Dive Brief:
- Acadia Healthcare has completed its acquisition of Belmont Behavioral Health, a 147-bed inpatient behavioral health facility based in Philadelphia, from the Einstein Healthcare Network.
- The company also announced its acquisition of the 15-bed Manor Clinic, a rehabilitation facility based in Southampton, U.K.
- The Belmont acquisition strengthens the company's presence in Pennsylvania and is its first inpatient behavioral health facility in Philadelphia.
Dive Insight:
"We are pleased to begin the second half of 2015 with the completion of two acquisitions that position Acadia well in growth markets," Acadia Chairman and CEO Joey Jacobs told StreetInsider.com. He also commented that the "Manor Clinic is a wonderful opportunity through which to launch our presence in addictions treatment in the U.K., a market that we are confident represents a significant long-term growth opportunity for the company."
The company also recently acquired two other behavioral facilities in the U.K. and operates 226 behavioral health facilities in 37 states, the U.K., and Puerto Rico.