Acadia Healthcare to Acquire Two Acute Inpatient Psychiatric Facilities in Puerto Rico and Florida

Fri Apr 5, 2013 6:50am EDT

* Reuters is not responsible for the content in this press release.

FRANKLIN, Tenn.--(Business Wire)--
Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced that it has
signed a definitive purchase agreement with Ten Broeck Tampa, Inc. and
Capestrano Investment Company, Inc. to purchase two acute inpatient psychiatric
facilities. Acadia will acquire the San Juan Capestrano Hospital in San Juan,
Puerto Rico, which is licensed for 108 beds and has a certificate of need to
build 100 additional beds. San Juan Capestrano Hospital produced 2012 revenues
of approximately $25 million. Acadia will also acquire a 75-bed facility under
construction in Tampa, Florida. The Tampa facility is scheduled for opening in
the first quarter of 2014. Acadia expects to complete the purchase of these
facilities in the second quarter of 2013, subject to normal closing conditions,
for $91.8 million in cash plus construction costs for the Tampa facility. 

"Through this transaction, we will continue to expand our geographic footprint,
entering the Puerto Rico market for the first time and strengthening our
presence in Florida," said Joey Jacobs, Chairman and Chief Executive Officer of
Acadia. "These facilities are in attractive markets and reflect ongoing
opportunities to expand our business through accretive acquisitions. With the
highly skilled and experienced staff joining Acadia in San Juan and the
expansion potential of each facility, we also expect this transaction to support
Acadia`s long-term profitable growth. Upon completion of the purchase, we will
have acquired four inpatient psychiatric facilities with nearly 500 licensed
beds during 2013, and we are continuing to evaluate additional opportunities in
the fragmented and underserved inpatient psychiatric market." 

Forward-Looking Statements

This news release contains forward-looking statements. Generally words such as
"may," "will," "should," "could," "anticipate," "expect," "intend," "estimate,"
"plan," "continue," and "believe" or the negative of or other variation on these
and other similar expressions identify forward-looking statements. These
forward-looking statements are made only as of the date of this news release. We
do not undertake to update or revise the forward-looking statements, whether as
a result of new information, future events or otherwise. Forward-looking
statements are based on current expectations and involve risks and uncertainties
and our future results could differ significantly from those expressed or
implied by our forward-looking statements. Factors that may cause actual results
to differ materially include, without limitation, (i) Acadia`s ability to obtain
financing for pending and future acquisitions within timeframes and on terms
acceptable to Acadia, if at all; (ii) Acadia`s ability to complete acquisitions
and successfully integrate the operations of the acquired facilities; (iii)
Acadia`s ability to add beds, expand services, enhance marketing programs and
improve efficiencies at its facilities; (iv) potential reductions in payments
received by Acadia from the government and third-party payors; (v) the risk that
Acadia may not generate sufficient cash from operations to service its debt and
meet its working capital and capital expenditure requirements; and (vi)
potential operating difficulties, client preferences, changes in competition and
general economic or industry conditions that may prevent Acadia from realizing
the expected benefits of its business strategy. These factors and others are
more fully described in Acadia`s periodic reports and other filings with the

About Acadia

Acadia is a provider of inpatient behavioral healthcare services. Acadia
operates a network of 44 behavioral health facilities with over 3,400 licensed
beds in 21 states. Acadia provides psychiatric and chemical dependency services
to its patients in a variety of settings, including inpatient psychiatric
hospitals, residential treatment centers, outpatient clinics and therapeutic
school-based programs.

Acadia Healthcare Company, Inc.
Brent Turner, 615-861-6000

Copyright Business Wire 2013

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