Adjusts Guidance for 2015 Adjusted Earnings per Diluted Share to New
Range of $2.12 to $2.15
FRANKLIN, Tenn.--(BUSINESS WIRE)--Jun. 2, 2015--
Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced three
acquisitions – two in the United Kingdom and one in the United States -
which include 17 inpatient behavioral health facilities with
approximately 500 beds.
Acadia purchased the behavioral health operations of Care UK, which
include 15 inpatient facilities with approximately 300 beds, providing
behavioral health services to children, adolescents and adults. The
Company also completed the purchase of another inpatient behavioral
health facility, with 42 beds, from Choice Lifestyles in the U.K. In
addition, Acadia announced an asset purchase agreement with Belmont
Behavioral Health, which is part of the not-for-profit Einstein
Healthcare Network. The assets to be purchased include an inpatient
behavioral health facility with 147 beds serving the greater
Philadelphia, Pennsylvania, market. Aggregate cash consideration for
these facilities is approximately $145 million, the operations of which
produced total revenue of approximately $82 million in 2014. Acadia
completed the two acquisitions in the U.K. on June 1, 2015, and expects
to complete the Belmont purchase on July 1, 2015.
Joey Jacobs, Chairman and Chief Executive Officer of Acadia, said, “We
are pleased to announce these transactions and to welcome these
outstanding healthcare teams to Acadia. These acquisitions are
consistent with our growth strategies and reflect growing demand for
behavioral health services in both the U.S. and the U.K. The capital we
raised from the May equity offering is being put to use quickly and
effectively, as we anticipated. The Company remains well positioned to
fund its growth strategies through its continuing generation of
substantial cash flow from operations and full availability under its
$300 million revolving credit facility.
“As a result of the transactions, all of which are expected to be
accretive to our financial results, we now operate 45 inpatient
facilities with approximately 1,800 beds in the U.K. We continue to have
robust opportunities to expand further in this market through organic
growth and acquisition. Our Philadelphia acquisition is also
representative of additional opportunities we are evaluating in our
domestic pipeline of potential acquisitions, including more transactions
with non-profit healthcare providers.”
Acadia also today updated its 2015 financial guidance to reflect these
three acquisitions, as well as the Company’s public offering of
5,175,000 shares of common stock completed May 11, 2015. Acadia’s
guidance for 2015 adjusted earnings per diluted share is in a range of
$2.12 to $2.15, compared with the previous range of $2.11 to $2.15. The
Company’s guidance does not include the impact of any other future
acquisitions or transaction-related expenses.
About Acadia
Acadia is a provider of inpatient behavioral health services. Acadia
operates a network of 224 behavioral health facilities with
approximately 9,000 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.
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Source: Acadia Healthcare Company, Inc.
Acadia Healthcare Company, Inc.
Brent Turner, 615-861-6000
President