FRANKLIN, Tenn.--(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.”
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.
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.