BRENTWOOD, Tenn.--(BUSINESS WIRE)--AAC Holdings, Inc. (NYSE: AAC) offered the following comments in response to published reports.
“AAC has treated well over 15,000 clients since the founding of a predecessor company in 2004. Every day we come to work with the intention of helping save our clients from the horrible effects of addiction.
“We believe the indictment of the company and the five individuals was legally and factually unfounded, and that the recent published reports are without merit.
“Sadly, deaths occur in this industry, as they do in healthcare settings. Drug abuse is an epidemic in this country, affecting millions of people with a $600 billion societal cost, according to the National Institute on Drug Abuse. Every day, 105 people die and another 6,748 are treated in emergency departments as a result of drug overdose or for the misuse or abuse of drugs, according to the National Comorbidity Survey.
“Our company remains focused on our mission, which is to provide quality, comprehensive compassionate and innovative care to individuals struggling with alcohol and drug conditions and mental/behavioral health issues. AAC is dedicated to the recovery of each individual, every day.
“Consistent with our public statement on July 29, 2015, as we are able to share more information, we will do so.”
About American Addiction Centers
American Addiction Centers is a leading provider of inpatient substance abuse treatment services. We treat adults as well as adolescents who are struggling with drug addiction, alcohol addiction, and co-occurring mental/behavioral health issues. We operate 12 substance abuse treatment facilities and one mental health facility specializing in binge eating disorders. Located throughout the United States, these facilities are focused on delivering effective clinical care and treatment solutions. For more information, please find us at AmericanAddictionCenters.com or follow us on Twitter @AAC_Tweet.
Forward Looking Statements
This release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements are made only as of the date of this release. In some cases, you can identify forward-looking statements by terms such as “anticipates,” “believes,” “could,” “estimates,” “expects,” “may,” “potential,” “predicts,” “projects,” “should,” “will,” “would,” and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these words. Forward-looking statements may include information concerning AAC Holdings, Inc.’s (collectively with its subsidiaries; “Holdings” or the “Company”) possible or assumed future results of operations, including descriptions of Holdings’ revenues, profitability, outlook and overall business strategy. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results and performance to be materially different from the information contained in the forward-looking statements. These risks, uncertainties and other factors include, without limitation: (i) our inability to operate our facilities; (ii) our reliance on our sales and marketing program to continuously attract and enroll clients; (iii) a reduction in reimbursement rates by certain third-party payors for inpatient and outpatient services and point of care and quantitative lab testing; (iv) our failure to successfully achieve growth through acquisitions and de novo expansions; (v) uncertainties regarding the timing of the closing of pending acquisitions and the integration thereof; (vi) our failure to achieve anticipated financial results from contemplated acquisitions; (vii) the possibility that a governmental entity may prohibit, delay or refuse to grant approval for the consummation of the acquisitions; (viii) a disruption in our ability to perform diagnostic drug testing services; (ix) maintaining compliance with applicable regulatory authorities, licensure and permits to operate our facilities and lab; and (x) a disruption in our business related to the recent indictment of certain of our subsidiaries and current and former employees, and (xi) general economic conditions, as well as other risks discussed in the “Risk Factors” section of the Company’s Annual Report on Form 10-K, and other filings with the Securities and Exchange Commission. As a result of these factors, we cannot assure you that the forward-looking statements in this release will prove to be accurate. Investors should not place undue reliance upon forward looking statements.