Acadia Healthcare said Tuesday morning it has acquired a brand new psychiatric hospital in Ft. Myers, Fla., for about $33 million.
The purchase of Park Royal Hospital, which has 76 beds and opened its doors in March, is in the form of cash and assumed debt and gives Acadia its first location in the Sunshine State. The facility can be expanded to 114 beds and is still ramping up its patient count. As a result, Acadia executives say it will have a neutral impact on the company's earnings for 2012 but is expected to add to profits next year.
“We are very pleased to announce this purchase of a new facility in an attractive, underserved market,” said Joey Jacobs, chairman and CEO of Acadia. “We are confident of our ability to continue building the facility’s census. Consistent with our acquisition strategy, we believe Park Royal has the potential to produce significant long-term organic growth.”
In early Tuesday trading, Acadia shares (Ticker: ACHC) were down 1.2 percent to $21.16. Year to date, they’re up more than 110 percent.
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