Transaction Expected to Close November 30, 2016
FRANKLIN, Tenn.--(BUSINESS WIRE)--Nov. 10, 2016--
Acadia Healthcare Company, Inc. (“Acadia” or the “Company”) (NASDAQ:
ACHC) today announced that the Competition and Markets Authority (“CMA”)
in the United Kingdom has accepted Acadia’s previously announced
undertakings to sell to BC Partners 21 existing behavioral health
facilities and one de novo behavioral health facility not yet opened,
which are located in the U.K. The sale will fulfill the undertakings
Acadia gave the CMA to address the CMA’s concerns about the impact of
Acadia’s acquisition of Priory on competition for the provision of
behavioral healthcare services in certain markets in the U.K. As a
result of the CMA’s acceptance of Acadia’s undertakings, Acadia’s
acquisition of Priory will not be referred for an in-depth phase 2
investigation.
Acadia expects to complete the sale on November 30, 2016, for £320
million (approximately $390 million) cash. The facilities to be sold
have approximately 1,000 total beds and produce aggregate approximate
annual revenue of $162 million and adjusted EBITDA of $37 million, after
overhead allocation and assuming an exchange rate of $1.22 per British
Pound Sterling.
About Acadia
Acadia is a provider of inpatient behavioral healthcare services. Acadia
operates a network of 589 behavioral healthcare facilities with
approximately 17,900 beds in 39 states, the United Kingdom and Puerto
Rico. Acadia provides behavioral health and addiction 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