FRANKLIN, Tenn. - Acadia Healthcare (NASDAQ:ACHC) Company, Inc. (NASDAQ: ACHC) has expanded its footprint in North Carolina with the acquisition of three comprehensive treatment centers (CTCs), the company announced today. The new centers, located in Raleigh, Greenville, and Hillsborough, increase the company's presence in the state to 10 facilities and contribute to its nationwide network of 160 locations.
The Raleigh Comprehensive Treatment Center, Greenville Comprehensive Treatment Center, and Hillsborough Comprehensive Treatment Center are now fully operational and aim to offer a combination of medication-assisted treatment (MAT) and behavioral therapy to address opioid use disorders. These centers are part of Acadia's strategy to provide comprehensive substance abuse treatment support services, which also include medical, counseling, vocational, and educational services.
Chris Hunter, CEO of Acadia Healthcare, emphasized the importance of these acquisitions, stating that they build upon the company's strong clinical foundation in North Carolina. He highlighted the effectiveness of the treatment models provided at these centers, which are designed to change the course of individuals' lives.
The expansion aligns with Acadia's ongoing partnership with the University of North Carolina's Center for the Business of Health at the UNC Kenan-Flagler Business School and the UNC School of Nursing. This collaboration focuses on developing community-based strategies to improve access to care and combat the opioid epidemic in the state. A joint analysis by UNC and Acadia identified treatment gaps, leading to the selection of these markets for the company's CTC expansion.
Hunter also mentioned North Carolina's progressive approach to behavioral healthcare treatment programs as a factor in the company's decision to increase its capacity and presence in the state.
Acadia Healthcare is recognized as the largest stand-alone behavioral healthcare company in the U.S. As of December 31, 2023, it operated 253 behavioral healthcare facilities with approximately 11,200 beds across 38 states and Puerto Rico. The company employs around 23,500 individuals, serving over 75,000 patients daily.
The information in this article is based on a press release statement from Acadia Healthcare.
InvestingPro Insights
As Acadia Healthcare Company, Inc. (NASDAQ: ACHC) continues to expand its operations with new treatment centers in North Carolina, investors and stakeholders are closely monitoring the company's financial health and stock performance. According to the latest data from InvestingPro, Acadia Healthcare boasts a market capitalization of $7.26 billion, reflecting its substantial presence in the behavioral healthcare industry.
InvestingPro Tips suggest that while analysts expect net income growth this year, there have been six downward earnings revisions for the upcoming period, which could signal caution for investors. Despite this, the stock is known for its low price volatility, providing some stability in an investor's portfolio. Acadia's commitment to expanding its services, as seen in the recent acquisition of three comprehensive treatment centers, may be a contributing factor to the analysts' positive outlook on net income growth.
From a financial standpoint, Acadia's revenue growth over the last twelve months as of Q4 2023 stands at 12.2%, with a gross profit margin of 42.69%, indicating solid profitability in its operations. However, it's important to note that the company's short-term obligations exceed its liquid assets, which could present liquidity challenges.
For those interested in further insights and a deeper dive into Acadia Healthcare's financials and stock performance, there are additional InvestingPro Tips available, offering a comprehensive analysis of the company's prospects. To access these insights and more, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
With Acadia's next earnings date approaching on April 30, 2024, stakeholders will be keen to see whether the company's strategic initiatives, like the North Carolina expansion, will positively impact its financial outcomes and support the prediction of profitability for this year.
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