Behavioral Health Business August 1, 2024
Acadia Healthcare Co. Inc. (Nasdaq: ACHC) is now more likely to shutter underperforming facilities than in the past.
The Franklin, Tennessee-based behavioral health operator has closed five facilities in the last month, CEO Chris Hunter said on Acadia Healthcare’s second-quarter earnings call. It closed two in the previous quarter.
“If we’re seeing facilities that are underperforming and don’t see a path to improvement, we’re going to take action,” Hunter said on the call. “This is normal portfolio optimization, and we’ll continue to monitor it going forward.”
He added that the company has closed more facilities than “typical over the last few quarters.”
Hunter, who became CEO in 2022, has set a goal for Acadia Healthcare to double its revenue by...
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