Here are five things to know about the company’s growth plans:
- The company expects to open 400 new beds at existing facilities in 2024, according to its third-quarter earnings report.
- The majority of new beds in 2024 will be in newly constructed joint venture facilities and a de novo hospital. Acadia expects construction on its joint venture partnerships with Henry Ford Health in Detroit and Intermountain Health in Denver, to open by the end of the year. Acadia also recently completed a de novo facility in Madison, Wis.
- The company closed two satellite programs during the third quarter, Mr. Hunter told investors. The closures resulted in a loss of 104 beds.
- The bed additions are expected to accelerate Acadia’s volume growth, executives told investors. Volume growth declined in the third quarter of 2024, as a result of media scrutiny, executives said.
- Acadia Healthcare operates around 11,300 beds at 260 facilities in 38 states and Puerto Rico. The 2,000-bed expansion will grow the company’s capacity by more than 15%.