Acadia Healthcare Company Inc : Acadia Healthcare Announces the Purchase of Delta Medical Center in Memphis, Tennessee
02/01/2013| 06:55am US/Eastern
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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.
Acadia Healthcare Company, Inc.
Brent Turner, President,
615-861-6000
© Business Wire 2013
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