Acadia acquires Delta Medical Center

Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced the purchase of Delta Medical Center, a 243-bed hospital in Memphis, TN, with the majority of operating beds dedicated to acute inpatient psychiatric patients.

Joey Jacobs, Chairman and Chief Executive Officer of Acadia, commented, "The purchase of Delta Medical Center represents a great opportunity for Acadia to enter the Memphis market with a high quality facility and an outstanding medical staff. It also gives us the opportunity to treat acute inpatient psychiatric patients with medical complications. Consistent with our acquisition strategy, we expect this transaction will be accretive to our financial results, and we further note that, with a license for 243 total beds, not all of which are currently in operation, the facility has significant capacity for expansion. This purchase is the second Acadia has completed this year, and we continue to evaluate additional transactions in the fragmented and underserved inpatient psychiatric market."