Acadia Healthcare has inked yet another joint venture with a not-for-profit health system, this time partnering with Fairview Health Services to open a new hospital in Minnesota.
The for-profit health system and Fairview Health Services will design and build an inpatient mental health and addiction treatment facility serving the Minneapolis and St. Paul area, Franklin, Tennessee-based Acadia Healthcare announced Thursday. The partners expect to spend $50 million on the new hospital.
The hospital will have 144 inpatient mental health beds and will focus on delivering care in a calming, therapeutic environment, the health systems said in a news release.
"Acadia is proud to be collaborating with Fairview to build upon their exceptional behavioral health services," Acadia' Healthcare CEO Debbie Osteed said in the news release.
Fairview Health Services is the Twin Cities region's largest mental health and addiction care provider and has a responsibility to innovate, James Hereford, CEO of the Minneapolis-based health system, said in the news release.
"Improving access to and the quality of acute, inpatient mental health and addiction care is an important part of that commitment," Hereford said. "In partnership with a world-class provider like Acadia Healthcare, a new hospital will help us continue to evolve the care we deliver to our patients and community."
This is Acadia Healthcare's 16th joint venture partnership. Earlier this month, the company announced a partnership with Orlando Health that will expand Florida-based system's inpatient and outpatient behavioral health offerings. Acadia Healthcare, which has more than $2 billion in annual revenue, will also take over not-for-profit Orlando Health's only inpatient behavioral health program, which is housed at its Longwood hospital.
Acadia Healthcare also announced plans this year to build two freestanding behavioral health hospitals under a partnership with the Danville, Pennsylvania-based not-for-profit Geisinger.
