Analysts at Standard & Poor's have upgraded their outlook on the debt of Acadia Healthcare to 'positive' from 'stable,' saying things are going accordingly to plan — if not better — at the Franklin-based operator of behavioral health care facilities. Acquisitions are on pace to add $75 million in revenues this year, a number that should grow significantly in 2013 as CEO Joey Jacobs and his team grow their network.
The company has successfully expanded margins at its 2011 acquired facilities by at least 60 basis points (bps). Our 2013 assumptions also incorporate our expectation that the company will continue to acquire higher margin acute in-patient psychiatric facilities that will contribute about $130 million in revenues.
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