Acadia Healthcare (ACHC) to Build Behavioral Health Unit in Mesa
Acadia Healthcare Company, Inc. ACHC recently conducted a groundbreaking ceremony for commencing the construction on its hospital site located in Mesa, AZ. Requests to build the Mesa facility were submitted by ACHC to the city’s planning division in June 2022 and after almost two months, the project received a nod.
Equipped to house 100 beds, the acute care behavioral health unit has been named Agave Ridge Behavioral Hospital and is expected to be operational in early 2024.
The new hospital will extend a comprehensive suite of inpatient behavioral healthcare services that will provide enhanced treatment to adults, older adults and pediatric patients grappling with severe behavioral health disorders. Subsequently, patients across Mesa and neighboring communities will breathe a sigh of relief with the availability of enhanced behavioral healthcare resources offered by Acadia Healthcare’s Mesa hospital.
The facility reflects one of the longstanding endeavors of Acadia Healthcare, to address the nationwide shortage of mental health resources by delving deeper into several underserved U.S. regions. Such initiatives are also likely to solidify the trust which individuals place in ACHC’s facilities and fetch greater revenues for the behavioral healthcare services provider.
The promptness to inaugurate the Mesa facility within a reasonable timeline seems prudent on the part of Acadia Healthcare as well. The reason can be attributed to the acute shortage of behavioral healthcare facilities across Arizona and the significant population of the state that suffers from mental health diseases.
To testify the same, Arizona’s Maricopa County, of which Mesa is a part, suffers from an acute deficit of behavioral health beds. Per data compiled from the Treatment Advocacy Center, U.S. Census Bureau and American Hospital Directory, the County currently contains 1,492 behavioral health beds which fall short of the 2,331 beds required to address its behavioral healthcare needs. Also, the National Institutes of Health states that one in every five U.S. people grapples with a mental health disease which equates to more than one million sufferers aged 12 and above in Arizona.
Acadia Healthcare often resorts to buyouts or joint ventures (JVs) with renowned U.S. health systems for inaugurating new hospitals or expanding existing facilities through bed additions. Its healthcare portfolio comprised 250 behavioral healthcare facilities across 39 states and Puerto Rico as of Dec 31, 2022. 2023, similar to 2022, is also likely to be a promising year for ACHC with respect to its growth-related initiatives. It aims to add roughly 300 beds to its existing facilities as well as open two inpatient de novo facilities, two JV facilities and a minimum of six comprehensive treatment centers (CTCs) this year.
Shares of Acadia Healthcare have rallied 12.6% in a year against the industry’s 11.5% decline. ACHC currently carries a Zacks Rank #3 (Hold).
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Stocks to Consider
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