Acadia Healthcare has expanded its United Kingdom portfolio with the acquisition of a 15-bed residential rehabilitation facility in Southampton, England. The Manor Clinic center focused on addiction treatments, a sector of the British health services market in which Acadia was not yet active.
"As in the U.S., the addictions treatment market in the United Kingdom is large, growing and highly fragmented," said Chairman and CEO Joey Jacobs. "We believe The Manor Clinic is a wonderful opportunity through which to launch our presence in addictions treatment in the U.K., a market that we are confident represents a significant long-term growth opportunity for the Company."
Franklin-based Acadia also has completed its purchase of Belmont Behavioral Health in the Philadelphia market. Shares of the company (Ticker: ACHC) are up about 1 percent Wednesday to about $79.15. So far this year, they're up almost 30 percent.
Two longtime Healthways analysts on Friday cut their price targets for the population health management play after new and interim CEO Alfred Lumsdaine said 2015 profits will not meet expectations. But both Brooks O'Neil at Dougherty and Sean Wieland at Piper Jaffray are not telling investors to stop buying the company's shares, keeping Healthways at 'buy' and 'overweight' ratings, respectively. O'Neil's target for Healthways, which on Friday fell 20 percent to $12.40 (Ticker: HWAY), has come all the way down to $15 from $25. Wieland is staying more upbeat: His target now stands at $25.50, down from $27.
The skies are decidedly brighter for shareholders of Acadia Healthcare, which has climbed about 25 percent so far in 2015 after rising by about a third last year. Mizuho Securities analysts see even better days ahead and have launched coverage of the Franklin-based company with an 'outperform' rating at a price target of $84. Acadia (Ticker: ACHC) closed Friday trading at $76.47.
Acadia Healthcare has secured the necessary approvals and permits to begin construction of a long-planned 40-bed addition at one of its hospitals in Central Ohio. An expansion was in the works when Franklin-based Acadia acquired Behavioral Centers of America in 2012. However, Acadia upsized the plans to add 40,000 square feet. Read more from Columbus Business First here.
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