Behavioral Health Business October 31, 2023
Acadia Healthcare Co. Inc. (Nasdaq: ACHC) has agreed to pay $400 million to settle three cases filed against the company and former subsidiary Youth and Family Centered Services of New Mexico, which also operated under the name Desert Hills, according to a public SEC filing.
In July, a jury awarded $485 million in compensatory and punitive damage in one of the cases, of which $405 million applied to Acadia Healthcare.
“The settlement agreements … fully resolve each of the cases and include no admission or finding of liability by Acadia or Desert Hills,” the filing states.
The civil proceedings paralleled criminal proceedings on the same matter, which alleged that a foster parent affiliated with Youth and Family Centered Services of...
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