Acadia Healthcare Announces the Acquisition of Timberline Knolls, a 122-Bed Inpatient Behavioral Healthcare Facility
September 04 2012 - 6:45AM
Business Wire
Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced
the acquisition of Timberline Knolls, a 122-bed inpatient
behavioral healthcare facility located near Chicago in Lemont,
Illinois. Total consideration paid to purchase Timberline Knolls’
operations and a related transaction to purchase the real estate
was $90 million in cash. The facility produced revenues of
approximately $33 million for the 12 months ended June 30, 2012,
and is Acadia’s first facility in Illinois.
“We are pleased to announce the addition of Timberline Knolls, a
growing, profitable and well-run facility, to Acadia’s expanding
base of inpatient psychiatric facilities,” commented Joey Jacobs,
Chairman and Chief Executive Officer of Acadia. “In addition to
bringing an outstanding staff of behavioral healthcare
professionals to Acadia, we expect this transaction to be accretive
to our 2012 financial results in a range of $0.04 to $0.05 per
diluted share. On an annualized basis, this transaction is expected
to increase our earnings per share by approximately $0.16 per
diluted share. By the end of 2012, we also expect to complete an
18-bed expansion that is currently underway at the facility. The
expansion will increase the facility’s total beds to 140, with
additional beds planned for 2013. This transaction, which will
enable us to enter our 19th state, is representative of our robust
pipeline of potential transactions in the fragmented inpatient
behavioral healthcare industry.”
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, without limitation,
(i) Acadia’s ability to complete acquisitions and successfully
integrate the operations of the acquired facilities; (ii) Acadia’s
ability to add beds, expand services, enhance marketing programs
and improve efficiencies at its facilities; (iii) potential
reductions in payments received by Acadia from the government and
third-party payors; (iv) the risk that Acadia may not generate
sufficient cash from operations to service its debt and meet its
working capital and capital expenditure requirements; and (v)
potential operating difficulties, client preferences, changes in
competition and general economic or industry conditions that may
prevent Acadia from realizing the expected benefits of its business
strategy. These factors and others are more fully described in
Acadia’s periodic reports and other filings with the SEC.
About Acadia
Acadia is a provider of inpatient behavioral healthcare
services. Acadia operates a network of 33 behavioral health
facilities with over 2,300 licensed beds in 19 states. Acadia
provides 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.
Acadia Healthcare (NASDAQ:ACHC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Acadia Healthcare (NASDAQ:ACHC)
Historical Stock Chart
From Jul 2023 to Jul 2024