Plotted by close date where disclosed, otherwise announcement. Select any marker to jump to the deal entry.
Three patterns run through Acadia Healthcare's acquisitions — what it looks for, how it pays, and how it folds in what it buys.
16 acquisitions — each with the deal value, financing structure, target revenue, and executive commentary where disclosed.
On April 1, 2011 Acadia acquired Youth and Family Centered Services, Inc. (YFCS), the largest private, for-profit provider of behavioral health, education and long-term support services exclusively for abused and neglected children and adolescents. At acquisition YFCS operated 13 facilities in eight states. Its services include residential treatment care, community-based services, acute care, specialized education services, therapeutic group homes, therapeutic foster care, and medical and behavioral services. The YFCS purchase was the platform deal that Acadia built its public company around, completed roughly seven months before the PHC reverse merger took Acadia public. approximately $178.0 million.
On April 1, 2011, we acquired Youth and Family Centered Services, Inc. (“YFCS”), the largest private, for-profit provider of behavioral health, education and long term support services exclusively for abused and neglected children and adolescents.Acadia Healthcare FY2011 Form 10-K — Business
On November 1, 2011 Acadia completed its merger with PHC, Inc., a publicly traded behavioral health services company operating under the Pioneer Behavioral Health brand. The transaction took Acadia public — its common stock began trading on the NASDAQ Global Market under the symbol ACHC the same day. On a combined basis the merged company operated 34 facilities with approximately 1,950 licensed beds across 18 states, which would have produced annual revenues of more than $325 million on a pro forma basis for the twelve months ended June 30, 2011. approximately $285 million (stock-for-stock merger plus assumed debt); ~$44.0 million cash component.
The completion of this merger brings a great team of dedicated and skilled professionals to Acadia and an outstanding portfolio of facilities and services. In addition, by improving the Company's access to capital as a public company, the transaction enhances our ability to drive Acadia's growth through additional acquisitions in the highly fragmented behavioral health care services industry.Joey Jacobs — Chairman and Chief Executive Officer, Acadia Healthcare
Acadia acquired three inpatient psychiatric hospitals from Haven Behavioral Healthcare for $91 million in cash. The facilities, with an aggregate of 166 acute inpatient psychiatric beds and total revenues of approximately $43.4 million for the twelve months ended December 31, 2011, are located in Tucson, Arizona; Dayton, Ohio; and eastern Pennsylvania.
Acadia Healthcare Company, Inc. ... today announced that it has completed the previously announced acquisition of three inpatient psychiatric hospitals from Haven Behavioral Healthcare for $91 million in cash. The facilities, with an aggregate of 166 acute inpatient psychiatric beds and total revenues of $43.4 million for the 12 months ended December 31, 2011 ...Acadia Healthcare press release — March 5, 2012
Acadia acquired Timberline Knolls, a 122-bed inpatient behavioral healthcare facility located near Chicago in Lemont, Illinois — its first facility in Illinois. Total consideration to purchase the operations plus a related real-estate transaction was $90 million in cash. The facility produced revenues of approximately $33 million for the twelve months ended June 30, 2012. Acadia planned an 18-bed expansion to bring the facility to 140 beds.
We are pleased to announce the addition of Timberline Knolls, a growing, profitable and well-run facility, to Acadia's expanding base of inpatient psychiatric facilities. In addition to bringing an outstanding staff of behavioral healthcare professionals to Acadia, we expect this transaction to be accretive to our 2012 financial results in a range of $0.04 to $0.05 per diluted share.Joey Jacobs — Chairman and Chief Executive Officer, Acadia Healthcare
On December 31, 2012 Acadia completed the previously announced acquisitions of Behavioral Centers of America, LLC and AmiCare Behavioral Centers. Together the two transactions brought eight inpatient psychiatric facilities and over 600 licensed inpatient beds to Acadia. Concurrently Acadia expanded and extended its senior secured credit facility to a $300 million term loan plus a $100 million revolver at a rate 100 basis points lower than the prior facility. $143.7 million total cash consideration.
We are very pleased to have closed 2012 with two significant acquisitions, which together bring eight inpatient psychiatric facilities and over 600 licensed inpatient beds to Acadia. In addition, our amended credit facility and equity financing position us well to continue implementing our acquisition strategy in 2013.Brent Turner — President, Acadia Healthcare
On July 1, 2014 Acadia acquired Partnerships in Care (PiC), the second-largest independent provider of inpatient behavioral healthcare services in the United Kingdom, for approximately $662 million in cash. PiC operated 23 inpatient psychiatric facilities with over 1,200 beds and produced 2013 revenue of approximately $285 million and adjusted EBITDA of approximately $75 million. The deal marked Acadia's entry into the U.K. market. approximately $662 million (cash); $661.7 million net of cash acquired per FY2015 10-K.
We are very pleased to enter the U.K. market for inpatient behavioral care with such a high quality provider and well-established market leader as PiC. We continue to believe that favorable market dynamics in the U.K. present a significant opportunity.Joey Jacobs — Chairman and Chief Executive Officer, Acadia Healthcare
On February 11, 2015 Acadia completed the acquisition of CRC Health Group, Inc. for total consideration of approximately $1.3 billion. As consideration Acadia issued approximately 5.975 million shares of its common stock to certain holders of CRC common stock and repaid CRC's outstanding indebtedness. CRC was a leading provider of addiction-treatment and related behavioral services, materially expanding Acadia's U.S. substance-abuse-treatment platform. approximately $1.3 billion (total consideration).
