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Acadia Healthcare to acquire two psychiatric facilities for $91.8M

Acadia Healthcare announced that it has signed a definitive purchase agreement with Ten Broeck Tampa, Inc. and Capestrano Investment Company to purchase two acute inpatient psychiatric facilities. Acadia will acquire the San Juan Capestrano Hospital in San Juan, Puerto Rico, which is licensed for 108 beds and has a certificate of need to build 100 additional beds. San Juan Capestrano Hospital produced 2012 revenues of approximately $25M. Acadia will also acquire a 75-bed facility under construction in Tampa, Florida. The Tampa facility is scheduled for opening in the first quarter of 2014. Acadia expects to complete the purchase of these facilities in the second quarter of 2013, subject to normal closing conditions, for $91.8M in cash plus construction costs for the Tampa facility.