Acadia Healthcare, a publicly traded behavioral healthcare provider, has acquired Quality Addiction Management, adding seven Wisconsin treatment centers.
The $53 million transaction will contribute about $0.03 to $0.04 to Acadia's earnings per share this year, the company said in a release Monday.
Quality's CEO, Dr. Michael Goldstone, will become Acadia's chief medical officer for its comprehensive treatment centers.
Acquisitions have been one of the prime factors helping to drive profitability at the Franklin, Tenn.-based chain. Full-year 2014 income nearly doubled year-over-year while revenue increased 40.8%, according to its most recent earnings report.
The company attributed the revenue growth to five acquisitions that added 27 facilities and more than 1,400 beds.
Acadia this quarter also closed its $1.2 billion acquisition of CRC Health Group, a Cupertino, Calif.-based behavioral health operator and portfolio company of Bain Capital Partners.
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