available to
patients throughout the region.”
About Acadia Healthcare
Acadia is a leading provider of behavioral healthcare services
across the United States. As of September 30, 2023, Acadia operated
a network of 253 behavioral healthcare facilities with
approximately 11,100 beds in 39 states and Puerto Rico. With
approximately 23,000 employees serving more than 75,000 patients
daily, Acadia is the largest stand-alone behavioral healthcare
company in the U.S. 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.
About Ascension Texas
In Texas, Ascension operates Ascension Providence in Waco and
Ascension Seton, which includes Dell Children’s Medical Center, the
region’s only comprehensive children’s hospital and pediatric Level
I trauma center, and Dell Seton Medical Center at The University of
Texas, the region’s only Level I trauma center for adults.
Ascension Seton partners with Dell Medical School at The University
of Texas at Austin and shares a common vision of transforming
healthcare through a focus on quality and value. Serving Texas for
more than 120 years, Ascension is a faith-based healthcare
organization committed to delivering compassionate, personalized
care to all, with special attention to persons living in poverty
and those most vulnerable. Ascension is one of the leading
non-profit and Catholic health systems in the U.S., operating 2,600
sites of care – including 139 hospitals and more than 40 senior
living facilities – in 19 states and the District of Columbia.
Visit www.ascension.org and www.dellchildrens.net.
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Gretchen Hommrich Vice President, Investor Relations Acadia
Healthcare (615) 861-6000
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