Welcome to our dedicated page for Acadia Healthcare Company news (Ticker: ACHC), a resource for investors and traders seeking the latest updates and insights on Acadia Healthcare Company stock.
Acadia Healthcare Company, Inc. (ticker: ACHC) stands as a leading provider of behavioral healthcare services across the United States, the United Kingdom, and Puerto Rico. The company operates a robust network of 253 behavioral healthcare facilities, with approximately 11,300 beds servicing more than 75,000 patients daily. With a committed workforce of about 23,500 employees, Acadia specializes in delivering psychiatric and chemical dependency services through various settings, including inpatient psychiatric hospitals, residential treatment centers, outpatient clinics, and therapeutic school-based programs.
Core Services and Operations
Acadia's core business focuses on providing comprehensive care for children, teenagers, and adults suffering from mental health disorders and/or substance use issues. The company’s operations are divided into inpatient and outpatient behavioral health services. The acute inpatient psychiatric facilities and specialty treatment centers generate the majority of Acadia's revenue in the U.S., primarily funded by Medicaid and commercial payors. In the United Kingdom, most revenue is derived from healthcare facilities, with payments predominantly received from the National Health Service (NHS).
Recent Developments and Achievements
Acadia is continually expanding its reach and capabilities. Recent noteworthy projects include:
- Joint Ventures: A collaboration with Ascension Seton to develop a 106-bed expansion at Cross Creek Hospital in Austin, Texas, boosting the facility's licensed bed count to 196 by late 2024. Similar joint ventures are ongoing with other top healthcare providers like Orlando Health, Henry Ford Health, and Tufts Medicine.
- New Facilities: New facilities have been inaugurated, such as the 100-bed Agave Ridge Behavioral Hospital in Mesa, Arizona, and specialty centers like Sabal Palms Recovery Center near Tampa, Florida.
- Acquisitions: Acadia recently acquired three comprehensive treatment centers in North Carolina, enhancing its capacity to treat opioid use disorders through medication-assisted treatment combined with counseling and behavioral therapies.
- Financial Performance: For the year ending December 31, 2023, Acadia reported a revenue of $742.8 million for Q4, marking a 10% increase over the previous year. The company also plans to add approximately 1,200 new beds in 2024, reflecting its aggressive growth strategy.
Strategic Partnerships and Growth Strategy
Acadia's strategic vision includes expanding its continuum of care via facility expansions, de novo facilities, joint ventures, acquisitions, and extending care options. These initiatives are designed to meet the escalating demand for high-quality behavioral health services. The company's financial robustness, with substantial cash reserves and low leverage ratios, ensures ongoing investments in growth and operational enhancements.
Community Impact and Future Outlook
Acadia Healthcare is not just about providing care; it’s about creating a sustainable future for behavioral health. The company's focus on quality, community partnerships, and clinical excellence positions it as a pivotal entity in the healthcare sector, addressing critical mental health and substance abuse issues across diverse populations.
Acadia Healthcare Company has appointed
Acadia Healthcare (NASDAQ: ACHC) announced that select facilities will participate in a trial studying suicidal ideation and behavior in major depression, sponsored by Seelos Therapeutics (NASDAQ: SEEL) for the SLS-002 drug. This drug, an intranasal ketamine, aims to address an unmet need for treating these conditions. The trial includes a five-dose treatment regimen over 15 days. Acadia's involvement underscores its mission to deliver innovative care, with promising preliminary results for SLS-002.
Seelos Therapeutics (SEEL) has announced the participation of Acadia Healthcare (ACHC) in a registration-directed Proof of Concept study for SLS-002, intranasal racemic ketamine, targeting Acute Suicidal Ideation and Behavior (ASIB) in patients with Major Depressive Disorder (MDD). This collaborative effort seeks to evaluate the efficacy and safety of SLS-002 in patients at imminent risk of suicide. Acadia operates a well-established network of behavioral health facilities, treating thousands daily, enhancing the study's potential impact.
Acadia Healthcare Company (NASDAQ: ACHC) reported second-quarter financial results for 2022, showcasing a revenue of $651.7 million, a rise of 11.9% year-over-year. Net income hit $80.1 million, translating to $0.88 per diluted share. Adjusted EBITDA reached $165.9 million, or $157.3 million when excluding income from the Provider Relief Fund (PRF). The company is on track to add 300 beds by year-end and anticipates continued growth in behavioral healthcare services. Acadia raised its 2022 guidance for revenue between $2.56 to $2.60 billion.
Acadia Healthcare Company (NASDAQ: ACHC) has announced a joint venture with ECU Health to build a 144-bed behavioral health hospital in Greenville, North Carolina. Set to open in spring 2025, the facility will include 24 inpatient beds specifically for children and adolescents, the first in ECU Health's service area. The joint investment is approximately $65 million, aimed at enhancing behavioral health resources in eastern North Carolina. This facility will also function as a teaching hospital, supporting the training of medical students and residents.
Acadia Healthcare and ECU Health will build a new 144-bed behavioral health hospital in Greenville, North Carolina, set to open in spring 2025. This facility is part of a joint investment of approximately $65 million and aims to enhance access to behavioral health services for the community. The hospital will provide specialized care, including 24 beds for children and adolescents, the first of their kind in the region. Construction is expected to start in 2023, pending regulatory approvals, and aligns with a growing need for mental health resources in North Carolina.
Acadia Healthcare Company (NASDAQ: ACHC) plans to release its Q2 2022 results on July 27, 2022, post-market close. Subsequently, a conference call for investors and analysts is scheduled for July 28, 2022, at 9:00 a.m. ET, with a live webcast available on their website. As of March 31, 2022, Acadia operates 238 facilities with around 10,600 beds across 40 states and Puerto Rico, serving approximately 70,000 patients daily, making it the largest stand-alone behavioral health company in the U.S.
Tufts Medicine and Acadia Healthcare have announced a joint venture to develop a 144-bed inpatient behavioral health facility in Malden, Massachusetts, with a total investment of $65 million. This facility aims to enhance access to high-quality behavioral health services for patients of all ages in the Greater Boston area. The new hospital will replace the former Malden Hospital and include comprehensive inpatient and intensive outpatient care programs. This initiative addresses the growing demand for behavioral health services, particularly for adolescents facing long wait times in emergency departments.
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.
Acadia Healthcare Company (NASDAQ: ACHC) announces the appointment of R. David Kelly as an independent director on its Board of Directors. Kelly brings over 35 years of experience in financial advisory and real estate development. He founded StraightLine Realty Partners and previously held significant positions at Goldman Sachs and Trammell Crow Company. His extensive background includes serving as chairman of the $197B Teacher’s Retirement System of Texas. Acadia aims to leverage Kelly's expertise to enhance strategic investments and growth in behavioral healthcare services.
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