Acadia Healthcare Announces Definitive Agreement to Purchase 85-Bed Inpatient Psychiatric Facility in Florida
June 20 2013 - 4:00PM
Business Wire
Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced
that it has signed a definitive agreement for the purchase of The
Refuge, a Healing Place, an inpatient psychiatric facility near
Ocala, Florida licensed for 85 beds. The Company expects to
complete the purchase of the facility, which produced revenues for
2012 of approximately $10 million, during the third quarter of
2013, subject to normal closing conditions.
“We are pleased with our agreement to purchase this high quality
specialty inpatient psychiatric facility, which is the second
transaction we have announced in Florida in 2013,” said Joey
Jacobs, Chairman and Chief Executive Officer of Acadia. “Consistent
with our ongoing acquisition strategy, we expect this transaction
to be accretive to our financial results and to represent a
long-term growth opportunity for Acadia.”
Judy Crane, founder and executive director of The Refuge, added,
“We are excited about the possibilities that Acadia brings to The
Refuge. With Acadia’s support and resources, The Refuge will
further develop our extraordinary work of healing and enriching the
lives of trauma survivors and their families. We will continue to
provide exceptional treatment in substance abuse, detox and process
addictions with our dedicated staff.”
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 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 46 behavioral healthcare
facilities with approximately 3,700 licensed beds in 21 states and
Puerto Rico. 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 Company, Inc.Brent Turner,
615-861-6000President
Acadia Healthcare (NASDAQ:ACHC)
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