US-based Acadia Healthcare Company has concluded the acquisition of CenterPointe Behavioral Health System in the state of Missouri.
CenterPointe also operates behavioral health network through regional hubs in St. Louis, Kansas City and Columbia.
Acadia Healthcare CEO Debbie Osteen said: “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.”
As part of the deal, Acadia acquired four inpatient hospitals with 260 acute care bed capacity, as well as 46 specialty beds for substance use and ten outpatient locations.
To fund this deal, Acadia used a combination of cash on hand, as well as borrowings through its revolving credit facility.
The acquisition is expected to expand Acadia’s service offerings and continuum of care in Missouri.
Osteen added: “Acadia has a proven operating model, and as we acquire these facilities and programs, we expect to benefit from the additional scale and realise 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 behavioural healthcare services.”
Last December, Acadia and SCL Health formed a joint venture to construct a new 144-bed facility in the Denver area. The health facility is expected to open by mid-2023.