Healthcare Business News

Acadia buys psychiatric hospital in Fla.

By Paul Barr
Posted: November 13, 2012 - 9:30 am ET

Acadia Healthcare Co., Brentwood, Tenn., announced it has purchased Park Royal Hospital, Fort Myers, Fla., for about $33.4 million in cash and assumed debt.

The 76-bed psychiatric hospital, which opened in March, can be expanded to 114 beds within the existing building, according to an Acadia news release.

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Acadia operates 34 behavioral-health facilities and wants to continue to buy more. “We are … continuing to evaluate additional acquisition opportunities in the fragmented inpatient behavioral health industry,” said Joey Jacobs, chairman and CEO of Acadia, in the release.

In September, Acadia bought inpatient behavioral-health facility Timberline Knolls, Lemont, Ill., for $90 million in cash.

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