Published on January 2, 2013 at 7:53 AM
Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced that it completed the previously announced acquisitions of Behavioral Centers of America, LLC and AmiCare Behavioral Centers on December 31, 2012. In addition, Acadia has expanded and extended its senior secured credit facility. The credit facility now consists of a $300 million term loan and a $100 million revolving credit facility, compared previously with $150 million and $75 million, respectively. In addition, the interest rate for the credit facility, which matures in December 2017, is now 100 basis points lower at Libor plus 3.25%.
“In addition, our amended credit facility and equity financing position us well to continue implementing our acquisition strategy in 2013.”
Borrowings under the new facility, combined with a portion of the net proceeds of $173.0 million from the Company's recent sale of common stock, were used to fund the BCA and AmiCare acquisitions. Acadia currently has no borrowings under the revolving credit facility.
"We are very pleased to have closed 2012 with two significant acquisitions, which together bring eight inpatient psychiatric facilities and over 600 licensed inpatient beds to Acadia," remarked Brent Turner, President of Acadia. "In addition, our amended credit facility and equity financing position us well to continue implementing our acquisition strategy in 2013."