FRANKLIN, Tenn.--(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.”
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.
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.