Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced that it has completed the previously announced acquisition of Belmont Behavioral Health from not-for-profit Einstein Healthcare Network. The acquired assets consist primarily of an inpatient behavioral healthcare facility with 147 beds serving the greater Philadelphia, Pennsylvania market.
In addition, Acadia announced the acquisition of The Manor Clinic, a 15-bed residential rehabilitation facility in Southampton, which is primarily focused on addictions treatment.
Joey Jacobs, Chairman and Chief Executive Officer of Acadia, remarked, “We are pleased to begin the second half of 2015 with the completion of two acquisitions that position Acadia well in growth markets. The completion of the Belmont Behavioral Health transaction strengthens our presence in Pennsylvania and gives us our first inpatient behavioral health facility in Philadelphia. It also reflects the ongoing opportunities we have for additional transactions with non-profit healthcare providers.
“We also welcome the outstanding team at The Manor Clinic to Acadia. As in the U.S., the addictions treatment market in the United Kingdom is large, growing and highly fragmented. We believe The Manor Clinic is a wonderful opportunity through which to launch our presence in addictions treatment in the U.K., a market that we are confident represents a significant long-term growth opportunity for the Company.”
Acadia is a provider of inpatient behavioral health services. Acadia operates a network of 226 behavioral health facilities with approximately 9,200 beds in 37 states, the United Kingdom 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.
Brent Turner, 615-861-6000