Acadia Healthcare Explained

Acadia Healthcare Company, Inc.
Type:	Public
Num Employees:	28,600
Num Employees Year:	2020

Acadia Healthcare Company, Inc. is an American provider of for-profit behavioral healthcare services. It operates a network of over 225 facilities across the United States and Puerto Rico.^[1] The company has

The company has been investigated for unethical practices multiple times, and involved in multiple lawsuits, including:

• Sexual abuse In November 2023, Acadia Healthcare settled three cases for $400 million, alleging that a nonprofit operated by a former New Mexico facility placed children in foster care where they were sexually abused. In January 2024, a New Mexico jury awarded $485 million in damages to a child and her guardians in a related case. The jury ordered Acadia Healthcare to pay $80 million in compensatory damages and $250 million in punitive damages.
• Securities fraud In January 2021, Robbins Geller defeated a motion to dismiss in the case *St. Clair County Employees' Retirement System v. Acadia Healthcare Company, Inc.*, which involved securities fraud.
• Wage and hour violations Acadia Healthcare has been involved in multiple wage and hour violations, including in 2013, 2018, and 2010.

Overview

The company was founded in January 2005, and is headquartered in Franklin, Tennessee.^{[2] [3]} More recently, the company had signed a deal with the Florida healthcare system in order to expand its programs.^[4]

In 2022 it opened a new children’s hospital in Chicago, a joint venture facility in Knoxville, and two new Comprehensive Treatment Centers. Revenue for the third quarter of the year was $666.7 million, an increase of 13.5% over the third quarter of 2021. It had a network of 242 behavioral healthcare facilities with approximately 10,800 beds in 39 states and Puerto Rico. 300 new beds are planned to be opened during the year. ^[5]

Operations

United States

Acadia operates facilities assisting patients with behavioral problems, PTSD, trauma, eating disorders and substance abuse.^[6] In 2022 it had about 22,500 employees and a daily patient census of about 70,000 patients and was said to be the largest pure-play behavioral health company.^[7]

United Kingdom

In June 2014, Acadia bought Partnerships in Care, a British provider of mental health and social care services, and acquired the mental health assets of Care UK in May 2015.^[8]

The company has been investigated by the Competition and Markets Authority in the UK in order to deal with concerns about the impact of its acquisition of Priory Group on competition. It sold 22 behavioral health facilities for £320 million to BC Partners in October 2016.^[9]

Notes and References

1. Web site: 2021-04-29. Acadia Healthcare Reports First Quarter 2021 Results and Increases 2021 Guidance. 2021-05-19. www.businesswire.com. en.
2. Web site: Acadia Healthcare to Participate in the BofA Securities 2021 Healthcare Conference and the 2021 RBC Capital Markets Global Healthcare Conference. 2021-05-19. finance.yahoo.com. en-US.
3. Web site: Global Behavioral Health Market 2021 Industry Opportunities and Challenges Analysis 2026 – Acadia Healthcare, CareTech Holdings, The MENTOR Network. 2021-05-19. The Courier. en-US.
4. Web site: Acadia inks deal with Florida health system. 2021-12-04. Nashville Post. 3 December 2021 . en.
5. News: CORRECTING and REPLACING Acadia Healthcare Reports Third Quarter 2022 Results . 7 November 2022 . Businesswire . 31 October 2022.
6. News: New psychiatric hospital to provide mental health services. 23 December 2016. Greenville on line. 4 December 2016.
7. News: Acadia Healthcare Taps Walgreens Vet Dr. Nasser Khan to Lead Largest Segment . 7 November 2022 . Behavioral Health Business . 19 September 2022.
8. News: Mears Group acquires Care UK's domiciliary care service for £11.3m. 13 June 2015. HealthInvestor. 1 June 2015.
9. News: BC PARTNERS AGREES £320M DEAL FOR 22 PRIORY CLINICS. 23 December 2016. Insider media. 21 October 2016.