On February 11, 2015, we completed the acquisition of CRC for total consideration of approximately $1.3 billion. As consideration for the acquisition, we issued 5,975,326 shares of our common stock to certain holders of CRC common stock and repaid CRC's outstanding indebtedness.Acadia Healthcare FY2015 10-K — Acquisitions note
On February 16, 2016 Acadia completed the acquisition of Priory Group, the leading independent provider of behavioral healthcare services in the United Kingdom, for a total purchase price of approximately $2.2 billion — including total cash consideration of approximately $1.9 billion and the issuance of 4,033,561 shares of Acadia common stock. Priory operated 327 facilities with approximately 7,100 beds at December 31, 2015 and was expected to produce 2015 revenue of approximately $865 million and adjusted EBITDA of approximately $196 million. The deal made Acadia (with PiC) the leading independent provider of mental health services in the U.K. approximately $2.2 billion (total purchase price); ~$1.9B cash plus 4,033,561 Acadia shares.
Priory is a leading provider of behavioral healthcare services in the United Kingdom, operating more than 300 facilities with approximately 7,200 beds. For 2015, Priory is expected to produce revenue of approximately $865 million and adjusted EBITDA of approximately $196 million.Acadia Healthcare press release — January 4, 2016
A cohort of named, individually immaterial facility tuck-ins disclosed in Acadia's 10-K Acquisitions notes (date shown is a placeholder spanning 2014-2015; individual close dates are itemized below). 2014: Pacific Grove Hospital, Riverside CA (68 beds, ~$10M, Jan 1); McCallum Place, eating-disorder facility (85 beds, Sep 3); Croxton/Warwick Lodge, England (24 beds, ~$15M, Dec 1); Skyway House, Chico CA (28 beds, Dec 31). 2015: Quality Addictions Management (QAM), seven comprehensive treatment centers in Wisconsin (~$54.8M, Mar 1); The Manor Clinic, England (15 beds, Jul 1); Belmont Behavioral Health, Philadelphia (147 beds, Jul 1); a controlling interest in Southcoast Behavioral, Fairhaven MA (Aug 31); Meadow View, England (28 beds, Oct 1); and certain facilities from MMO Behavioral Health Systems, Louisiana (two acute facilities, 80 beds, Dec 1). approximately $200 million combined across the named small deals (largest disclosed: QAM ~$54.8M).
On March 1, 2015, we acquired the stock of QAM for total consideration of approximately $54.8 million. QAM operates seven comprehensive treatment centers located in Wisconsin.Acadia Healthcare FY2015 10-K — Acquisitions note
A cohort of named, individually immaterial facility tuck-ins disclosed in Acadia's 10-K Acquisitions notes (date shown is a placeholder spanning 2016-2017): Serenity Knolls, Forest Knolls CA (30 beds, Apr 1, 2016); TrustPoint Hospital, Murfreesboro TN (100 beds, May 1, 2016); Pocono Mountain Recovery Center, Henryville PA (108 beds, Jun 1, 2016); and Aspire Scotland, an education facility in Scotland (36 beds, ~$2M, Nov 13, 2017). These were among Acadia's last sizeable U.S. facility purchases before the company shifted toward joint ventures and de novo development.
On May 1, 2016, we completed the acquisition of TrustPoint Hospital, an inpatient psychiatric facility with 100 beds located in Murfreesboro, Tennessee.Acadia Healthcare FY2017 10-K — Acquisitions note
On December 31, 2021 Acadia acquired the equity of CenterPointe Behavioral Health System, LLC and certain related entities for cash consideration of approximately $140 million. The deal expanded Acadia's U.S. inpatient psychiatric footprint and was its largest single U.S. acquisition after the company exited the United Kingdom in early 2021.
On December 31, 2021, we acquired the equity of CenterPointe Behavioral Health System, LLC and certain related entities (“CenterPointe”) for cash consideration of approximately $140 million.Acadia Healthcare FY2023 10-K — Acquisitions note
Two recent named U.S. tuck-ins disclosed in Acadia's 10-K Acquisitions notes (date shown is a placeholder for the cohort): on November 7, 2022 Acadia acquired four comprehensive treatment centers (CTCs) located in Georgia from Brand New Start Treatment Centers; and on February 22, 2024 Acadia acquired substantially all of the assets of Turning Point Centers, a 76-bed specialty provider of substance use disorder and primary mental health treatment services supporting the Salt Lake City, Utah metropolitan market. These represent Acadia's continued, selective tuck-in activity alongside its primary growth pathways of joint ventures and de novo facilities.
On February 22, 2024, we acquired substantially all of the assets of Turning Point Centers (“Turning Point”), a 76-bed specialty provider of substance use disorder and primary mental health treatment services that supports the Salt Lake City, Utah, metropolitan market.Acadia Healthcare FY2025 10-K — Acquisitions note
Acadia acquired Adventist Health Vallejo, a 61-bed inpatient psychiatric hospital in Solano County in the San Francisco Bay Area of California that provides inpatient and outpatient behavioral health care. The facility is one of the region's leading behavioral health treatment centers. Acadia said it planned to invest in the hospital and explore expanding its services.
Acadia acquired three behavioral health facilities in Chicago, Illinois, operated collectively as Montrose Behavioral Health Hospital, totaling 161 beds — a 60-bed children's hospital with an outpatient center and a 101-bed adult hospital. Acadia planned significant infrastructure improvements before reopening the facilities, with the children's hospital targeted for summer 2022 and the adult hospital for early 2023.
Acadia acquired three Comprehensive Treatment Centers in Raleigh, Greenville, and Hillsborough, North Carolina. The centers operate as medication-assisted treatment clinics serving people struggling with opioid use disorder. The acquisition brought Acadia's North Carolina CTC total to 10.
Acadia acquired three opioid addiction treatment clinics in Clinton, Easley, and Ridgeland, South Carolina, rebranding them into its Comprehensive Treatment Center network. The centers provide medication-assisted treatment for people struggling with opioid addictions.