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ACADIA HEALTHCARE COMPANY, INC.

(ACHC)
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Acadia Healthcare : Bronson Healthcare Partners With Acadia Healthcare to Build New Behavioral Health Hospital to Serve Southwest Michigan

06/30/2021 | 11:02am EDT

Inpatient Treatment Facility Slated to Open in Early 2023

Bronson Healthcare and Acadia Healthcare Company announced today that they have formed a joint venture to build a 96-bed inpatient behavioral health facility in Battle Creek, Michigan. Together, they will develop, construct and operate the new state-of-the-art, single-story facility on a previously announced 25-acre site at Glenn Cross Road and M-66 in Battle Creek. Groundbreaking will occur this fall.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210630005086/en/

The new hospital represents an approximately $35 million investment that addresses the growing need in southwest Michigan for more accessible, high-quality behavioral health services. The new facility will offer a full continuum of inpatient behavioral health care for adult patients including comprehensive treatment for those who struggle with acute symptoms of mental health disorders such as anxiety, depression, bipolar disorder and posttraumatic stress disorder (PTSD).

Acadia Healthcare is the nation’s largest stand-alone behavioral healthcare company. It operates a network of 228 behavioral healthcare facilities with approximately 10,000 beds in 40 states and Puerto Rico. Acadia brings to the joint venture a commitment to patient-and family-centered care, strong clinical outcomes, and a proven track record of collaborating with health systems across the country.

“We’ve chosen to develop our behavioral health hospital with Acadia as our strategic partner because of their deep knowledge of the industry and their expertise in developing and operating inpatient behavioral health services,” said Bill Manns, President and Chief Executive Officer of Bronson Healthcare. “And, we have chosen Battle Creek as the location because of the talented workforce we have here who can bring their skills to the new facility and help us expand care to reach more patients and families from across the region.”

As part of the agreement, Bronson Battle Creek Hospital will transition inpatient behavioral health services from its Fieldstone Center building to the new hospital when it opens in early 2023.

“Acadia is proud to be partnering with the region’s leading health system to provide these life-saving services to individuals and families in southwest Michigan,” said Debbie Osteen, Chief Executive Officer of Acadia Healthcare. “We look forward to joining forces with Bronson to create a facility that fosters hope and healing and meets the increasing need for better access to acute behavioral health services in these communities.”

Through the joint venture, Acadia and Bronson intend to develop innovative care delivery models that better integrate services for physical and mental health. Acadia, like Bronson, is committed to being a strong community partner, collaborating with many organizations, hospitals and first responders across the region.

About Bronson Healthcare

Bronson Healthcare is a not-for-profit, community-governed health system serving nine counties in southwest Michigan. With 8,400 employees, more than 1,500 medical staff members, and 796 licensed beds, Bronson is the largest employer and leading healthcare system in southwest Michigan. It offers a full range of services from primary care to critical care across more than 100 locations. Key member organizations include Bronson Methodist Hospital, Bronson Battle Creek Hospital, Bronson LakeView Hospital, Bronson South Haven Hospital, Bronson Medical Group, Bronson at Home, Bronson Commons, Bronson Athletic Club, Bronson Wellness Center and the Bronson Health Foundation.

About Acadia Healthcare

Acadia is a leading provider of behavioral healthcare services across the United States. As of March 31, 2021, Acadia operated a network of 228 behavioral healthcare facilities with approximately 10,000 beds in 40 states and Puerto Rico. With more than 20,000 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.


© Business Wire 2021
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Financials (USD)
Sales 2021 2 307 M - -
Net income 2021 174 M - -
Net Debt 2021 1 300 M - -
P/E ratio 2021 31,8x
Yield 2021 -
Capitalization 5 501 M 5 501 M -
EV / Sales 2021 2,95x
EV / Sales 2022 2,73x
Nbr of Employees 35 400
Free-Float 98,7%
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Number of Analysts 14
Last Close Price 61,22 $
Average target price 73,75 $
Spread / Average Target 20,5%
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Managers and Directors
Debra Kay Osteen Chief Executive Officer & Director
David M. Duckworth Chief Financial Officer
Reeve Byron Waud Chairman
Michael V. Genovese Chief Medical Officer
John S. Hollinsworth Executive Vice President-Operations