by Lance Turner
Posted 11/27/2012 08:33 am
Updated 2 years ago
AmiCare Behavioral Centers LLC of Fayetteville is being acquired by publicly traded Acadia Healthcare Co. Inc. of Franklin, Tenn., for $113 million.
In a news release, AmiCare said it is the largest provider of behavioral health services in western Arkansas. It does business as Vista Health, operating three inpatient psychiatric treatment facilities in Fayetteville, Fort Smith and Texarkana.
It also operates the Piney Ridge Center, a residential treatment facility in Fayetteville, and the Ridgeview group home. The company also operates eight outpatient treatment centers throughout western Arkansas.
"Acadia is a national leader in providing behavioral services and we are pleased our facilities will be part of this growing national platform," Kyle Naples, AmiCare's chairman and CEO, said.
"We are assured that our patients will continue to receive the same standards for quality behavioral healthcare under Acadia’s ownership and direction."
Acadia Healthcare said AmiCare facilities produced revenue of $61.7 million for the 12 months ended Sept. 30.
Stephens Inc. of Little Rock is acting as financial advisor to AmiCare.
In addition to the AmiCare purchase, Acadia Healthcare also said it was buying Behavorial Centers of America of Nashville, Tenn., which operates four psychiatric facilities and has about 278 beds. Acadia Healthcare said it would buy the Nashville company for $145 million.
Acadia Healthcare (Nasdaq: %%ACHC%%), which operates 34 behavioral heath facilities with about 2,500 licensed beds in 20 states, said both deals will be complete in December.
"Today’s announcement provides further evidence of both our continuing opportunities to purchase well-run inpatient psychiatric facilities with high quality professional staffs and our ability to execute on these opportunities," Joey Jacobs, Acadia Healthcare's chairman and CEO, said.