Acadia, Led by Joey Jacobs, Adds MMO Behavioral
Crossroads Holding, Foundations Recovery and Reliant Hospital have also been received buyer interest
Health care treatment center operator Acadia Healthcare Co. (Nasdaq: ACHC) has purchased MMO Behavioral Health Systems, to expand its presence in Louisiana.
The target, with headquarters in Baton Rouge, Louisiana, operates two behavioral treatment health care facilities in Louisiana. MMO provides services that treat depression, bipolar disorder, schizophrenia among others. In addition, MMO offers physical rehabilitation. MMO generated $16 million in revenue for the 12 months ended Sept. 30.
“This transaction is representative of our ongoing opportunities to drive long-term growth through our acquisition strategy,” says Acadia CEO Joey Jacobs. Earlier in 2015, Acadia completed the purchase of Belmont Behavioral Health and six behavioral treatment centers in the United Kingdom.
There have been some other deals among health care treatment centers. HealthSouth Corp. (NYSE: HLS) is buying Reliant Hospital Partners; Revelstoke Capital Partners closed an investment in Crossroads Holding LLC.; and Universal Health Services Inc. (NYSE: UHS) has agreed to buy Foundations Recovery Network LLC.
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