Acadia Healthcare Closes $258 Million Acquisition
Jan 2nd 2013 5:05PM
Updated Jan 2nd 2013 5:12PM
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.
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