Welcome to our dedicated page for Acadia Healthcar news (Ticker: ACHC), a resource for investors and traders seeking the latest updates and insights on Acadia Healthcar stock.
Acadia Healthcare Company Inc. (ACHC) delivers essential behavioral health services through inpatient psychiatric hospitals, residential treatment centers, and outpatient clinics nationwide. This news hub provides investors and industry professionals with authoritative updates on ACHC's operational developments, financial performance, and strategic initiatives.
Key resources include earnings announcements, partnership disclosures, facility expansion updates, and regulatory filings. Our curated feed ensures timely access to material events affecting this specialized healthcare provider, from new treatment program launches to leadership changes.
Monitor critical updates including patient care innovations, acquisition activity, and compliance developments in the behavioral health sector. Bookmark this page for consolidated access to ACHC's official communications and third-party analysis of market-moving events.
Acadia Healthcare Company (NASDAQ: ACHC) reported strong financial results for Q1 2023, with revenue of $704.3 million, reflecting a 14.2% increase compared to Q1 2022. Net income was $66.0 million or $0.72 per diluted share, with adjusted EBITDA of $151.3 million, an 11.6% increase year-over-year. The company is expanding its facilities, adding 106 beds in Q1 and targeting approximately 300 beds for the year. Acadia anticipates opening four new inpatient facilities and six comprehensive treatment centers in 2023. With a strong financial position, including $63.8 million in cash and $485 million available under its credit facility, Acadia reaffirmed its guidance for 2023, projecting revenue between $2.82 to $2.88 billion and adjusted EBITDA of $635 to $675 million.
Acadia Healthcare Company (NASDAQ: ACHC) will publish its first-quarter 2023 results on April 26, 2023, after market close. A conference call for analysts is scheduled for April 27, 2023, at 9:00 a.m. ET. Acadia operates 250 facilities with around 11,000 beds across 39 states and Puerto Rico, serving over 75,000 patients daily. Employing 23,000 staff, it stands as the largest standalone behavioral healthcare provider in the U.S.
The live broadcast of the conference call will be accessible on their website for 30 days.
Geisinger and Acadia Healthcare have appointed Kelly Ankenbrand as CEO of the new Geisinger Behavioral Health Center Northeast in Moosic, Pennsylvania, effective March 6. Ankenbrand succeeds Jenna Pacini, who will lead another Acadia hospital. This 96-bed facility aims to address the mental health care needs of the community, highlighted by the fact that 1 in 5 U.S. adults experience mental illness yearly. The hospitals, supported by a joint venture, are set to enhance inpatient behavioral health services in Pennsylvania, with a second facility planned in Danville.
Acadia Healthcare Company has commenced construction on the Agave Ridge Behavioral Hospital in Mesa, Arizona. The facility, set to open in early 2024, will feature 100 beds dedicated to acute care behavioral health services, addressing a critical gap in Maricopa County, which currently has a shortage of 893 behavioral health beds. Local leaders, including Mayor John Giles, attended the groundbreaking ceremony, emphasizing the hospital's importance in offering comprehensive treatment for various mental health disorders. With over 1 million residents in Arizona facing mental health challenges, Acadia aims to enhance community support and resources.
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