Acadia Healthcare Completes Merger with PHC to Become the Leading Publicly Traded Pure-Play Inpatient Behavioral Health Care ...
November 01 2011 - 9:53AM
Business Wire
Acadia Healthcare Company, Inc. (“Acadia” or the “Company”)
(NASDAQ: ACHC) today announced the completion of its merger with
PHC, Inc., d/b/a Pioneer Behavioral Health. As a result of the
transaction, Acadia is the country’s leading publicly traded
pure-play provider of inpatient behavioral health care services,
based upon licensed beds. The Company operates 34 facilities, with
approximately 1,950 licensed beds in 18 states, which would have
produced annual revenues of more than $325 million on a pro forma
basis for the twelve months ending June 30, 2011.
Commenting on the announcement, Joey Jacobs, Chairman and Chief
Executive Officer of Acadia, said, “The completion of this merger
brings a great team of dedicated and skilled professionals to
Acadia and an outstanding portfolio of facilities and services. In
addition, by improving the Company’s access to capital as a public
company, the transaction enhances our ability to drive Acadia’s
growth through additional acquisitions in the highly fragmented
behavioral health care services industry. Based on our management
team’s significant industry experience and expertise, we are
confident of our ability to complete and successfully integrate
such transactions, as well as to produce increased organic growth,
productivity and efficiency in the facilities we operate.”
Risk Factors
This news 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
news 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. Factors that may cause
actual results to differ materially include the risk that (i)
payments received from the government and third-party payors may be
reduced; (ii) Acadia may not generate sufficient cash from
operations to service its debt and meet its working capital and
capital expenditure requirements; (iii) the businesses of Acadia
and Pioneer Behavioral Health may not be integrated successfully;
and (iv) Acadia may not be able to identify, finance and integrate
future acquisitions. These factors and others are more fully
described in Acadia’s Registration Statement on Form S-4 and its
periodic reports and other filings with the SEC.
About Acadia Healthcare Company, Inc.
Founded in December 2005, Acadia is a leading provider of
inpatient behavioral health care services. Acadia operates a
network of 34 behavioral health facilities with approximately 1,950
licensed beds in 18 states. Acadia provides premier psychiatric and
chemical dependency services to its patients in a variety of
settings, including inpatient psychiatric hospitals, residential
treatment centers, outpatient clinics and therapeutic school-based
programs. For additional information about Acadia, visit the
Company’s website at www.acadiahealthcare.com.
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