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.