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Acadia Healthcare to Expand With $258 Million in Acquisitions

By Rich Smith - Nov 27, 2012 at 2:54PM

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Purchases will bring eight inpatient psychiatric facilities with 600 beds.

Inpatient behavioral health care provider Acadia Healthcare Company ( ACHC 3.69% ) has announced agreements to buy Nashville-based Behavioral Centers of America, LLC, and Fayetteville, Ark.-based AmiCare Behavioral Centers for a combined $258 million.

The acquisitions will give Franklin, Tenn.-based Acadia a presence in Ohio for the first time, expanding the company's business into now 21 states. Together, the two companies bring with them eight inpatient psychiatric facilities with 600 beds, and more than $122 million in annual revenues. Thus, Acadia is paying 2.1 times sales for the acquisitions, a significant discount to the 2.5 times sales that its own shares fetch on the market today.

Both acquisitions are slated to close late next month. Acadia says it is evaluating how to fund the purchases.


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