FRANKLIN, Tenn.—Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced that it has signed a definitive agreement for the purchase of The Refuge, a Healing Place, an inpatient psychiatric facility near Ocala, Florida licensed for 85 beds. The Company expects to complete the purchase of the facility, which produced revenues for 2012 of approximately $10 million, during the third quarter of 2013, subject to normal closing conditions.
“We are pleased with our agreement to purchase this high quality specialty inpatient psychiatric facility, which is the second transaction we have announced in Florida in 2013,” said Joey Jacobs, Chairman and Chief Executive Officer of Acadia. “Consistent with our ongoing acquisition strategy, we expect this transaction to be accretive to our financial results and to represent a long-term growth opportunity for Acadia.”
Judy Crane, founder and executive director of The Refuge, added, “We are excited about the possibilities that Acadia brings to The Refuge. With Acadia’s support and resources, The Refuge will further develop our extraordinary work of healing and enriching the lives of trauma survivors and their families. We will continue to provide exceptional treatment in substance abuse, detox and process addictions with our dedicated staff.”
About Acadia
Acadia is a provider of inpatient behavioral healthcare services. Acadia operates a network of 46 behavioral healthcare facilities with approximately 3,700 licensed beds in 21 states 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.