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Acadia Healthcare Forms Joint Venture With Tufts Medicine to Build a Behavioral Health Hospital to Serve the Boston Regional Area
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Acadia Healthcare Company (NASDAQ: ACHC) has announced a joint venture with Tufts Medicine to establish a new 144-bed behavioral health hospital in Malden, Massachusetts. The facility aims to enhance access to vital inpatient behavioral health services, supported by an investment exceeding $65 million. This new hospital will cater to patients of all ages and will also serve as a teaching hospital for Tufts University students. The joint venture marks Acadia's 17th partnership and underscores its commitment to addressing mental health care needs in the community.
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Formation of a joint venture with Tufts Medicine to build a new 144-bed behavioral health hospital.
Over $65 million investment aimed at enhancing behavioral health resources in Boston.
The facility will provide a continuum of care for all ages, addressing critical community needs.
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FRANKLIN, Tenn.--(BUSINESS WIRE)--
Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced that it has formed a joint venture with Tufts Medicine, one of Massachusetts’ elite health systems. The partnership anticipates building a new 144-bed behavioral health hospital at the site of the former Malden Hospital in Malden, Massachusetts, expanding access to critically needed inpatient behavioral health services.
For decades, the hospitals of Tufts Medicine – MelroseWakefield Hospital and Lawrence Memorial Hospital – have been known and highly respected for the inpatient behavioral healthcare that they provide the communities they serve. The proposed new hospital will offer the latest in inpatient behavioral healthcare and intensive outpatient programs, providing the continuum of care needed to support patients and their families. The new hospital will also serve as a teaching hospital, training students and residents from the Tufts University School of Medicine.
The hospital will care for patients of all ages, including the most vulnerable members of the community, especially its adolescent and elderly neighbors. Together, Acadia and Tufts Medicine will invest more than $65 million in expanding behavioral health resources in Boston. The new hospital represents the 17th joint venture partnership for Acadia.
“This facility will have a tremendous impact, bringing critically needed behavioral healthcare services to the area,” said Chris Hunter, Chief Executive Officer of Acadia Healthcare. “As we have proven in operating our joint ventures, we will bring the best practices of both organizations and expand access to quality behavioral healthcare services providing healing and hope to those in need in the surrounding communities. We will continue to partner with leading health systems to combat the mental healthcare and substance use crises across our country.”
“MelroseWakefield Hospital and Lawrence Memorial Hospital have served the behavioral health needs of our communities admirably, and we are proud to expand upon the legacy of high-quality, compassionate care through this joint venture with Acadia,” said Michael Dandorph, President and Chief Executive Officer of Tufts Medicine. “This facility will offer the critical inpatient behavioral health services that our community members need, while serving as a strong partner to residents, patients, their families, and medical providers across the region.”
About Acadia Healthcare
Acadia is a leading provider of behavioral healthcare services across the United States. As of March 31, 2022, Acadia operated a network of 238 behavioral healthcare facilities with approximately 10,600 beds in 40 states and Puerto Rico. With more than 22,500 employees serving approximately 70,000 patients daily, Acadia is the largest stand-alone behavioral health company in the U.S. Acadia provides behavioral healthcare services to its patients in a variety of settings, including inpatient psychiatric hospitals, specialty treatment facilities, residential treatment centers and outpatient clinics.
About Tufts Medicine
Tufts Medicine is a leading integrated health system bringing together the best of academic and community healthcare to deliver exceptional, connected and accessible care experiences to consumers across Massachusetts. Comprised of Tufts Medical Center, Lowell General Hospital, MelroseWakefield Hospital, Lawrence Memorial Hospital of Medford, an expansive home care network and a large integrated physician network. Tufts Medicine has more than 15,000 dedicated care team members providing more than 1.5 million patient experiences per year. The health system is the principal teaching affiliate for Tufts University School of Medicine. Tufts Medicine came together in 2014 to leverage the experience of its member organizations and integrate their missions to together transform the ways that consumers engage with and experience their care.
