Acadia Healthcare announced Wednesday it has completed the $662 million acquisition  of Partnerships in Care, the United Kingdom's second largest behavioral health provider.
"We are very pleased to enter the U.K. market for inpatient behavioral care with such a high quality provider and well-established market leader as PiC," Joey Jacobs, Acadia CEO, said in a release . "We continue to believe that favorable market dynamics in the U.K. present a significant opportunity for accretive growth. With PiC's strong management team, supported by Acadia's experienced organization and access to capital, we are confident that we are well positioned to achieve our expectations for growth in the U.K., both organically and through additional acquisitions."
Shares of Acadia (Ticker: ACHC ) were up 3 percent to $47.51 Wednesday morning. In the past 12 months, they're up 43 percent.