Acadia Healthcare Completes Previously Announced Acquisitions of Behavioral Centers of America and AmiCare Behavioral Centers
January 02 2013 - 6:50AM
Business Wire
Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced
that it completed the previously announced acquisitions of
Behavioral Centers of America, LLC and AmiCare Behavioral Centers
on December 31, 2012. In addition, Acadia has expanded and extended
its senior secured credit facility. The credit facility now
consists of a $300 million term loan and a $100 million revolving
credit facility, compared previously with $150 million and $75
million, respectively. In addition, the interest rate for the
credit facility, which matures in December 2017, is now 100 basis
points lower at Libor plus 3.25%.
Borrowings under the new facility, combined with a portion of
the net proceeds of $173.0 million from the Company’s recent sale
of common stock, were used to fund the BCA and AmiCare
acquisitions. Acadia currently has no borrowings under the
revolving credit facility.
“We are very pleased to have closed 2012 with two significant
acquisitions, which together bring eight inpatient psychiatric
facilities and over 600 licensed inpatient beds to Acadia,”
remarked Brent Turner, President of Acadia. “In addition, our
amended credit facility and equity financing position us well to
continue implementing our acquisition strategy in 2013.”
Forward-Looking Statements
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. The Company does 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 Acadia’s future results could differ
significantly from those expressed or implied by the
forward-looking statements.
About Acadia
Acadia is a provider of inpatient behavioral health care
services. Acadia operates a network of 42 behavioral health
facilities with over 3,100 licensed beds in 21 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.
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