AP News

Acadia Healthcare buys IL facility for $90M


FRANKLIN, Tenn. (AP) — Acadia Healthcare Co., which provides inpatient behavioral health care services, said Tuesday that it paid about $90 million to buy an inpatient facility near Chicago.

Acadia said it bought the Timberline Knolls facility in Lemont, Ill. Timberline Knolls is its first facility in Illinois and that the hospital had about $33 million in revenue over the 12 months ended June 30. The purchase should add 4 to 5 cents per share to Acadia's net income in 2012, and will add 16 cents per share to Acadia's net income in future years.

The company said Timberline Knolls currently has 122 beds, and another 18 are being added as part of an expansion. Another expansion is planned for 2013.

The $90 million purchase price covers the facility and its real estate.

Acadia Healthcare has 33 facilities in 19 states. Its shares rose $1.90, or 9.9 percent, to $21.08 on Tuesday.


The Good Business Issue
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus