Universal Health Services (UHS) has entered an agreement and received Federal Trade Commission (FTC) approval to buy Foundations Recovery Network (Foundations) for $350m.

The acquisition will add 322 residential beds in four facilities and eight outpatient centres. There are also more than 140 expansion beds in the pipeline.

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Foundations Recovery Network is one of the leaders in addiction treatment. It is focused on treating adults with co-occurring addiction and mental health disorders through an evidence-based integrated treatment model in residential and outpatient settings.

"We were attracted to their proven track record of providing high-quality treatment and reputation for excellence in this very attractive market segment."

It has a sophisticated direct to consumer marketing model, which includes a call centre, a national sales team and an industry leading web marketing programme.

The acquisition will serve as a platform for growth in a new substance use disorder service line for UHS.

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Universal Health Services Board chairman Alan Miller said: "We are pleased to announce the forthcoming acquisition of Foundations.

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"We were attracted to their proven track record of providing high-quality treatment and reputation for excellence in this very attractive market segment.

"They bring expertise as a published authority on integrated treatment and also have excellent clinical programmes and customer relationships."

UHS, which operates through its subsidiaries, behavioural health facilities, acute care hospitals, and ambulatory centres throughout the US, Puerto Rico, the UK and the US Virgin Islands, expects to complete the deal within the next few weeks.