Medical Device News Magazine

Acadia Healthcare Expands Footprint in Illinois Through Real Estate Purchase and Establishes New Behavioral Healthcare System Named Montrose Behavioral Health Hospital

Acquisition Provides Entry into a New Market for the Acute Service Line

About Medical Device News Magazine

About Medical Device News Magazine. We are a digital publication founded in 2008 located in the United States.

Advertise with Medical Device News Magazine! Join Our #1 Family of Advertisers!

We pride ourselves on being the best-kept secret when it comes to distributing your news! Our unique digital approach enables us to circulate your...

Summation

  • “We are pleased to have the opportunity to enter the greater Chicago area and address the significant need for behavioral health services for adults and children in this important market,” said Debbie Osteen, Chief Executive Officer of Acadia Healthcare.

Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced that it has completed the acquisition of the real estate for three currently non-operational facilities, including one adult hospital, one children’s hospital and an outpatient facility, all located on the north side of Chicago, Illinois. The Company funded the transaction with cash on hand.

Prior to reopening, Acadia will make infrastructure investments to improve the behavioral health facilities, which will operate as Montrose Behavioral Health Hospital. The 60-bed children’s hospital and outpatient facility are expected to open in the summer of 2022 and the 101-bed adult hospital, which will include geriatric services, is slated to begin operations in early 2023.

“We are pleased to have the opportunity to enter the greater Chicago area and address the significant need for behavioral health services for adults and children in this important market,” said Debbie Osteen, Chief Executive Officer of Acadia Healthcare. “This transaction aligns with our strategy to identify underbedded markets for new facilities and opportunities that meet the criteria of our disciplined capital allocation framework. We intend to make significant investments across the three locations to ensure that Montrose Behavioral Health Hospital meets our industry-leading standards for exceptional patient care.

“As the largest stand-alone provider of behavioral health services in the country, we can bring the necessary resources and expertise to serve the needs of our communities. As we enter new markets like Chicago, we can leverage our extensive experience in acute care services with a proven operating model. Additionally, our patients will benefit from Acadia’s network of facilities that offer treatment options for residential eating disorders, substance abuse and co-occurring mental conditions. We look forward to expanding the inpatient capacity in the market and broadening the treatment programs offered to patients, their families and the community,” added Osteen.

Medical Device News Magazinehttps://infomeddnews.com
Medical Device News Magazine provides breaking medical device / biotechnology news. Our subscribers include medical specialists, device industry executives, investors, and other allied health professionals, as well as patients who are interested in researching various medical devices. We hope you find value in our easy-to-read publication and its overall objectives! Medical Device News Magazine is a division of PTM Healthcare Marketing, Inc. Pauline T. Mayer is the managing editor.

Other News

HeartFlow Introduces Next Generation Interactive Plaque Analysis Platform to Assess Patient Risk in Suspected Coronary Artery Disease

The HeartFlow Plaque Analysis uses proprietary algorithms to analyze coronary CT angiogram (CCTA) scans, creating a personalized 3D model that quantifies and characterizes plaque volume in the coronary arteries, aiding risk assessment of coronary artery disease. The technology was introduced at the Society of Cardiovascular Computed Tomography (SCCT) Annual Scientific Meeting in Washington, D.C.

Ultrahuman Announces its App Store ‘PowerPlugs’ with the World’s First AFib Detection Technology on a Smart Ring

Recognizing each individual’s health journey is unique, PowerPlugs enable people to choose and focus on the aspects of their health that matter most. It’s designed for highly personalized health insights, ensuring that every individual can personalize their health tracking to their unique needs and goals.

VisionAir Solutions Celebrates Milestone and New Collaboration

This achievement marks VisionAir Solutions commitment to bringing technological innovation to pulmonary medicine. Since its acquisition by Theken Companies last year, VAS has over doubled its growth and continues to demonstrate industry adoption and the advantages of personalized healthcare.