Acadia Healthcare Company, Inc. announced the Company has completed the acquisition of CenterPointe Behavioral Health System, the largest dedicated behavioral healthcare provider in the state of Missouri. The acquired assets consist of four inpatient hospitals with 260 acute care beds and 46 specialty beds for substance use and 10 outpatient locations. CenterPointe operates behavioral health networks through regional hubs in St. Louis, Kansas City and Columbia. Acadia funded the acquisition through a combination of cash on hand and borrowings under the Company’s revolving credit facility.
Commenting on the announcement, Debbie Osteen, Chief Executive Officer of Acadia Healthcare, stated, “The acquisition of CenterPointe provides a unique opportunity for Acadia to extend our footprint in high growth markets. This transaction aligns with our growth strategy to expand our operations through select acquisitions that meet the criteria of our disciplined capital allocation framework. As a certificate of need state, Missouri is an attractive market for an acquisition transaction.
“Acadia has a proven operating model, and as we acquire these facilities and programs, we expect to benefit from the additional scale and realize cost synergies. We also intend to make investments in future growth opportunities by expanding the facilities and adding service offerings to further enhance the continuum of care and meet the demand for behavioral healthcare services. The facilities will benefit from Acadia’s infrastructure through support by the corporate team that focuses on providing high quality patient care. We expect this transaction to be immediately accretive to our financial results.
“We also welcome the dedicated clinical staff associated with CenterPointe to Acadia, and we look forward to a smooth integration of our operations. We share a common culture focused on compassionate, patient-centered care. We are especially proud to continue CenterPointe’s specialized programs for military veterans and first responders. Together, we will focus on our primary objective to reach more patients and meet the critical demand for behavioral healthcare services in Missouri,” added Osteen.
