Healthcare Business News

Acadia acquires psych hospital in first deal with a not-for-profit

By Melanie Evans
Posted: January 8, 2013 - 12:00 pm ET

Acadia Healthcare Co., a behavioral-health hospital company based in Franklin, Tenn., announced it has acquired a Valdosta, Ga.-based psychiatric hospital from the South Georgia Medical Center, Valdosta, marking its first deal with a not-for-profit organization.

Terms of the deal, which closed Jan. 1, were not disclosed, an Acadia spokeswoman said.

Joey Jacobs, Acadia's chairman and CEO, said in a written statement that the investor-owned for-profit company acquired the 50-bed Greenleaf Center because it was a freestanding, acute-care psychiatric hospital in a strong and underserved market.

The deal is Acadia's first transaction with a not-for-profit, but it may not be its last. “We believe the non-profit segment of the healthcare industry has the potential to be a meaningful source of additional acquisition opportunities,” Jacobs said separately in a news release announcing the deal.

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At the end of December, Acadia closed on its previously announced $145 million deal for Behavioral Centers of America and its $113 million deal for AmiCare Behavioral Centers.

A South Georgia Medical Center spokeswoman did not respond to a request for comment by deadline.

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