Acadia Healthcare will buy Highland
Board of directors unanimously approves letter of intent to sell Highland to Acadia Healthcare Company of Franklin, Tennessee.
Photo by www.highlandhosp.com
Behavioral health center manager Acadia Health will buy Highland Hospital Association, an 80-bed psychiatric hospital, and two other related companies in Charleston West Virginia. All are part of HHA, Highland's parent company.
Monetary terms of the deal were not disclosed.
Their board of directors has unanimously approved the letter of intent, HHA announced Monday.
A definitive agreement is expected by Sept. 30 and the deal is expected to close by the end of 2016, HHA said.
[Also: Acadia Healthcare wraps up three acquisitions, expands United Kingdom operations]
HHA includes three different providers. Highland Hospital Association is a psychiatric facility with 80 acute care beds, plus a 24-bed psychiatric residential treatment facility for children and adolescents. Highland Health Center is 16 bed residential treatment and detoxification program. Finally, Process Strategies is an outpatient facility offering integrated behavioral healthcare, primary care, and pharmacy services.
Acadia is based in Franklin, Tennessee and operates a network of 587 behavioral healthcare facilities with approximately 17,400 beds in 39 states, as well as the United Kingdom and Puerto Rico, including inpatient psychiatric hospitals, residential treatment centers, outpatient clinics and therapeutic school-based programs.
Twitter: @BethJSanborn
