Acadia Healthcare Announces the Purchase of Delta Medical Center in Memphis, Tennessee
February 01 2013 - 6:50AM
Business Wire
Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced
the purchase of Delta Medical Center, a 243-bed hospital in
Memphis, TN, with the majority of operating beds dedicated to acute
inpatient psychiatric patients.
Joey Jacobs, Chairman and Chief Executive Officer of Acadia,
commented, “The purchase of Delta Medical Center represents a great
opportunity for Acadia to enter the Memphis market with a high
quality facility and an outstanding medical staff. It also gives us
the opportunity to treat acute inpatient psychiatric patients with
medical complications. Consistent with our acquisition strategy, we
expect this transaction will be accretive to our financial results,
and we further note that, with a license for 243 total beds, not
all of which are currently in operation, the facility has
significant capacity for expansion. This purchase is the second
Acadia has completed this year, and we continue to evaluate
additional transactions in the fragmented and underserved inpatient
psychiatric market.”
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,
including Delta Medical Center; (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 44 behavioral health
facilities with over 3,400 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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