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Acadia Healthcare Company, Inc. reports developments tied to its national behavioral healthcare services business. The company owns and operates acute inpatient psychiatric facilities, specialty treatment facilities, comprehensive treatment centers, residential treatment centers and outpatient behavioral health clinics serving communities in the United States and Puerto Rico.
Recurring news for ACHC includes quarterly operating results, same-facility revenue, patient days, admissions, revenue per patient day, adjusted EBITDA guidance and performance across its facility categories. Company updates also cover facility network changes, investor conference participation, board composition, executive leadership transitions and operational initiatives in behavioral healthcare and recovery services.
Acadia Healthcare Company (NASDAQ: ACHC) hosted its first Investor Day on December 7, 2022, in New York City. The management team shared insights into Acadia's behavioral healthcare services, growth strategy, and financial outlook. The company reaffirmed its 2022 guidance and provided initial guidance for 2023, estimating revenue between $2.79 billion and $2.86 billion, with Adjusted EBITDA projected at $630 million to $680 million. CEO Chris Hunter emphasized the strong demand for services and the company’s commitment to expanding market reach.
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Maple Heights Behavioral Health, a joint venture between Acadia Healthcare and Lutheran Health Network, opened its doors in Fort Wayne, Indiana. The 120-bed facility will provide inpatient mental healthcare for adults and seniors, addressing issues such as anxiety and depression. Construction began in 2021, and the hospital is set to complete regulatory certifications in the coming month. Community leaders expressed support for the new services aimed at bridging gaps in mental health care.
Acadia Healthcare has launched four new Comprehensive Treatment Centers (CTCs) in Georgia, enhancing its outpatient care services for adults dealing with opioid addiction. The facilities provide medication-assisted treatment (MAT) and therapy to support recovery, following the recent acquisition from Brand New Start Treatment Centers. Located in Cumming, Loganville, Dallas, and Woodstock, the CTCs aim to combat the opioid epidemic, operating Monday-Saturday with comprehensive care options. Acadia remains a leader in behavioral healthcare, managing 242 facilities across the U.S.
Acadia Healthcare (NASDAQ: ACHC) has acquired four comprehensive treatment centers (CTC) from Brand New Start Treatment Centers in the Atlanta area, expanding its CTC network to 148 facilities. This acquisition aims to bolster its medication-assisted treatment (MAT) programs, essential in addressing the growing opioid crisis. The CEO, Chris Hunter, emphasized the centers' operational success and potential for positive patient outcomes. Acadia currently operates 242 behavioral healthcare facilities across the U.S., serving about 70,000 patients daily.
Acadia Healthcare Company (NASDAQ: ACHC) will participate in the Credit Suisse 31st Annual Healthcare Conference from November 7-10, 2022, at Terranea Resort, Rancho Palos Verdes, California. The company's presentation will be webcast live from their website on November 8, 2022, starting at 10:25 a.m. Pacific Time. A replay will be available for 30 days. Acadia operates 242 behavioral healthcare facilities with approximately 10,800 beds across 39 states and Puerto Rico, serving about 70,000 patients daily.
Acadia Healthcare Company (NASDAQ: ACHC) reported a 13.5% increase in revenue, totaling $666.7 million for Q3 2022, compared to the same quarter last year. Same-facility revenue rose 10.2%, driven by a 6.9% increase in revenue per patient day. Net income was $71.1 million ($0.78 per share), and adjusted EBITDA reached $162.8 million. The company opened new facilities, including a children's hospital in Chicago, and continues to expand its service offerings. Financial guidance for 2022 is narrowed, estimating revenue between $2.58 billion and $2.60 billion.
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Acadia Healthcare Company (NASDAQ: ACHC) will release its Q3 2022 results on October 31, 2022, post-market. A conference call for institutional investors and analysts is scheduled for 9:00 a.m. ET on November 1, 2022. As of June 30, 2022, Acadia operates 239 facilities across the U.S. and Puerto Rico, providing services to approximately 70,000 patients daily. The company is the largest stand-alone behavioral health provider in the U.S., with over 22,500 employees and about 10,600 beds available.
On September 27, Acadia Healthcare and Henry Ford Health commenced construction on a new behavioral health facility in West Bloomfield, Michigan, expected to open in 2024. The hospital will span 120,000 square feet with an initial capacity of 184 inpatient beds, expandable to 192. This collaboration aims to address the surge in mental health needs exacerbated by the COVID-19 pandemic. The facility will also serve as an academic site, training future behavioral health providers.