On Wednesday, Acadia Healthcare confirmed that last month's announced purchase of Nashville-based Behavioral Centers of America and Fayetteville, Ark.-based AmiCare Behavioral Centers for a combined $258 million has closed successfully.

Together, the acquisitions give Franklin, Tenn.-based Acadia a presence in Ohio for the first time, expanding the company's business into what is now 21 states. With the two new companies come eight inpatient psychiatric facilities with 600 beds, and more than $122 million in annual revenues.

In today's statement, Acadia noted that it has expanded and extended its senior secured credit facility, which now consists of a $300 million term loan and a $100 million revolving credit facility, or roughly twice the previous figures. On the plus side, the company noted that the new loans come with a lower interest rate of "LIBOR plus 3.25%."

Acadia shares rose 4% on the news, to $24.28.

The article Acadia Healthcare Closes $258 Million Acquisition originally appeared on Fool.com.

Fool contributor Rich Smith and The Motley Fool have no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Increase your money and finance knowledge from home

Small Cap Investing

Learn now to invest in small companies the right way.

View Course »

Reading a Stock Quote

Learn to read the ingredients of a stock.

View Course »

Add a Comment

*0 / 3000 Character Maximum