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CORRECTED-Acadia buys residential treatment facility in Illinois for $90 mln
September 4, 2012 / 11:51 AM / 5 years ago

CORRECTED-Acadia buys residential treatment facility in Illinois for $90 mln

(Corrects paragraph two to say Timberline had a revenue of about $33 mln, not earnings)

Sept 4 (Reuters) - Acadia Healthcare Company Inc said it bought a residential treatment facility for $90 million in cash, expanding its operations into Illinois.

The Timberline Knolls Residential Treatment Center, located near Chicago in Lemont, had revenue of about $33 million for the year ended June, Acadia said.

According to Timberline Knolls’ website, it treats women and adolescent girls suffering from eating disorders, substance abuse and mood disorders.

Acadia, which provides psychiatric services across 33 facilities in the United States, expects the deal to add 16 cents per share to its annual earnings.

For 2012, it will add about 4 to 5 cents per share, Acadia said.

Acadia plans to expand the 122-bed facility to 140 beds by the end of the year.

In March, Acadia acquired three in-patient psychiatric facilities in Texas and Oklahoma for $91 million.

Shares of Acadia closed at $19.18 on the Nasdaq on Friday. (Reporting By Vrinda Manocha in Bangalore; Editing by Sreejiraj Eluvangal)

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