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.
The Schall Law Firm announces an investigation into Acadia Healthcare Company, Inc. (NASDAQ:ACHC) for potential securities law violations. The probe follows a New York Times report published on September 1, 2024, titled 'How a Leading Chain of Psychiatric Hospitals Traps Patients.' The article alleges that Acadia has been luring patients into its facilities and holding them against their will, even when not medically necessary. This practice has reportedly occurred in at least 12 of the 19 states where Acadia operates psychiatric hospitals. The news caused Acadia's shares to fall by 4.5% on September 3, 2024. Shareholders who suffered losses are encouraged to participate in the investigation.
Methodist Jennie Edmundson Hospital and Acadia Healthcare Company (ACHC) have broken ground on a new 96-bed behavioral health hospital in Council Bluffs, Iowa. The facility, named Methodist Jennie Edmundson Behavioral Health, is set to open in 2026 and will serve western Iowa and eastern Nebraska residents. The hospital will include 24 beds dedicated to children and adolescents and provide intensive outpatient services.
This joint venture aims to address a significant shortfall of over 300 inpatient behavioral health beds in Iowa and Nebraska. The state-of-the-art facility will focus on treating acute symptoms of mental health and substance use disorders, utilizing the latest technology and resources. The project demonstrates Methodist and Acadia's commitment to expanding access to high-quality behavioral health services in the region.
Acadia Healthcare Company (NASDAQ: ACHC) reported strong financial results for Q2 2024. Revenue increased 8.8% to $796.0 million, with same facility revenue up 8.3%. Net income reached $78.5 million, or $0.85 per diluted share. Adjusted EBITDA grew 7.6% to $187.6 million. The company added 37 beds to existing facilities and opened a new 100-bed hospital in Arizona.
Acadia updated its 2024 guidance, projecting revenue of $3.180 to $3.225 billion and adjusted EBITDA of $735 to $765 million. The company plans to add approximately 1,200 beds in 2024 and open four additional inpatient facilities in H2. With a strong financial position and strategic growth initiatives, Acadia aims to address the increasing demand for behavioral health services across the United States.
Acadia Healthcare Company, Inc. (NASDAQ: ACHC) has announced the release date for its second quarter 2024 earnings report. The company will disclose its financial results on Wednesday, July 31, 2024, after the market closes. Following the release, Acadia will host a conference call with institutional investors and analysts on Thursday, August 1, 2024, at 9:00 a.m. ET. Interested parties can access a live broadcast of the conference call through the 'Investors' section of Acadia's website at www.acadiahealthcare.com. The webcast will remain available for 30 days after the call.
Acadia Healthcare (NASDAQ: ACHC) celebrated the 'Every Bite A Battle' program at its Timberline Knolls Residential Treatment Center in Lemont, Illinois. This initiative highlights the success stories of alumnae overcoming eating disorders, anxiety, depression, and trauma through transformative portraits. The campaign underscores the complex nature of eating disorders and the daily victories over related mental health challenges. Heather Seiler, an alumna, shared her journey of overcoming her struggles with the support of professionals and loved ones. Acadia Healthcare's Chief Marketing Officer, Mark Palmenter, emphasized that the project aligns with Acadia's mission to 'Lead Care with Light' and aims to inspire others facing similar challenges.
Acadia Healthcare (NASDAQ: ACHC) announced its participation in the 2024 Leerink Partners Healthcare Crossroads Conference. The event will take place from May 28 to May 30, 2024, at the Omni Barton Creek Resort & Spa in Austin, Texas.
There will be an online webcast of Acadia's presentation available on the company's website at 9:20 a.m. Central Time on May 29, 2024. The webcast will be accessible through the 'Investors' section of the website, and a replay will be available for 30 days.
Geisinger and Acadia Healthcare held a groundbreaking ceremony for the construction of a new state-of-the-art, 96-bed behavioral health hospital in Danville, Pennsylvania. The hospital, set to open in spring 2025, will offer inpatient, outpatient, and ECT treatment programs, addressing the need for high-quality behavioral health services in central Pennsylvania and serving adult, pediatric, and adolescent patients.
Acadia Healthcare Company, Inc. (NASDAQ: ACHC) will participate in the BofA Securities Health Care Conference in Las Vegas, Nevada on May 14-16, 2024. The Company's presentation will be webcast on their website at 6:20 p.m. CT / 4:20 p.m. PT on May 14th, 2024, with a replay available for 30 days.
Acadia Healthcare reported solid financial results for the first quarter of 2024 with revenue totaling $768.1 million, a 9.1% increase year-over-year. Same facility revenue increased by 9.2%, net income was $76.4 million, adjusted EBITDA was $173.9 million, and adjusted EBITDA margin was 22.6%. The company affirmed its full year 2024 guidance with revenue expected to range between $3.18 to $3.25 billion and adjusted EBITDA between $730 to $770 million.
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