Acadia Healthcare Acquires 50-Bed Inpatient Psychiatric Facility from a Non-Profit Health System
January 08 2013 - 6:50AM
Business Wire
Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced
the purchase of Greenleaf Center, a 50-bed acute inpatient
psychiatric facility in Valdosta, GA. Acadia purchased the facility
in a transaction that was completed January 1, 2013, from South
Georgia Medical Center, a non-profit health system.
“We are pleased to begin 2013 with the purchase of a high
quality acute inpatient psychiatric facility,” commented Joey
Jacobs, Chairman and Chief Executive Officer of Acadia. “We welcome
the experienced and professional staff of Greenleaf Center to the
Acadia team, and we expect that, with annual revenues of
approximately $7 million, this facility will have an accretive
impact on our 2013 earnings per share. In addition, this
transaction is our first with a non-profit healthcare organization.
We believe the non-profit segment of the healthcare industry has
the potential to be a meaningful source of additional acquisition
opportunities.”
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 obtain financing for pending and future
acquisitions within timeframes and on terms acceptable to Acadia,
if at all; (ii) Acadia’s ability to complete acquisitions and
successfully integrate the operations of the acquired facilities;
(iii) Acadia’s ability to add beds, expand services, enhance
marketing programs and improve efficiencies at its facilities; (iv)
potential reductions in payments received by Acadia from the
government and third-party payors; (v) 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
(vi) 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 43 behavioral health
facilities with over 3,200 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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