Acadia Healthcare Ventures in South Carolina With Three Buyouts
Acadia Healthcare Company, Inc. ACHC recently closed the acquisition of three opioid treatment program clinics in South Carolina. After the acquisition, these facilities will be rebranded as Clinton Comprehensive Treatment Center, Easley Comprehensive Treatment Center, and Ridgeland Comprehensive Treatment Center.
This move bodes well for ACHC as it will be able to cater to the underserved market demand of people suffering from opioid use disorder. This initiative is expected to impart higher revenues to Acadia Healthcare from its Comprehensive Treatment Centers (CTCs) and subsequently, contribute to the overall top line of the behavioral healthcare services provider.
The recent announcement will allow ACHC to build its CTC footprint in South Carolina as these CTCs will be the company’s first in the state. ACHC operates CTCs in 165 locations spread across 33 U.S. states. The continued incidence of opioid use disorders nationwide may sustain the solid demand for ACHC’s CTCs in the days ahead. ACHC acquired three CTCs in North Carolina in early 2024.
Each of these newly acquired CTCs is designed to provide medication-assisted treatment programs, which integrate medication with crucial behavioral therapies and support services to help individuals struggling with opioid addiction. The facilities utilize a variety of treatment approaches, including individual and group therapy sessions, intensive outpatient programs, partial hospitalization or day treatment, as well as the road to recovery and other tailored programs.
Acadia Healthcare frequently pursues acquisitions or forms joint ventures with prominent U.S. health systems to open new hospitals or expand current ones by increasing bed capacity. The company’s management expects to add more than 400 beds to its existing facilities in 2024.
ACHC Stock’s Price Performance
Shares of Acadia Healthcare have plunged 15.3% in the past three months against the industry’s 19.6% growth.
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ACHC’s Zacks Rank & Key Picks
ACHC currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Medical space are DaVita Inc. DVA, HCA Healthcare, Inc. HCA and The Pennant Group, Inc. PNTG. Each of these companies presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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